Funding arb · Price arb /

CP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against OKX+0.075%7-day average −0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1551.553% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now +0.075%, 7d avg −0.137%

Together, before fees−0.238%−$24 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 0.211% dearer against OKX than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CP-USDT-SWAP	0.01341	0.0100	pay 0.0050% / 4h	2h 05m	$3.7M	$10.5M	20x
Short	Gate CP_USDT	0.01342	0.0100	get 0.0050% / 4h	2h 05m	$559K	$509K	20x

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 +0.075%Rate

Funding earned: $0
Price spread: +0.075% → −0.137%: $21.12
Slippage, 4 orders: −$130.27
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$134.15
Costs to cover: 1.553%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 15 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, 2 min ago	7.45 bp	20.6 bp −$21	151.1 bp −$1,511	doesn't fit	doesn't fit
Sell Gate live order book, 15 min ago	11.20 bp	53.4 bp −$53	doesn't fit	doesn't fit	doesn't fit

CP on 8 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
BingX CP-USDT	+0.0070%	4h	0.01341	0.000%	—	$1.0M	—	as long as short
BloFin CP-USDT	+0.0075%	4h	0.01342	+0.075%	$408	$37K	20x	as long as short
Bybit CPUSDT	+0.0100%	4h	0.01342	+0.075%	$1.5M	$2.2M	20x	as long as short
OKX CP-USDT-SWAPlong	+0.0100%	4h	0.01341	long leg	$3.7M	$10.5M	20x
Gate CP_USDTshort	+0.0100%	4h	0.01342	+0.075%	$559K	$509K	20x
MEXC CP_USDT	+0.0100%	4h	0.01341	0.000%	$1.4M	$384K	20x	as long as short
KuCoin CPUSDTM	+0.0100%	4h	0.01343	+0.149%	$197K	$959K	20x	as long as short
Bitget CPUSDT	+0.0100%	4h	0.01342	+0.067%	$745K	$1.5M	20x	as long as short