Funding you earn now, next payment 16:00 UTC−0.0186%/8h= −20.4% APRnext payment −$1.86 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against OKX+0.330%7-day average +0.131% · you sell dearer than you buy
Net, funding: paid 7d − costs−$266as in the Funding arb table
Net, price: spread back to 7d avg − costs−$235as in the Price arb table
costs, in and out, $10k−$2552.551% of the position
Funding, last 7 days−0.112%−$11 on $10k
+Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.330%, 7d avg +0.131%
=The price spread pays, funding is against you. Bybit is 0.198% dearer against OKX than usual: you sell high and buy low (spread +0.330% now, against its 7-day average of +0.131%): +$20 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−0.112% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.112% in total (about -5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.86 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SHEIN-USDT-SWAP | 4.8540 | 0.0186 | pay 0.0186% / 8h | 6h 09m | $143K | $232K | 20x |
| Short | Bybit SHEINUSDT | 4.8700 | 0 | get 0.0000% / 8h | 6h 09m | $394K | $106K | 25x |
OKX SHEIN-USDT-SWAP
Bybit SHEINUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$39.1
- Price spread: +0.330% → +0.131%
- $19.84
- Slippage, 4 orders
- −$234.1
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$274.35
- Costs to cover
- 2.551%
- Break-even
- never at this rate
Slippage from OKX: live order book, 38 min ago; Bybit: live order book, 37 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, 38 min ago | 7.19 bp | 65.8 bp −$66 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 37 min ago | 20.49 bp | 76.0 bp −$76 | doesn't fit | doesn't fit | doesn't fit |
SHEIN on 8 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit SHEINUSDTshort | 0.0000% | 8h | 4.8700 | +0.330% | $394K | $106K | 25x | |
| Gate SHEIN_USDT | 0.0000% | 8h | 4.8510 | −0.062% | $48K | $43K | 50x | as long as short |
| Bitget SHEINUSDT | 0.0000% | 8h | 4.8620 | +0.165% | $247K | $276K | 20x | as long as short |
| HTX SHEIN-USDT | 0.0000% | 1h | 4.8763 | +0.459% | $7K | $384K | 20x | as long as short |
| Lighter SHEIN | +0.0032% | 1h | 4.8556 | +0.033% | $65K | $1.0M | 5x | as long as short |
| Lighter RH SHEIN | +0.0032% | 1h | 4.8534 | −0.012% | $33K | $65K | 5x | as long as short |
| OKX SHEIN-USDT-SWAPlong | +0.0186% | 8h | 4.8540 | long leg | $143K | $232K | 20x | |
| tradeXYZ xyz:SHEIN | +0.0968% | 1h | 4.8450 | −0.185% | $734K | $262K | 10x | as long as short |
Gate SHEIN_USDT
Bitget SHEINUSDT
HTX SHEIN-USDT
Lighter SHEIN
Lighter RH SHEIN
tradeXYZ xyz:SHEIN