INIT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0045%/8h= −4.9% APRnext payment −$0.22 per $10,000 · paid last 24h −0.003%

Price spread now: OKX against BloFin−0.060%103s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1401.403% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.089%+$9 · spread now −0.060%, 7d avg −0.029%

Together, before fees+0.083%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.031% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.029%). Swap the legs. The two prices were read 103 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	BloFin INIT-USDT	0.08269	0.0145	pay 0.0072% / 4h	3h 33m	$154K	$112K	25x
Short	OKX INIT-USDT-SWAP	0.08264	0.0100	get 0.0050% / 4h	3h 33m	$137K	$643K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BloFin. 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 BloFinbpFee OKXbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$9.4
Price spread: −0.060% → −0.029%: −$3.15
Slippage, 4 orders: −$118.33
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$152.88
Costs to cover: 1.403%
Break-even: never at this rate

Slippage from BloFin: live order book, 23 min ago; OKX: live order book, 37 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 BloFin live order book, 23 min ago	2.42 bp	25.3 bp −$25	62.6 bp −$626	doesn't fit	doesn't fit
Sell OKX live order book, 37 min ago	4.85 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08270	+0.006%	$301K	$234K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08265	−0.051%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08263	−0.078%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08258	−0.133%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08264	−0.060%	$137K	$643K	10x
Gate INIT_USDT	+0.0100%	8h	0.08257	−0.145%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08266	−0.036%	$449K	$219K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08270	+0.012%	$329K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08263	−0.073%	$431K	$310K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08259	−0.121%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08260	−0.112%	$26K	$23K	—	as long as short
BloFin INIT-USDTlong	+0.0145%	4h	0.08269	long leg	$154K	$112K	25x
Kraken Futures PF_INITUSD	+0.0192%	1h	0.08270	+0.009%	$5K	$17K	10x	as long as short