Funding arb · Price arb /

COIN

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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 +0.001%

Price spread now: Bybit against OKX−0.041%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 7 days+0.088%+$9 · spread now −0.041%, 7d avg +0.008%

Together, before fees+0.134%+$13 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: Bybit is 0.048% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COIN-USDT-SWAP	196.74	0	get 0.0000% / 8h	3h 13m	$3.0M	$4.7M	20x
Short	Bybit COINUSDT	196.66	0	get 0.0000% / 8h	3h 13m	$4.8M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.008%: −$4.83
Slippage, 4 orders: −$27.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$53.73
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	2.29 bp	12.4 bp −$12	21.1 bp −$211	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.02 bp	12.7 bp −$13	37.2 bp −$372	165.3 bp −$16.5K	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0721%	8h	196.81	+0.036%	$6.2M	$10.5M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.80	+0.030%	$43K	$48K	30x	as long as short
Gate COIN_USDT	−0.0226%	8h	196.68	−0.030%	$1.2M	$7.3M	50x	as long as short
Vest COIN-USD-PERP	−0.0109%	1h	196.07	−0.341%	—	$262K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.63	−0.056%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.61	−0.068%	$116K	$764K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.68	−0.030%	$14.7M	$80.4M	20x	as long as short
Bybit COINUSDTshort	0.0000%	8h	196.66	−0.041%	$4.8M	$6.1M	50x
OKX COIN-USDT-SWAPlong	0.0000%	8h	196.74	long leg	$3.0M	$4.7M	20x
Variational Omni COIN	0.0000%	8h	196.64	−0.051%	$684K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.78	+0.020%	$11K	$2.5M	10x	as long as short
QFEX COIN-USD	+0.0020%	1h	196.71	−0.015%	$1.3M	$3.2M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.55	−0.097%	$454K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.78	+0.020%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.53	−0.107%	$15.3M	$13.7M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.53	−0.107%	$133K	$1.2M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.62	−0.061%	$86	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.47	−0.137%	$350K	$2.7M	10x	as long as short
Lighter COIN	+0.0056%	1h	196.61	−0.067%	$380K	$2.1M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.56	−0.091%	$991K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.69	−0.025%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.66	−0.041%	$569	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.62	−0.059%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.78	+0.020%	$188K	$394K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.61	−0.066%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0778%	4h	196.79	+0.024%	$51K	$296K	10x	as long as short