Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against OKX−0.406%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1031.032% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.546%+$55 · spread now −0.406%, 7d avg +0.034%

Together, before fees+0.559%+$56 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.440% cheaper against OKX than usual: you would sell low and buy high, −$44 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BASED-USDT-SWAP	0.06899	0.0100	pay 0.0050% / 4h	2h 28m	$2.7M	$3.8M	20x
Short	Gate BASED_USDT	0.06871	0.0100	get 0.0050% / 4h	2h 28m	$540K	$564K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.406%Rate

Funding earned: $0
Price spread: −0.406% → +0.034%: −$43.96
Slippage, 4 orders: −$78.2
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$147.16
Costs to cover: 1.032%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Gate: live order book, 38 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, 4 min ago	2.19 bp	19.0 bp −$19	104.5 bp −$1,045	doesn't fit	doesn't fit
Sell Gate live order book, 38 min ago	7.27 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit

BASED on 14 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
Binance BASEDUSDT	+0.0100%	4h	0.06892	−0.101%	$4.3M	$3.2M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06881	−0.261%	$2.1M	$657K	25x	as long as short
OKX BASED-USDT-SWAPlong	+0.0100%	4h	0.06899	long leg	$2.7M	$3.8M	20x
Gate BASED_USDTshort	+0.0100%	4h	0.06871	−0.406%	$540K	$564K	50x
MEXC BASED_USDT	+0.0100%	4h	0.06889	−0.145%	$4.9M	$629K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06875	−0.348%	$571K	$70K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06900	+0.014%	$1.3M	$386K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06891	−0.116%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06840	−0.849%	$94K	$17K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06840	−0.856%	$92K	$379K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06901	+0.029%	$1K	$876K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06894	−0.068%	$3K	$205K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0268%	4h	0.06892	−0.101%	$3K	$1K	10x	as long as short
Aster BASEDUSDT	+0.0358%	4h	0.06875	−0.348%	$29K	$6K	5x	as long as short