Funding you earn now, next payment 16:00 UTC+0.0250%/8h= +27.3% APRnext payment +$2.50 per $10,000 · paid last 24h +0.033%
Price spread now: Bitget against OKX−0.299%7-day average −0.096% · you buy dearer than you sell
Net, funding: paid 7d − costs−$553as in the Funding arb table
Net, price: spread back to 7d avg − costs−$587as in the Price arb table
costs, in and out, $10k−$5675.669% of the position
Funding, last 7 days+0.143%+$14 on $10k
+Price spread, last 4 days (all we have)+0.442%+$44 · spread now −0.299%, 7d avg −0.096%
=Funding pays, the price is against you. Bitget is 0.203% cheaper against OKX than usual: you would sell low and buy high (spread −0.299% now, against its 7-day average of −0.096%). If the spread goes back, that is −$20 on $10k: about 2.7 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.143% in total) that is about 9.9 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.143% in total (about 7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.50 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 | OKX SOFTBANK-USDT-SWAP | 41.110 | −0.0250 | get 0.0250% / 8h | 7h 44m | $88K | $228K | 10x |
| Short | Bitget SOFTBANKUSDT | 40.987 | 0 | get 0.0000% / 8h | 7h 44m | $2.1M | $1.6M | 20x |
OKX SOFTBANK-USDT-SWAP
Bitget SOFTBANKUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- $52.44
- Price spread: −0.299% → −0.096%
- −$20.29
- Slippage, 4 orders
- −$544.89
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$534.75
- Costs to cover
- 5.669%
- Break-even
- 78.4 days
Slippage from OKX: live order book, 51 min ago; Bitget: live order book, 3 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, 51 min ago | 16.97 bp | 265.4 bp −$265 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 2.68 bp | 10.6 bp −$11 | 15.2 bp −$152 | doesn't fit | doesn't fit |
SOFTBANK on 5 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX SOFTBANK-USDT-SWAPlong | −0.0250% | 8h | 41.110 | long leg | $88K | $228K | 10x | |
| Gate SOFTBANK_USDT | 0.0000% | 8h | 41.170 | +0.146% | $5K | $734 | 20x | as long as short |
| Bitget SOFTBANKUSDTshort | 0.0000% | 8h | 40.987 | −0.299% | $2.1M | $1.6M | 20x | |
| HTX SOFTBANK-USDT | 0.0000% | 1h | 41.174 | +0.156% | $6K | $381K | 20x | as long as short |
| tradeXYZ xyz:SOFTBANK | +0.0535% | 1h | 41.384 | +0.667% | $1.6M | $520K | 10x | as long as short |
Gate SOFTBANK_USDT
HTX SOFTBANK-USDT
tradeXYZ xyz:SOFTBANK