Funding you earn now, next payment 16:00 UTC+0.0500%/8h= +54.8% APRnext payment +$5.00 per $10,000 · paid last 24h +0.055%
Price spread now: OKX against Bybit−0.067%7-day average +0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$351as in the Funding arb table
Net, price: spread back to 7d avg − costs−$371as in the Price arb table
costs, in and out, $10k−$3613.610% of the position
Funding, last 7 days+0.098%+$10 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.067%, 7d avg +0.035%
=Funding pays, the price is against you. OKX is 0.102% cheaper against Bybit than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of +0.035%). If the spread goes back, that is −$10 on $10k: about 16 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.098% in total) that is about 7.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.00 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 | Bybit TMFUSDT | 29.950 | 0 | get 0.0000% / 8h | 7h 38m | $162K | $55K | 25x |
| Short | OKX TMF-USDT-SWAP | 29.930 | 0.0500 | get 0.0500% / 8h | 7h 38m | $149K | $138K | 20x |
Bybit TMFUSDT
OKX TMF-USDT-SWAPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $105.03
- Price spread: −0.067% → +0.035%
- −$10.16
- Slippage, 4 orders
- −$339.96
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$266.09
- Costs to cover
- 3.610%
- Break-even
- 24.7 days
Slippage from Bybit: live order book, 41 min ago; OKX: live order book, 56 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 Bybit live order book, 41 min ago | 11.70 bp | 99.0 bp −$99 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 56 min ago | 8.36 bp | 78.8 bp −$79 | 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 | −0.0377% | 4h | 29.954 | +0.012% | $13K | $286K | 10x | as long as short |
| Bybit TMFUSDTlong | 0.0000% | 8h | 29.950 | long leg | $162K | $55K | 25x | |
| Gate TMF_USDT | 0.0000% | 8h | 29.910 | −0.134% | $52K | $8K | 20x | as long as short |
| Bitget TMFUSDT | 0.0000% | 8h | 29.909 | −0.137% | $165K | $90K | 20x | as long as short |
| HTX TMF-USDT | 0.0000% | 8h | 29.960 | +0.033% | $9K | $252K | 10x | as long as short |
| OKX TMF-USDT-SWAPshort | +0.0500% | 8h | 29.930 | −0.067% | $149K | $138K | 20x | |
| Variational Omni TMF | +0.0837% | 8h | 29.955 | +0.017% | $29K | $6K | — | as long as short |
| Binance TMFUSDT | +0.0913% | 8h | 29.957 | +0.022% | $1.2M | $515K | 25x | as long as short |
| MEXC TMF_USDT | +0.0920% | 8h | 29.930 | −0.067% | $639K | $90K | 20x | as long as short |
edgeX TMFUSDC
Gate TMF_USDT
Bitget TMFUSDT
HTX TMF-USDT
Variational Omni TMF
Binance TMFUSDT
MEXC TMF_USDT