Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: OKX against BingX−0.022%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1021.019% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 7 days+0.067%+$7 · spread now −0.022%, 7d avg −0.001%

Together, before fees−0.136%−$14 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: OKX is 0.021% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04576	0.0100	pay 0.0050% / 4h	1h 54m	—	$7.0M	—
Short	OKX S-USDT-SWAP	0.04575	0.0100	get 0.0050% / 4h	1h 54m	$1.4M	$6.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.001%: −$2.11
Slippage, 4 orders: −$81.86
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$103.97
Costs to cover: 1.019%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; OKX: live order book, 1 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 BingX live order book, 1 min ago	4.38 bp	23.6 bp −$24	73.6 bp −$736	470.4 bp −$47.0K	770.2 bp −$385.1K
Sell OKX live order book, 1 min ago	3.29 bp	29.8 bp −$30	doesn't fit	doesn't fit	doesn't fit

S on 25 exchanges

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
01 Exchange SUSD	−1.0592%	1h	0.04440	−2.972%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.4590%	1h	0.04572	−0.078%	$39K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04128	−9.790%	$50K	$18K	25x	as long as short
Variational Omni S	−0.0695%	4h	0.04567	−0.200%	$703K	$11K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0336% / S +0.0211%	1h	0.04586	+0.225%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04573	−0.068%	$5	—	15x	as long as short
Orderly PERP_S_USDC	−0.0029%	4h	0.04582	+0.131%	$114K	$646K	10x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04589	+0.284%	$77K	$512	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04586	+0.223%	$706	—	150x	as long as short
Lighter S	+0.0096%	1h	0.04581	+0.109%	$159K	$141K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04579	+0.063%	$1.2M	$855K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04588	+0.262%	$48K	$154K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04580	+0.081%	$6.8M	$20.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04574	−0.044%	$6.5M	$5.3M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.04575	−0.022%	$1.4M	$6.2M	20x
Gate S_USDT	+0.0100%	4h	0.04582	+0.131%	$386K	$227K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04591	+0.328%	$4.4M	$3.0M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04577	+0.022%	$2.2M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04579	+0.066%	$1.4M	$2.9M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04576	long leg	—	$7.0M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04610	+0.743%	$26K	$523K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04578	+0.054%	$243K	$1.3M	10x	as long as short
Injective S/USDC PERP	+0.0140%	1h	0.04600	+0.524%	$2K	$2	12x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04572	−0.087%	$332K	$217K	75x	as long as short
Backpack S_USDC_PERP	+0.0641%	1h	0.04590	+0.306%	$109K	$463K	5x	as long as short