Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h +0.012%

Price spread now: Coinbase International against OKX−0.131%7-day average −0.283% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.131%, 7d avg −0.283%

Together, before fees+0.241%+$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.152% dearer against OKX than usual: you sell high and buy low (spread −0.131% now, against its 7-day average of −0.283%): +$15 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.9 days. Mind the row above: over the last 7 days funding on this pair paid +0.202%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BE-USDT-SWAP	275.75	0.0258	pay 0.0258% / 8h	7h 25m	$2.6M	$6.8M	25x
Short	Coinbase International BE-PERP-INTX	275.39	0.0128	get 0.0016% / 1h	25m 06s	$477K	$132K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$27.34
Price spread: −0.131% → −0.283%: $15.23
Slippage, 4 orders: −$22.56
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$54.66
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 48 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, 3 min ago	2.36 bp	11.5 bp −$11	81.6 bp −$816	doesn't fit	doesn't fit
Sell Coinbase International live order book, 48 min ago	2.19 bp	8.8 bp −$9	18.9 bp −$189	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	275.41	−0.124%	$347K	$119K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	275.67	−0.029%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	275.50	−0.091%	$1.5M	$3.4M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	275.61	−0.051%	$1.7M	$2.6M	20x	as long as short
SunX BE-USDT	0.0000%	8h	275.74	−0.004%	$1K	$2.5M	10x	as long as short
HTX BE-USDT	0.0000%	8h	275.97	+0.080%	$13K	$33K	20x	as long as short
Lighter BE	+0.0032%	1h	275.50	−0.091%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	275.57	−0.065%	$252K	$300K	10x	as long as short
QFEX BE-USD	+0.0037%	1h	275.72	−0.011%	$1.3M	$3.6M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	275.42	−0.120%	$115K	$112K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BE-USD-PERP	+0.0046%	1h	275.72	−0.011%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	275.46	−0.105%	$6.0M	$2.9M	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0077%	1h	275.62	−0.047%	$7K	$4K	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	275.47	−0.102%	$372K	$22K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	275.69	−0.020%	—	—	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0128%	1h	275.39	−0.131%	$477K	$132K	10x
Extended BE-USD	+0.0160%	1h	275.66	−0.033%	$47K	$337K	10x	as long as short
Binance BEUSDT	+0.0162%	8h	275.71	−0.015%	$8.6M	$36.3M	25x	as long as short
OKX BE-USDT-SWAPlong	+0.0258%	8h	275.75	long leg	$2.6M	$6.8M	25x
BloFin BE-USDT	+0.0282%	8h	275.76	+0.004%	$45K	$142K	20x	as long as short
GRVT BE_USDT_Perp	+0.0614%	8h	275.95	+0.072%	$7K	$175K	10x	as long as short