S

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0079%/8h= +8.7% APRnext payment +$0.40 per $10,000 · paid last 24h +0.025%

Price spread now: OKX against Orderly−0.330%50s7-day average −0.024% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.466%+$47 on $10k

Price spread, last 4 days (all we have)+0.503%+$50 · spread now −0.330%, 7d avg −0.024%

Together, before fees+0.969%+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.306% cheaper against Orderly than usual: you would sell low and buy high (spread −0.330% now, against its 7-day average of −0.024%). If the spread goes back, that is −$31 on $10k: about 13 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.466% in total) that is about 4.6 days. The two prices were read 50 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	Orderly PERP_S_USDC	0.04541	−0.0116	get 0.0058% / 4h	1h 06m	$112K	$637K	10x
Short	OKX S-USDT-SWAP	0.04526	−0.0037	pay 0.0018% / 4h	1h 06m	$1.4M	$7.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpFee OKXbpOrdersPrice spread, now −0.330%Rate

Funding earned: $16.68
Price spread: −0.330% → −0.024%: −$30.64
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.96
Costs to cover: 0.160%
Break-even: 19.6 days

Slippage unknown: Orderly: no order-book sample; OKX: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	4.43 bp	34.9 bp −$35	151.9 bp −$1,519	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.0720%	1h	0.04430	−2.444%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.4630%	1h	0.04533	−0.169%	$38K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04510	−0.683%	$55K	$23K	25x	as long as short
Variational Omni S	−0.1230%	4h	0.04513	−0.620%	$722K	$49K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0336% / S +0.0211%	1h	0.04551	+0.218%	$2K	—	100x	as long as short
Orderly PERP_S_USDClong	−0.0116%	4h	0.04541	long leg	$112K	$637K	10x
Reya SRUSDPERP	−0.0101%	1h	0.04518	−0.505%	$5	—	15x	as long as short
OKX S-USDT-SWAPshort	−0.0037%	4h	0.04526	−0.330%	$1.4M	$7.6M	20x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04532	−0.192%	$697	—	150x	as long as short
Bybit SUSDT	+0.0028%	4h	0.04519	−0.484%	$6.5M	$6.7M	50x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.04535	−0.132%	$158K	$158K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04537	−0.088%	$1.1M	$1.0M	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04526	−0.333%	$48K	$170K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04527	−0.312%	$6.9M	$25.9M	75x	as long as short
Gate S_USDT	+0.0100%	4h	0.04533	−0.176%	$384K	$387K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04534	−0.154%	$4.0M	$3.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04532	−0.198%	$2.2M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04529	−0.264%	$1.4M	$3.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04530	−0.242%	—	$7.1M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04540	−0.022%	$24K	$532K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04527	−0.319%	$258K	$1.3M	10x	as long as short
Injective S/USDC PERP	+0.0140%	1h	0.04600	+1.299%	$2K	$2	12x	as long as short
Backpack S_USDC_PERP	+0.0176%	1h	0.04560	+0.418%	$103K	$458K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04540	−0.022%	$366K	$240K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0630%	1h	0.04547	+0.132%	$76K	$623	10x	as long as short