Funding you earn now, next payment 08:00 UTC−0.0859%/8h= −94.1% APRnext payment −$8.59 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against OKX−0.167%7-day average −0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$358as in the Funding arb table
Net, price: spread back to 7d avg − costs−$364as in the Price arb table
costs, in and out, $10k−$3513.510% of the position
Funding, last 7 days−0.075%−$7 on $10k
+Price spread, last 4 days (all we have)+0.201%+$20 · spread now −0.167%, 7d avg −0.037%
=Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Bybit is 0.130% cheaper against OKX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.037%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.59 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 TMF-USDT-SWAP | 29.930 | 0.0859 | pay 0.0859% / 8h | 4h 45m | $149K | $136K | 20x |
| Short | Bybit TMFUSDT | 29.880 | 0 | get 0.0000% / 8h | 4h 45m | $161K | $50K | 25x |
OKX TMF-USDT-SWAP
Bybit TMFUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$180.45
- Price spread: −0.167% → −0.037%
- −$12.99
- Slippage, 4 orders
- −$330.03
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$544.46
- Costs to cover
- 3.510%
- Break-even
- never at this rate
Slippage from OKX: live order book, 10 min ago; Bybit: live order book, 60 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, 10 min ago | 9.99 bp | 92.0 bp −$92 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 60 min ago | 6.66 bp | 82.6 bp −$83 | 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 | −0.0022% | 4h | 29.944 | +0.046% | $14K | $287K | 10x | as long as short |
| Bybit TMFUSDTshort | 0.0000% | 8h | 29.880 | −0.167% | $161K | $50K | 25x | |
| Gate TMF_USDT | 0.0000% | 8h | 29.890 | −0.134% | $51K | $7K | 20x | as long as short |
| Bitget TMFUSDT | 0.0000% | 8h | 29.922 | −0.027% | $155K | $80K | 20x | as long as short |
| HTX TMF-USDT | 0.0000% | 8h | 29.940 | +0.033% | $9K | $254K | 10x | as long as short |
| OKX TMF-USDT-SWAPlong | +0.0859% | 8h | 29.930 | long leg | $149K | $136K | 20x | |
| Variational Omni TMF | +0.1189% | 8h | 29.929 | −0.002% | $29K | $5K | — | as long as short |
| Binance TMFUSDT | +0.1243% | 8h | 29.913 | −0.057% | $1.2M | $476K | 25x | as long as short |
| MEXC TMF_USDT | +0.1249% | 8h | 29.940 | +0.033% | $638K | $89K | 20x | as long as short |
edgeX TMFUSDC
Gate TMF_USDT
Bitget TMFUSDT
HTX TMF-USDT
Variational Omni TMF
Binance TMFUSDT
MEXC TMF_USDT