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Funding arb · Price arb /

TEM

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0309%/8h= +33.8% APRnext payment +$3.09 per $10,000 · paid last 24h 0.000%
Price spread now: OKX against Bybit+0.542%7-day average +0.242% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$156as in the Price arb table
costs, in and out, $10k−$1861.864% of the position
Long on BybitShort on OKX
What this pair did over the last
the charts below follow
Funding, last 1 day (all we have)0.000%$0 on $10k
Price spread, last 18 hours (all we have)−0.156%−$16 · spread now +0.542%, 7d avg +0.242%
Together, before fees−0.156%−$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and OKX is 0.300% dearer against Bybit than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.242%.
The current funding rate is far above what this pair has been paying: over the last 1 day it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.09 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
LongBybit TEMUSDT77.8200get 0.0000% / 8h6h 21m$251K$240K25x
ShortOKX TEM-USDT-SWAP78.2420.0309get 0.0309% / 8h6h 21m$60K$361K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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
$64.9
Price spread: +0.542% → +0.242%
$29.99
Slippage, 4 orders
−$165.42
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee OKX: 5 bp × 2 orders
−$10
Net
−$91.54
Costs to cover
1.864%
Break-even
16.9 days
Slippage from Bybit: live order book, 28 min ago; OKX: live order book, 44 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 Bybit live order book, 28 min ago7.07 bp87.5 bp −$88892.8 bp −$8,928doesn't fitdoesn't fit
Sell OKX live order book, 44 min ago0.06 bp5.1 bp −$515.7 bp −$157doesn't fitdoesn't fit

TEM on 9 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
Injective TEM/USDC PERP−0.0220%1h77.060−0.977%$8K$28K12xas long as short
Binance TEMUSDT0.0000%8h77.859+0.050%$385K$1.1M20xas long as short
Bybit TEMUSDTlong0.0000%8h77.820long leg$251K$240K25x
QFEX TEM-USD0.0000%1h77.720−0.129%$1.1M$1.4M10xas long as short
Gate TEM_USDT0.0000%8h77.810−0.013%$60K$8K20xas long as short
Bitget TEMUSDT0.0000%8h77.870+0.064%$195K$817K20xas long as short
HTX TEM-USDT0.0000%8h77.880+0.077%$6K$385K20xas long as short
Phemex TEMUSDT0.0000%8h77.870+0.064%$809K$86K20xas long as short
OKX TEM-USDT-SWAPshort+0.0309%8h78.242+0.542%$60K$361K20x