Funding arb · Price arb /

SAPIEN

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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: OKX against Binance+0.129%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1451.450% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.129%, 7d avg +0.108%

Together, before fees+0.023%+$2 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% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SAPIENUSDT	0.07769	0.0100	pay 0.0050% / 4h	3h 01m	$1.9M	$1.0M	25x
Short	OKX SAPIEN-USDT-SWAP	0.07779	0.0100	get 0.0050% / 4h	3h 01m	$163K	$79K	10x

Funding 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 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 BinancebpFee OKXbpOrdersPrice spread, now +0.129%Rate

Funding earned: $0
Price spread: +0.129% → +0.108%: $2.06
Slippage, 4 orders: −$125.05
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$142.99
Costs to cover: 1.450%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; OKX: live order book, 3 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, 2 min ago	1.28 bp	24.5 bp −$24	254.8 bp −$2,548	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	5.13 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit

SAPIEN 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
Aster SAPIENUSDT	+0.0100%	4h	0.07777	+0.100%	$45K	$4K	5x	as long as short
Binance SAPIENUSDTlong	+0.0100%	4h	0.07769	long leg	$1.9M	$1.0M	25x
Bybit SAPIENUSDT	+0.0100%	4h	0.07788	+0.245%	$498K	$100K	20x	as long as short
OKX SAPIEN-USDT-SWAPshort	+0.0100%	4h	0.07779	+0.129%	$163K	$79K	10x
Gate SAPIEN_USDT	+0.0100%	4h	0.07786	+0.219%	$862K	$66K	50x	as long as short
MEXC SAPIEN_USDT	+0.0100%	4h	0.07769	0.000%	$9.2M	$105K	50x	as long as short
KuCoin SAPIENUSDTM	+0.0100%	4h	0.07775	+0.077%	$703K	$2.9M	30x	as long as short
Bitget SAPIENUSDT	+0.0100%	4h	0.07770	+0.013%	$599K	$257K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07781	+0.154%	—	$6.5M	—	as long as short
Variational Omni SAPIEN	+0.0100%	4h	0.07815	+0.593%	$9K	$3K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAPIEN-USD	+0.0104%	1h	0.07766	−0.036%	$5K	$160K	5x	as long as short
BloFin SAPIEN-USDT	+0.0160%	4h	0.07799	+0.386%	$90K	$15K	25x	as long as short