Funding you earn now, next payment 00:00 UTC−0.0201%/8h= −22.0% APRnext payment −$1.01 per $10,000 · paid last 24h −0.030%
Price spread now: OKX against Binance−0.078%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$1071.074% of the position
Funding, last 7 days−0.041%−$4 on $10k
+Price spread, last 7 days+0.072%+$7 · spread now −0.078%, 7d avg −0.024%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and OKX is 0.054% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.024%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.041% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.01 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance WUSDT | 0.01178 | 0.0100 | pay 0.0050% / 4h | 1h 06m | $3.0M | $6.9M | 50x |
| Short | OKX W-USDT-SWAP | 0.01177 | −0.0101 | pay 0.0051% / 4h | 1h 06m | $1.3M | $2.0M | 20x |
Binance WUSDT
OKX W-USDT-SWAPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$42.29
- Price spread: −0.078% → −0.024%
- −$5.45
- Slippage, 4 orders
- −$87.42
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$155.16
- Costs to cover
- 1.074%
- Break-even
- never at this rate
Slippage from Binance: live order book, 2 min ago; OKX: live order book, 5 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 | 1.27 bp | 18.5 bp −$18 | 110.2 bp −$1,102 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 1.27 bp | 32.6 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX W-USDT-SWAPshort | −0.0101% | 4h | 0.01177 | −0.078% | $1.3M | $2.0M | 20x | |
| Deribit W_USDC-PERPETUAL | 0.0000% | 1h | 0.01178 | −0.010% | $17K | $1K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.638% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01178 | +0.007% | $2.0M | $425K | 5x | as long as short |
| Binance WUSDTlong | +0.0100% | 4h | 0.01178 | long leg | $3.0M | $6.9M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01176 | −0.129% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01175 | −0.214% | $443K | $294K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01178 | +0.015% | $12.8M | $1.5M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01179 | +0.092% | $461K | $218K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01178 | +0.007% | $1.3M | $572K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Bybit WUSDT
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01177 | −0.044% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01175 | −0.249% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01176 | −0.138% | $129K | $385K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01178 | +0.004% | $59K | $276K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0240% | 1h | 0.01181 | +0.236% | $14K | $17K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0385% | 1h | 0.01179 | +0.058% | $44K | $47K | 15x | as long as short |
| Kraken Futures PF_WUSD | +0.0397% | 1h | 0.01180 | +0.186% | $146K | $182K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP
Kraken Futures PF_WUSD