Funding you earn now, next payment 08:00 UTC−0.0200%/8h= −21.9% APRnext payment −$2.00 per $10,000 · paid last 24h 0.000%
Price spread now: OKX against Bybit−0.014%7-day average −0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$139as in the Funding arb table
Net, price: spread back to 7d avg − costs−$137as in the Price arb table
costs, in and out, $10k−$1391.394% of the position
Funding, last 7 days−0.001%$0 on $10k
+Price spread, last 4 days (all we have)+0.220%+$22 · spread now −0.014%, 7d avg −0.037%
=The price spread pays, funding is against you. OKX is 0.022% dearer against Bybit than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.037%): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.001% in total) that is about 8 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.001% in total (about -0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.00 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit NOWUSDT | 137.98 | 0.0200 | pay 0.0200% / 8h | 5h 10m | $1.6M | $4.9M | 25x |
| Short | OKX NOW-USDT-SWAP | 137.96 | 0 | get 0.0000% / 8h | 5h 10m | $489K | $228K | 20x |
Bybit NOWUSDT
OKX NOW-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.97
- Price spread: −0.014% → −0.037%
- $2.22
- Slippage, 4 orders
- −$118.41
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$179.16
- Costs to cover
- 1.394%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 50 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 Bybit live order book, 2 min ago | 0.73 bp | 40.3 bp −$40 | 161.1 bp −$1,611 | doesn't fit | doesn't fit |
| Sell OKX live order book, 50 min ago | 9.43 bp | 17.6 bp −$18 | 1144.3 bp −$11.4K | doesn't fit | doesn't fit |
NOW 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 NOWUSDT | 0.0000% | 8h | 138.28 | +0.221% | $41K | $995 | 20x | as long as short |
| OKX NOW-USDT-SWAPshort | 0.0000% | 8h | 137.96 | −0.014% | $489K | $228K | 20x | |
| QFEX NOW-USD | 0.0000% | 1h | 137.76 | −0.159% | $1.1M | $1.8M | 10x | as long as short |
| Gate NOW_USDT | 0.0000% | 8h | 137.91 | −0.051% | $248K | $371K | 20x | as long as short |
| Bitget NOWUSDT | 0.0000% | 8h | 137.89 | −0.065% | $781K | $234K | 20x | as long as short |
| SunX NOW-USDT | 0.0000% | 8h | 137.90 | −0.058% | $552 | $386K | 10x | as long as short |
| HTX NOW-USDT | 0.0000% | 8h | 138.11 | +0.094% | $5K | $31K | 20x | as long as short |
| Lighter NOW | +0.0032% | 1h | 137.81 | −0.123% | $5K | $178 | 5x | as long as short |
| Injective NOW/USDC PERP | +0.0033% | 1h | 139.80 | +1.319% | $3K | $101 | 12x | as long as short |
| Vest NOW-USD-PERP | +0.0046% | 1h | 137.80 | −0.130% | — | — | 25x | as long as short |
Aster NOWUSDT
QFEX NOW-USD
Gate NOW_USDT
Bitget NOWUSDT
SunX NOW-USDT
HTX NOW-USDT
Lighter NOW
Injective NOW/USDC PERP
Vest NOW-USD-PERPShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin NOWUSDTM | +0.0100% | 8h | 137.65 | −0.239% | $318K | $635K | 20x | as long as short |
| BloFin NOW-USDT | +0.0190% | 8h | 137.93 | −0.036% | $230 | $17K | 20x | as long as short |
| Bybit NOWUSDTlong | +0.0200% | 8h | 137.98 | long leg | $1.6M | $4.9M | 25x | |
| Binance NOWUSDT | +0.0209% | 8h | 137.94 | −0.029% | $1.8M | $1.4M | 20x | as long as short |
| tradeXYZ xyz:NOW | +0.0359% | 1h | 137.75 | −0.167% | $2.1M | $229K | 10x | as long as short |
| GRVT NOW_USDT_Perp | +0.0556% | 8h | 137.90 | −0.061% | $717 | $150K | 10x | as long as short |
KuCoin NOWUSDTM
BloFin NOW-USDT
Binance NOWUSDT
tradeXYZ xyz:NOW
GRVT NOW_USDT_Perp