Funding arb · Price arb /

NET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bitget+0.211%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1511.512% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.211%, 7d avg +0.033%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.178% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NETUSDT	350.39	0	get 0.0000% / 8h	2h 18m	$237K	$602K	20x
Short	OKX NET-USDT-SWAP	351.13	0	get 0.0000% / 8h	2h 18m	$176K	$109K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee OKXbpOrdersPrice spread, now +0.211%Rate

Funding earned: $0
Price spread: +0.211% → +0.033%: $17.83
Slippage, 4 orders: −$129.19
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$133.36
Costs to cover: 1.512%
Break-even: never at this rate

Slippage from Bitget: live order book, 27 min ago; OKX: live order book, 27 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 27 min ago	16.47 bp	32.5 bp −$33	51.9 bp −$519	doesn't fit	doesn't fit
Sell OKX live order book, 27 min ago	14.07 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit

NET on 10 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:NET	−0.1980%	1h	352.42	+0.579%	$176K	$40K	10x	as long as short
edgeX NETUSDC	−0.0193%	4h	350.93	+0.155%	$37K	$330K	10x	as long as short
Binance NETUSDT	0.0000%	8h	351.24	+0.243%	$366K	$805K	20x	as long as short
Bybit NETUSDT	0.0000%	8h	350.30	−0.026%	$381K	$110K	25x	as long as short
OKX NET-USDT-SWAPshort	0.0000%	8h	351.13	+0.211%	$176K	$109K	20x
Gate NET_USDT	0.0000%	8h	350.60	+0.060%	$39K	$6K	20x	as long as short
Bitget NETUSDTlong	0.0000%	8h	350.39	long leg	$237K	$602K	20x
HTX NET-USDT	0.0000%	8h	350.26	−0.037%	$9K	$348K	20x	as long as short
Phoenix NET	+0.0159%	1h	350.92	+0.151%	$167	$85K	10x	as long as short
tradeXYZ xyz:NET	+0.0247%	1h	350.89	+0.143%	$383K	$182K	10x	as long as short