Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: OKX against Derive+0.103%48s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Derive Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.103% dearer against Derive than usual: you sell high and buy low, +$10 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive CC-PERP	0.1175	0.0100	pay 0.0013% / 1h	25m 38s	$6K	$36K	6.7x
Short	OKX CC-USDT-SWAP	0.1176	0.0100	get 0.0050% / 4h	25m 38s	$2.5M	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Derive. 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 DerivebpFee OKXbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → 0.000%: $10.27
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$5.73
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; OKX: live order book, 2 min ago. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	1.27 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CC on 19 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
Injective CC/USDC PERP	−0.3320%	1h	0.1164	−0.952%	$6K	$99	5.5x	as long as short
Paradex CC-USD-PERP	+0.0097%	8h	0.1176	+0.074%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1179	+0.282%	$35K	$38K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1176	+0.057%	$11.1M	$11.2M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1176	+0.077%	$10.7M	$3.8M	25x	as long as short
OKX CC-USDT-SWAPshort	+0.0100%	4h	0.1176	+0.103%	$2.5M	$3.5M	20x
Gate CC_USDT	+0.0100%	4h	0.1176	+0.094%	$363K	$214K	50x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1176	+0.043%	$1.6M	$315K	100x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1178	+0.239%	$499K	$116K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1176	+0.103%	$939K	$788K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1176	+0.094%	—	$6.6M	—	as long as short
Variational Omni CC	+0.0100%	4h	0.1177	+0.121%	$587K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1178	+0.251%	$82K	$2.3M	10x	as long as short
Derive CC-PERPlong	+0.0100%	1h	0.1175	long leg	$6K	$36K	6.7x
Backpack CC_USDC_PERP	+0.0172%	1h	0.1176	+0.035%	$15K	$22K	10x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1179	+0.341%	$591K	$107K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0446% / S −0.0241%	1h	0.1176	+0.105%	$44K	—	50x	as long as short
Hyperliquid CC	+0.0603%	1h	0.1179	+0.332%	$5.5M	$1.4M	3x	as long as short
Lighter CC	+0.1096%	1h	0.1181	+0.460%	$235K	$154K	5x	as long as short