Funding arb · Price arb /

TTWO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.7388%/8h= +809.0% APRpaid last 24h +0.113%

Price spread now: Paragon against OKX+0.433%54s7-day average −0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2482.484% of the position

Long on OKX Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+1.809%+$181 on $10k

Price spread, last 4 days (all we have)−0.578%−$58 · spread now +0.433%, 7d avg −0.090%

Together, before fees+1.231%+$123 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$222 a day on $10k at the current rate, and Paragon is 0.522% dearer against OKX than usual: you sell high and buy low: +$52 more if the spread goes back to its 7-day average of −0.090%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.809% in total (about 94.3% a year). A funding rate is set anew for every payment. 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 TTWO-USDT-SWAP	210.21	0	get 0.0000% / 8h	4h 12m	$326K	$90K	25x
Short	Paragon para:TTWO	211.12	0.7388	get 0.0924% / 1h	12m 51s	$1.1M	$149K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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

Position, each leg$Hold fordaysFee OKXbpFee ParagonbpOrdersPrice spread, now +0.433%Rate

Funding earned: $1,551.48
Price spread: +0.433% → −0.090%: $52.24
Slippage, 4 orders: −$228.4
Fee OKX: 5 bp × 2 orders: −$10
Fee Paragon: 5 bp × 2 orders: −$10
Net: $1,355.32
Costs to cover: 2.484%
Break-even: 0.9 days

Slippage from OKX: live order book, 43 min ago; Paragon: live order book, 3 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, 43 min ago	9.27 bp	74.1 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 3 min ago	42.57 bp	47.8 bp −$48	185.8 bp −$1,858	doesn't fit	doesn't fit

TTWO on 13 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
Bybit TTWOUSDT	0.0000%	8h	210.17	−0.019%	$1.8M	$215K	25x	as long as short
OKX TTWO-USDT-SWAPlong	0.0000%	8h	210.21	long leg	$326K	$90K	25x
Gate TTWO_USDT	0.0000%	8h	210.20	−0.005%	$714K	$13K	20x	as long as short
Bitget TTWOUSDT	0.0000%	8h	209.98	−0.109%	$892K	$90K	20x	as long as short
QFEX TTWO-USD	+0.0024%	1h	209.82	−0.186%	$1.2M	$3.0M	10x	as long as short
Lighter TTWO	+0.0032%	1h	209.66	−0.262%	—	—	5x	as long as short
Extended TTWO-USD	+0.0040%	1h	209.89	−0.152%	$75K	$2K	10x	as long as short
Ondo Perps TTWO-USD.P	+0.0050%	1h	210.00	−0.100%	$332K	$204K	10x	as long as short
Variational Omni TTWO	+0.0053%	8h	210.03	−0.087%	$80K	$55K	—	as long as short
KuCoin TTWOUSDTM	+0.0100%	8h	209.78	−0.205%	$93K	$1.0M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TTWO-USDT	+0.0100%	8h	210.14	−0.033%	$3K	$38K	10x	as long as short
Binance TTWOUSDT	+0.0134%	8h	210.07	−0.067%	$2.3M	$904K	25x	as long as short
Paragon para:TTWOshort	+0.7388%	1h	211.12	+0.433%	$1.1M	$149K	10x