Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.067%

Price spread now: OKX against Coinbase International−1.171%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$265as in the Price arb table

costs, in and out, $10k−$1441.437% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 4 days (all we have)+1.202%+$120 · spread now −1.171%, 7d avg +0.046%

Together, before fees+1.733%+$173 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 1.217% cheaper against Coinbase International than usual: you would sell low and buy high (spread −1.171% now, against its 7-day average of +0.046%). If the spread goes back, that is −$122 on $10k: about 31 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SEI-PERP-INTX	0.06149	−0.0032	get 0.0004% / 1h	15m 03s	$43K	$221K	50x
Short	OKX SEI-USDT-SWAP	0.06077	0.0100	get 0.0050% / 4h	15m 03s	$3.5M	$40.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now −1.171%Rate

Funding earned: $27.72
Price spread: −1.171% → +0.046%: −$121.7
Slippage, 4 orders: −$123.67
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$237.65
Costs to cover: 1.437%
Break-even: 67.0 days

Slippage from Coinbase International: live order book, 43 min ago; OKX: live order book, 4 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 Coinbase International live order book, 43 min ago	15.58 bp	56.6 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.47 bp	14.2 bp −$14	36.9 bp −$369	doesn't fit	doesn't fit

SEI on 27 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 SEI	−0.0209%	8h	0.06074	−1.213%	$324K	$187K	—	as long as short
Coinbase International SEI-PERP-INTXlong	−0.0032%	1h	0.06149	long leg	$43K	$221K	50x
gTrade (Gains Network) SEI/USD	L −0.0006% / S +0.0006%	1h	0.06083	−1.073%	—	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.06083	−1.073%	$10K	$72K	25x	as long as short
Bybit SEIUSDT	+0.0038%	8h	0.06073	−1.236%	$14.6M	$36.2M	50x	as long as short
GMX SEI/USD [ETH-USDC]	L +0.0041% / S +0.0105%	1h	0.06087	−1.010%	$6K	—	100x	as long as short
Lighter SEI	+0.0096%	1h	0.06085	−1.041%	$277K	$1.2M	10x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.06083	−1.080%	$3.5M	$5.5M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.06085	−1.036%	$318K	$354K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.06081	−1.106%	$15.1M	$130.2M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SEI-USDT-SWAPshort	+0.0100%	4h	0.06077	−1.171%	$3.5M	$40.3M	50x
Gate SEI_USDT	+0.0100%	8h	0.06086	−1.025%	$1.1M	$3.4M	75x	as long as short
MEXC SEI_USDT	+0.0100%	8h	0.06083	−1.073%	$35.5M	$28.7M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.06085	−1.041%	$6.6M	$14.5M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.06084	−1.057%	$10.0M	$16.7M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.06080	−1.122%	—	$31.4M	—	as long as short
Backpack SEI_USDC_PERP	+0.0100%	1h	0.06080	−1.122%	$107K	$617K	10x	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.06087	−1.001%	$206K	$1.9M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.06090	−0.960%	$110K	$667K	50x	as long as short
Orderly PERP_SEI_USDC	+0.0100%	8h	0.06081	−1.106%	$2K	$70K	20x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.06090	−0.960%	$23K	$4.2M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.06081	−1.112%	$77K	$548K	25x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.06090	−0.960%	$769K	$1.3M	75x	as long as short
Injective SEI/USDC PERP	+0.0267%	1h	0.06080	−1.122%	$9K	$43K	12x	as long as short
Kraken Futures PF_SEIUSD	+0.0311%	1h	0.06082	−1.085%	$378K	$1.5M	50x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.06084	−1.057%	$116	—	20x	as long as short
dYdX SEI-USD	+0.0957%	1h	0.06082	−1.083%	$104K	$2K	5x	as long as short