Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bybit+0.041%7-day average −0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1431.434% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days−0.174%−$17 · spread now +0.041%, 7d avg −0.114%

Together, before fees−0.057%−$6 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 0.154% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02456	0.0100	pay 0.0050% / 4h	17m 59s	$1.5M	$766K	25x
Short	OKX STABLE-USDT-SWAP	0.02457	0.0100	get 0.0050% / 4h	17m 59s	$210K	$444K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → −0.114%: $15.42
Slippage, 4 orders: −$122.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$127.93
Costs to cover: 1.434%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 18 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 Bybit live order book, 3 min ago	4.09 bp	30.6 bp −$31	470.2 bp −$4,702	doesn't fit	doesn't fit
Sell OKX live order book, 18 min ago	6.16 bp	26.8 bp −$27	2154.1 bp −$21.5K	doesn't fit	doesn't fit

STABLE on 15 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
BloFin STABLE-USDT	+0.0049%	4h	0.02443	−0.529%	$113K	$10K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02462	+0.252%	$113K	$10K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02450	−0.224%	$862K	$174K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02451	−0.193%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02452	−0.166%	$2.5M	$2.6M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02456	long leg	$1.5M	$766K	25x
OKX STABLE-USDT-SWAPshort	+0.0100%	4h	0.02457	+0.041%	$210K	$444K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02452	−0.163%	$175K	$57K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02452	−0.163%	$587K	$165K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02457	+0.041%	$181K	$29K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02453	−0.122%	$283K	$90K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02453	−0.122%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02445	−0.445%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02454	−0.102%	$1K	$928K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02451	−0.202%	$13K	$207K	10x	as long as short