Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0475%/8h= −52.0% APRpaid last 24h −0.013%

Price spread now: tradeXYZ against OKX+0.016%7-day average −0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$211as in the Price arb table

costs, in and out, $10k−$2222.217% of the position

Long on OKX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.016%, 7d avg −0.090%

Together, before fees−0.142%+ Points / potential airdroptradeXYZ: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.106% dearer against OKX than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.090%): +$11 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 18 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.019% in total (about 1.0% a year). A funding rate is set anew for every payment. 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	OKX BX-USDT-SWAP	126.24	0	get 0.0000% / 8h	4h 32m	$163K	$113K	20x
Short	tradeXYZ xyz:BX	126.26	−0.0475	pay 0.0059% / 1h	32m 45s	$664K	$213K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$99.69
Price spread: +0.016% → −0.090%: $10.62
Slippage, 4 orders: −$193.65
Fee OKX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$310.72
Costs to cover: 2.217%
Break-even: never at this rate

Slippage from OKX: live order book, 22 min ago; tradeXYZ: live order book, 64 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, 22 min ago	4.36 bp	70.4 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 64 min ago	3.17 bp	29.5 bp −$29	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXshort	−0.0475%	1h	126.26	+0.016%	$664K	$213K	10x
Aster BXUSDT	0.0000%	8h	126.31	+0.052%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.29	+0.040%	$485K	$836K	25x	as long as short
OKX BX-USDT-SWAPlong	0.0000%	8h	126.24	long leg	$163K	$113K	20x
QFEX BX-USD	0.0000%	1h	127.04	+0.634%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.39	+0.119%	$424K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.45	+0.166%	$899K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.28	+0.035%	$883	$112K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.26	+0.016%	$1K	$313K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.34	+0.079%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0112%	8h	126.09	−0.119%	$110K	$950K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.902%	$4K	$32K	12x	as long as short
Variational Omni BX	+0.0492%	8h	126.27	+0.026%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0681%	8h	126.28	+0.033%	$780K	$489K	20x	as long as short