Funding you earn now, next payment 08:00 UTC−0.0350%/8h= −38.3% APRnext payment −$3.50 per $10,000 · paid last 24h −0.083%
Price spread now: OKX against Binance−0.180%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$262as in the Funding arb table
Net, price: spread back to 7d avg − costs−$270as in the Price arb table
costs, in and out, $10k−$2522.515% of the position
Funding, last 7 days−0.106%−$11 on $10k
+Price spread, last 2 days (all we have)+0.169%+$17 · spread now −0.180%, 7d avg +0.009%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and OKX is 0.189% cheaper against Binance than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.009%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.106% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.50 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 | Binance SNOWUSDT | 340.24 | 0.0350 | pay 0.0350% / 8h | 2h 11m | $743K | $752K | 25x |
| Short | OKX SNOW-USDT-SWAP | 339.63 | 0 | get 0.0000% / 8h | 2h 11m | $329K | $163K | 20x |
Binance SNOWUSDT
OKX SNOW-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. 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
- −$73.54
- Price spread: −0.180% → +0.009%
- −$18.94
- Slippage, 4 orders
- −$231.5
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$343.98
- Costs to cover
- 2.515%
- Break-even
- never at this rate
Slippage from Binance: live order book, 21 min ago; OKX: live order book, 34 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 Binance live order book, 21 min ago | 2.21 bp | 44.2 bp −$44 | 111.3 bp −$1,113 | doesn't fit | doesn't fit |
| Sell OKX live order book, 34 min ago | 14.99 bp | 91.7 bp −$92 | doesn't fit | doesn't fit | doesn't fit |
SNOW on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SNOW/USDC PERP | −0.0220% | 1h | 336.36 | −1.141% | $7K | $97 | 12x | as long as short |
| OKX SNOW-USDT-SWAPshort | 0.0000% | 8h | 339.63 | −0.180% | $329K | $163K | 20x | |
| Gate SNOW_USDT | 0.0000% | 8h | 339.93 | −0.092% | $102K | $234K | 20x | as long as short |
| Bitget SNOWUSDT | 0.0000% | 8h | 339.96 | −0.083% | $316K | $165K | 20x | as long as short |
| HTX SNOW-USDT | 0.0000% | 8h | 340.24 | −0.001% | $8K | $40K | 10x | as long as short |
| Variational Omni SNOW | +0.0265% | 8h | 340.11 | −0.038% | $59K | $63K | — | as long as short |
| Binance SNOWUSDTlong | +0.0350% | 8h | 340.24 | long leg | $743K | $752K | 25x | |
| Bybit SNOWUSDT | +0.0351% | 8h | 339.83 | −0.121% | $715K | $290K | 25x | as long as short |
Injective SNOW/USDC PERP
Gate SNOW_USDT
Bitget SNOWUSDT
HTX SNOW-USDT
Variational Omni SNOW
Bybit SNOWUSDT