Funding you earn now, next payment 08:00 UTC−0.0283%/8h= −31.0% APRnext payment −$2.83 per $10,000 · paid last 24h −0.026%
Price spread now: OKX against Binance−0.037%7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$246as in the Funding arb table
Net, price: spread back to 7d avg − costs−$242as in the Price arb table
costs, in and out, $10k−$2382.380% of the position
Funding, last 7 days−0.076%−$8 on $10k
+Price spread, last 4 days (all we have)−0.165%−$17 · spread now −0.037%, 7d avg +0.001%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.038% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.001%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.076% in total (about -4.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.83 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 TMFUSDT | 29.981 | 0.1072 | pay 0.1072% / 8h | 2h 52m | $1.2M | $500K | 25x |
| Short | OKX TMF-USDT-SWAP | 29.970 | 0.0789 | get 0.0789% / 8h | 2h 52m | $149K | $138K | 20x |
Binance TMFUSDT
OKX TMF-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
- −$59.42
- Price spread: −0.037% → +0.001%
- −$3.79
- Slippage, 4 orders
- −$217.96
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$301.16
- Costs to cover
- 2.380%
- Break-even
- never at this rate
Slippage from Binance: live order book, 10 min ago; OKX: live order book, 57 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, 10 min ago | 3.34 bp | 29.7 bp −$30 | 145.4 bp −$1,454 | doesn't fit | doesn't fit |
| Sell OKX live order book, 57 min ago | 6.68 bp | 66.6 bp −$67 | doesn't fit | doesn't fit | doesn't fit |
TMF on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TMFUSDC | −0.0229% | 4h | 29.975 | −0.022% | $13K | $286K | 10x | as long as short |
| Bybit TMFUSDT | 0.0000% | 8h | 29.940 | −0.137% | $163K | $53K | 25x | as long as short |
| Gate TMF_USDT | 0.0000% | 8h | 29.930 | −0.171% | $51K | $7K | 20x | as long as short |
| Bitget TMFUSDT | 0.0000% | 8h | 29.930 | −0.171% | $160K | $86K | 20x | as long as short |
| HTX TMF-USDT | 0.0000% | 8h | 30.020 | +0.129% | $9K | $253K | 10x | as long as short |
| OKX TMF-USDT-SWAPshort | +0.0789% | 8h | 29.970 | −0.037% | $149K | $138K | 20x | |
| Variational Omni TMF | +0.0985% | 8h | 29.975 | −0.022% | $28K | $5K | — | as long as short |
| MEXC TMF_USDT | +0.1065% | 8h | 29.970 | −0.037% | $637K | $89K | 20x | as long as short |
| Binance TMFUSDTlong | +0.1072% | 8h | 29.981 | long leg | $1.2M | $500K | 25x |
edgeX TMFUSDC
Bybit TMFUSDT
Gate TMF_USDT
Bitget TMFUSDT
HTX TMF-USDT
Variational Omni TMF
MEXC TMF_USDT