Funding arb · Price arb /

NOT

all NOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against OKX−0.178%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1461.464% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.178%, 7d avg +0.039%

Together, before fees+0.174%+$17 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 0.216% cheaper against OKX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOT-USDT-SWAP	0.0005069	0.0100	pay 0.0050% / 4h	2h 47m	$627K	$648K	20x
Short	Gate NOT_USDT	0.0005060	0.0100	get 0.0050% / 4h	2h 47m	$143K	$81K	50x

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 −0.178%Rate

Funding earned: $0
Price spread: −0.178% → +0.039%: −$21.61
Slippage, 4 orders: −$121.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$168
Costs to cover: 1.464%
Break-even: never at this rate

Slippage from OKX: live order book, 18 min ago; Gate: live order book, 13 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, 18 min ago	3.91 bp	27.8 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 13 min ago	9.88 bp	54.1 bp −$54	doesn't fit	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	−0.0231%	4h	0.0005058	−0.223%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.847%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0060%	4h	0.0005072	+0.059%	$112K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005075	+0.122%	$11K	$5K	3x	as long as short
KuCoin NOTUSDTM	+0.0098%	4h	0.0005060	−0.178%	$462K	$134K	50x	as long as short
Bybit NOTUSDT	+0.0098%	4h	0.0005061	−0.158%	$2.1M	$868K	25x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005070	+0.020%	$370K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005069	0.000%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005070	+0.020%	$2.1M	$3.2M	50x	as long as short
OKX NOT-USDT-SWAPlong	+0.0100%	4h	0.0005069	long leg	$627K	$648K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDTshort	+0.0100%	4h	0.0005060	−0.178%	$143K	$81K	50x
MEXC NOT_USDT	+0.0100%	4h	0.0005069	0.000%	$1.3M	$470K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005070	+0.020%	$669K	$408K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005068	−0.020%	—	$720K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005069	−0.004%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0202%	1h	0.0005079	+0.194%	$50K	$10K	10x	as long as short