Funding you earn now, next payment 00:00 UTC−0.2390%/8h= −261.8% APRnext payment −$11.95 per $10,000 · paid last 24h −0.773%
Price spread now: OKX against Bybit+0.373%7-day average −0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$227as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1451.450% of the position
Funding, last 7 days−0.823%−$82 on $10k
+Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.373%, 7d avg −0.015%
=The price spread pays, funding is against you. OKX is 0.388% dearer against Bybit than usual: you sell high and buy low (spread +0.373% now, against its 7-day average of −0.015%): +$39 on $10k if it goes back. Holding the pair costs −$72 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.823% in total) that is about 3.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.823% in total (about -42.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$11.95 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 | Bybit ESPUSDT | 0.09375 | 0.2490 | pay 0.1245% / 4h | 22m 23s | $1.1M | $592K | 50x |
| Short | OKX ESP-USDT-SWAP | 0.09410 | 0.0100 | get 0.0050% / 4h | 22m 23s | $595K | $1.3M | 20x |
Bybit ESPUSDT
OKX ESP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. 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
- −$501.99
- Price spread: +0.373% → −0.015%
- $38.84
- Slippage, 4 orders
- −$123.97
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$608.12
- Costs to cover
- 1.450%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 4 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 Bybit live order book, 3 min ago | 1.60 bp | 43.8 bp −$44 | 305.0 bp −$3,050 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 1.06 bp | 30.1 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
ESP on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin ESP-USDT | +0.0100% | 4h | 0.09383 | +0.085% | $121K | $35K | 25x | as long as short |
| Aster ESPUSDT | +0.0100% | 4h | 0.09398 | +0.241% | $4K | $24K | 5x | as long as short |
| Binance ESPUSDT | +0.0100% | 4h | 0.09402 | +0.284% | $2.4M | $4.2M | 25x | as long as short |
| OKX ESP-USDT-SWAPshort | +0.0100% | 4h | 0.09410 | +0.373% | $595K | $1.3M | 20x | |
| Gate ESP_USDT | +0.0100% | 8h | 0.09401 | +0.277% | $169K | $614K | 50x | as long as short |
| MEXC ESP_USDT | +0.0100% | 4h | 0.09397 | +0.235% | $1.2M | $105K | 20x | as long as short |
| KuCoin ESPUSDTM | +0.0100% | 4h | 0.09400 | +0.267% | $1.5M | $52K | 25x | as long as short |
| Bitget ESPUSDT | +0.0100% | 4h | 0.09404 | +0.308% | $946K | $129K | 20x | as long as short |
| edgeX ESPUSDC | +0.0112% | 4h | 0.09389 | +0.148% | $29K | $269K | 10x | as long as short |
| BingX ESP-USDT | +0.2388% | 4h | 0.09400 | +0.267% | — | $1.7M | — | as long as short |
BloFin ESP-USDT
Aster ESPUSDT
Binance ESPUSDT
Gate ESP_USDT
MEXC ESP_USDT
KuCoin ESPUSDTM
Bitget ESPUSDT
edgeX ESPUSDC
BingX ESP-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ESPUSDTlong | +0.2490% | 4h | 0.09375 | long leg | $1.1M | $592K | 50x |