Settings8H · net · $10k
Funding arb · Price arb /

TER

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 09:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%
Price spread now: Extended against OKX+0.593%7-day average · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 6 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropExtended: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.593% dearer against OKX than usual: you sell high and buy low: +$59 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX TER-USDT-SWAP375.430get 0.0000% / 8h7h 38m$203K$177K20x
ShortExtended TER_24_5-USD377.650.0040get 0.0005% / 1h38m 22s$35K$4K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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
$8.4
Price spread: +0.593% → 0.000%
$59.27
Slippage, 4 orders
no order book: not counted
Fee OKX: 5 bp × 2 orders
−$10
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$52.67
Costs to cover
0.150%
Break-even
from the start
Slippage unknown: OKX: live order book, 57 min ago; Extended: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 57 min ago14.16 bp34.9 bp −$35doesn't fitdoesn't fitdoesn't fit
Sell Extended no order-book sample
Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TER on 10 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
Paragon para:TER−1.1610%1h377.02+0.424%$118K$57K10xas long as short
Bybit TERUSDT−0.0250%8h376.45+0.272%$252K$128K25xas long as short
Bitget TERUSDT−0.0184%8h376.56+0.301%$239K$156K20xas long as short
Binance TERUSDT0.0000%8h376.52+0.290%$519K$1.0M25xas long as short
OKX TER-USDT-SWAPlong0.0000%8h375.43long leg$203K$177K20x
Gate TER_USDT0.0000%8h376.70+0.338%$295K$195K20xas long as short
Variational Omni TER0.0000%8h376.15+0.191%$48K$52Kas long as short
Extended TER_24_5-USDshort+0.0040%1h377.65+0.593%$35K$4K10x
KuCoin TERUSDTM+0.0100%8h376.19+0.202%$227K$134K20xas long as short
HTX TER-USDT+0.0100%8h377.21+0.474%$3K$39K10xas long as short