Funding you earn now, next payment 04:00 UTC−0.0398%/8h= −43.5% APRnext payment −$1.99 per $10,000 · paid last 24h 0.000%
Price spread now: OKX against Binance+0.035%7-day average −0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$146as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1261.257% of the position
Funding, last 7 days−0.202%−$20 on $10k
+Price spread, last 7 days+0.014%+$1 · spread now +0.035%, 7d avg −0.021%
=The price spread pays, funding is against you. OKX is 0.056% dearer against Binance than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.021%): +$6 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.202% in total) that is about 46 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.202% in total (about -10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.99 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 | Binance GMTUSDT | 0.008551 | 0.0100 | pay 0.0050% / 4h | 1h 06m | $2.9M | $5.1M | 50x |
| Short | OKX GMT-USDT-SWAP | 0.008554 | −0.0298 | pay 0.0149% / 4h | 1h 06m | $394K | $1.2M | 20x |
Binance GMTUSDT
OKX GMT-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. 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
- −$83.51
- Price spread: +0.035% → −0.021%
- $5.58
- Slippage, 4 orders
- −$105.69
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$203.61
- Costs to cover
- 1.257%
- Break-even
- never at this rate
Slippage from Binance: live order book, 1 min ago; OKX: live order book, 5 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 Binance live order book, 1 min ago | 2.34 bp | 28.2 bp −$28 | 149.9 bp −$1,499 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 0.58 bp | 40.1 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
GMT on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_GMTUSD | −0.1562% | 1h | 0.008567 | +0.187% | $45K | $14K | 20x | as long as short |
| KuCoin GMTUSDTM | −0.0534% | 4h | 0.008570 | +0.222% | $280K | $192K | 50x | as long as short |
| OKX GMT-USDT-SWAPshort | −0.0298% | 4h | 0.008554 | +0.035% | $394K | $1.2M | 20x | |
| Bybit GMTUSDT | −0.0292% | 8h | 0.008551 | 0.000% | $1.1M | $1.9M | 50x | as long as short |
| Aster GMTUSDT | −0.0015% | 4h | 0.008572 | +0.250% | $7K | $22K | 10x | as long as short |
| Variational Omni GMT | +0.0032% | 8h | 0.008572 | +0.244% | $4K | $5K | — | as long as short |
| Gate GMT_USDT | +0.0086% | 8h | 0.008570 | +0.222% | $147K | $180K | 50x | as long as short |
| Bitget GMTUSDT | +0.0092% | 4h | 0.008580 | +0.339% | $677K | $638K | 50x | as long as short |
| Hyperliquid GMT | +0.0100% | 1h | 0.008553 | +0.023% | $114K | $152K | 3x | as long as short |
| Binance GMTUSDTlong | +0.0100% | 4h | 0.008551 | long leg | $2.9M | $5.1M | 50x |
Kraken Futures PF_GMTUSD
KuCoin GMTUSDTM
Bybit GMTUSDT
Aster GMTUSDT
Variational Omni GMT
Gate GMT_USDT
Bitget GMTUSDT
Hyperliquid GMTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC GMT_USDT | +0.0100% | 4h | 0.008550 | −0.012% | $444K | $215K | 20x | as long as short |
| BingX GMT-USDT | +0.0100% | 4h | 0.008563 | +0.140% | — | $1.3M | — | as long as short |
MEXC GMT_USDT
BingX GMT-USDT