Funding you earn now, next payment 00:00 UTC−0.0121%/8h= −13.3% APRnext payment −$0.61 per $10,000 · paid last 24h −0.030%
Price spread now: OKX against Gate−0.034%7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$470as in the Funding arb table
Net, price: spread back to 7d avg − costs−$471as in the Price arb table
costs, in and out, $10k−$4654.647% of the position
Funding, last 7 days−0.055%−$6 on $10k
+Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.034%, 7d avg +0.031%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.065% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.031%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate W_USDT | 0.01179 | 0.0100 | pay 0.0050% / 4h | 23m 54s | $445K | $291K | 75x |
| Short | OKX W-USDT-SWAP | 0.01178 | −0.0021 | pay 0.0011% / 4h | 23m 54s | $1.3M | $2.0M | 20x |
Gate W_USDT
OKX W-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Gate. 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
- −$25.42
- Price spread: −0.034% → +0.031%
- −$6.54
- Slippage, 4 orders
- −$439.73
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$496.69
- Costs to cover
- 4.647%
- Break-even
- never at this rate
Slippage from Gate: live order book, 52 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 Gate live order book, 52 min ago | 8.07 bp | 191.8 bp −$192 | 23952.3 bp −$239.5K | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 0.85 bp | 29.7 bp −$30 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0428% | 1h | 0.01180 | +0.093% | $17K | $1K | 10x | as long as short |
| OKX W-USDT-SWAPshort | −0.0021% | 4h | 0.01178 | −0.034% | $1.3M | $2.0M | 20x | |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.579% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01180 | +0.119% | $2.0M | $421K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01179 | +0.042% | $2.9M | $6.8M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01178 | −0.051% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDTlong | +0.0100% | 4h | 0.01179 | long leg | $445K | $291K | 75x | |
| MEXC W_USDT | +0.0100% | 4h | 0.01179 | +0.059% | $12.8M | $1.5M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01182 | +0.288% | $465K | $215K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01181 | +0.204% | $1.3M | $572K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
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 | 0.01179 | +0.034% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01178 | −0.041% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01180 | +0.134% | $130K | $363K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01179 | +0.021% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0248% | 1h | 0.01183 | +0.365% | $14K | $16K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0536% | 1h | 0.01181 | +0.187% | $44K | $46K | 15x | as long as short |
| Kraken Futures PF_WUSD | +0.0719% | 1h | 0.01182 | +0.306% | $146K | $181K | 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