Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%
Price spread now: Bybit against OKX−0.040%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$223as in the Funding arb table
Net, price: spread back to 7d avg − costs−$228as in the Price arb table
costs, in and out, $10k−$2232.228% of the position
Funding, last 7 days−0.007%−$1 on $10k
+Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.040%, 7d avg +0.015%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.055% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.015%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SMH-USDT-SWAP | 595.68 | 0 | get 0.0000% / 8h | 5h 54m | $499K | $308K | 20x |
| Short | Bybit SMHUSDT | 595.44 | 0 | get 0.0000% / 8h | 5h 54m | $300K | $344K | 25x |
OKX SMH-USDT-SWAP
Bybit SMHUSDTFunding 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
- $0
- Price spread: −0.040% → +0.015%
- −$5.52
- Slippage, 4 orders
- −$201.8
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$228.32
- Costs to cover
- 2.228%
- Break-even
- never at this rate
Slippage from OKX: live order book, 54 min ago; Bybit: live order book, 52 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, 54 min ago | 0.59 bp | 14.8 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 52 min ago | 8.44 bp | 95.0 bp −$95 | 221.2 bp −$2,212 | doesn't fit | doesn't fit |
SMH on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX SMH-USD | −0.0003% | 1h | 595.45 | −0.039% | $1.1M | $5.9M | 10x | as long as short |
| BloFin SMH-USDT | 0.0000% | 8h | 595.70 | +0.003% | $47K | $32K | 20x | as long as short |
| Binance SMHUSDT | 0.0000% | 8h | 595.44 | −0.040% | $706K | $1.2M | 20x | as long as short |
| Bybit SMHUSDTshort | 0.0000% | 8h | 595.44 | −0.040% | $300K | $344K | 25x | |
| OKX SMH-USDT-SWAPlong | 0.0000% | 8h | 595.68 | long leg | $499K | $308K | 20x | |
| Gate SMH_USDT | 0.0000% | 8h | 594.90 | −0.131% | $186K | $19K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 595.70 | +0.003% | $564K | $111K | 20x | as long as short |
| Bitget SMHUSDT | 0.0000% | 8h | 595.31 | −0.062% | $688K | $45K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 595.26 | −0.071% | — | — | 25x | as long as short |
| HTX SMH-USDT | +0.0100% | 8h | 594.39 | −0.217% | $7K | $47K | 10x | as long as short |
QFEX SMH-USD
BloFin SMH-USDT
Binance SMHUSDT
Gate SMH_USDT
MEXC SMH_USDT
Bitget SMHUSDT
Vest SMH-USD-PERP
HTX SMH-USDTShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:SMH | +0.0349% | 1h | 595.82 | +0.024% | $3.2M | $1.8M | 20x | as long as short |
tradeXYZ xyz:SMH