Funding arb · Price arb /

W

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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 +0.030%

Price spread now: Binance against OKX+0.221%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$1061.059% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 7 days−0.211%−$21 · spread now +0.221%, 7d avg +0.026%

Together, before fees−0.155%−$16 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: Binance is 0.194% dearer against OKX than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01181	0.0100	pay 0.0050% / 4h	3h 25m	$1.3M	$1.8M	20x
Short	Binance WUSDT	0.01183	0.0100	get 0.0050% / 4h	3h 25m	$2.9M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.221%Rate

Funding earned: $0
Price spread: +0.221% → +0.026%: $19.44
Slippage, 4 orders: −$85.87
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$86.43
Costs to cover: 1.059%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Binance: live order book, 13 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 OKX live order book, 2 min ago	2.54 bp	35.1 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	2.95 bp	20.8 bp −$21	81.4 bp −$814	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	−0.0003%	1h	0.01183	+0.237%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.406%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01184	+0.288%	$2.0M	$323K	5x	as long as short
Binance WUSDTshort	+0.0100%	4h	0.01183	+0.221%	$2.9M	$5.9M	50x
Bybit WUSDT	+0.0100%	4h	0.01180	−0.017%	$4.1M	$1.7M	50x	as long as short
OKX W-USDT-SWAPlong	+0.0100%	4h	0.01181	long leg	$1.3M	$1.8M	20x
Gate W_USDT	+0.0100%	4h	0.01180	−0.051%	$445K	$212K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01184	+0.254%	$12.7M	$1.3M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01184	+0.288%	$380K	$205K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01184	+0.288%	$1.3M	$551K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01182	+0.119%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01180	−0.023%	$71K	$39K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	+0.565%	$128K	$402K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01183	+0.225%	$61K	$235K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0440%	1h	0.01195	+1.254%	$14K	$14K	50x	as long as short
Backpack W_USDC_PERP	+0.1629%	1h	0.01184	+0.296%	$44K	$42K	15x	as long as short
Kraken Futures PF_WUSD	+0.1765%	1h	0.01186	+0.454%	$147K	$185K	20x	as long as short