Funding arb · Price arb /

NOK

RWAall NOK markets

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 −0.039%

Price spread now: Phemex against OKX−0.018%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$196as in the Funding arb table

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1911.912% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)−0.299%−$30 · spread now −0.018%, 7d avg −0.085%

Together, before fees−0.347%−$35 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: Phemex is 0.067% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOK-USDT-SWAP	11.022	0	get 0.0000% / 8h	5h 30m	$1.2M	$1.2M	20x
Short	Phemex NOKUSDT	11.020	0	get 0.0000% / 8h	5h 30m	$1.6M	$537K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → −0.085%: $6.71
Slippage, 4 orders: −$169.21
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$184.5
Costs to cover: 1.912%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Phemex: live order book, 2 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 OKX live order book, 1 min ago	4.09 bp	25.7 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	13.62 bp	73.8 bp −$74	doesn't fit	doesn't fit	doesn't fit

NOK on 16 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
Aster NOKUSDT	0.0000%	8h	11.015	−0.066%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	11.011	−0.096%	$37K	$173K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	11.016	−0.056%	$7.5M	$8.9M	20x	as long as short
OKX NOK-USDT-SWAPlong	0.0000%	8h	11.022	long leg	$1.2M	$1.2M	20x
MEXC NOKSTOCK_USDT	0.0000%	8h	11.010	−0.109%	$1.6M	$112K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	11.038	+0.145%	$1.5M	$587K	20x	as long as short
Variational Omni NOK	0.0000%	8h	11.013	−0.084%	$136K	$113K	—	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	11.010	−0.109%	$3K	$148K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	11.020	−0.018%	$992	$1.4M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	11.030	+0.073%	$9K	$5K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NOKUSDTshort	0.0000%	8h	11.020	−0.018%	$1.6M	$537K	10x
Lighter NOK	+0.0032%	1h	11.000	−0.200%	—	—	10x	as long as short
Vest NOK-PERP	+0.0046%	1h	11.000	−0.200%	—	—	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	11.010	−0.109%	$302K	$351K	20x	as long as short
Gate NOK_USDT	+0.0106%	8h	11.032	+0.091%	$971K	$987K	50x	as long as short
tradeXYZ xyz:NOK	+0.0231%	1h	11.008	−0.127%	$4.2M	$1.1M	10x	as long as short