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Funding arb · Price arb /

SHAZ

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 16:00 UTC+0.1635%/8h= +179.1% APRnext payment +$16.35 per $10,000 · paid last 24h −0.100%
Price spread now: Bybit against OKX+0.427%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$846as in the Funding arb table
Net, price: spread back to 7d avg − costs−$770as in the Price arb table
costs, in and out, $10k−$8138.126% of the position
Long on OKXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.337%−$34 on $10k
Price spread, last 4 days (all we have)−0.735%−$74 · spread now +0.427%, 7d avg +0.003%
Together, before fees−1.072%−$107 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$49 a day on $10k at the current rate, and Bybit is 0.424% dearer against OKX than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of +0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.337%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.337% in total (about -17.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$16.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX SHAZ-USDT-SWAP58.5600get 0.0000% / 8h7h 00m$439K$258K10x
ShortBybit SHAZUSDT58.8100.1635get 0.1635% / 8h7h 00m$152K$441K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$343.45
Price spread: +0.427% → +0.003%
$42.4
Slippage, 4 orders
−$791.57
Fee OKX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$426.72
Costs to cover
8.126%
Break-even
15.7 days
Slippage from OKX: live order book, 30 min ago; Bybit: live order book, 25 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 30 min ago11.25 bp351.7 bp −$352doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 25 min ago4.31 bp185.5 bp −$185355.0 bp −$3,550doesn't fitdoesn't fit

SHAZ on 11 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
tradeXYZ xyz:SHAZ−0.2011%1h58.653+0.159%$1.2M$298K10xas long as short
Binance SHAZUSDT−0.1582%8h58.716+0.267%$470K$2.0M10xas long as short
Variational Omni SHAZ−0.1359%8h58.729+0.289%$23K$36K—as long as short
KuCoin SHAZUSDTM−0.0343%8h58.810+0.427%$71K$437K20xas long as short
OKX SHAZ-USDT-SWAPlong0.0000%8h58.560long leg$439K$258K10x
QFEX SHAZ-USD0.0000%1h59.000+0.751%$1.1M$1.8M10xas long as short
Gate SHAZ_USDT0.0000%8h58.650+0.154%$180K$40K20xas long as short
Bitget SHAZUSDT0.0000%8h58.730+0.290%$200K$156K20xas long as short
HTX SHAZ-USDT0.0000%8h58.756+0.335%$6K$40K10xas long as short
edgeX SHAZUSDC+0.0859%4h58.675+0.196%$16K$291K10xas long as short
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit SHAZUSDTshort+0.1635%8h58.810+0.427%$152K$441K25x