Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX+0.023%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$900.902% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.095%−$9 · spread now +0.023%, 7d avg −0.052%

Together, before fees−0.095%−$9 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 0.075% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COST-USDT-SWAP	899.28	0	get 0.0000% / 8h	4h 21m	$432K	$134K	10x
Short	Bybit COSTUSDT	899.49	0	get 0.0000% / 8h	4h 21m	$472K	$192K	25x

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 +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.052%: $7.5
Slippage, 4 orders: −$69.19
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$82.69
Costs to cover: 0.902%
Break-even: never at this rate

Slippage from OKX: live order book, 8 min ago; Bybit: live order book, 7 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, 8 min ago	6.90 bp	38.0 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 7 min ago	8.73 bp	22.1 bp −$22	139.5 bp −$1,395	doesn't fit	doesn't fit

COST on 15 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 COSTUSDT	0.0000%	8h	899.27	−0.001%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.44	+0.018%	$1.1M	$930K	20x	as long as short
Bybit COSTUSDTshort	0.0000%	8h	899.49	+0.023%	$472K	$192K	25x
OKX COST-USDT-SWAPlong	0.0000%	8h	899.28	long leg	$432K	$134K	10x
Gate COST_USDT	0.0000%	8h	899.22	−0.007%	$523K	$26K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	899.15	−0.014%	$398K	$124K	25x	as long as short
Variational Omni COST	0.0000%	8h	899.28	0.000%	$44K	$18K	—	as long as short
SunX COST-USDT	0.0000%	8h	898.90	−0.042%	$1K	$3.2M	10x	as long as short
HTX COST-USDT	0.0000%	8h	901.13	+0.206%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0004%	1h	899.47	+0.021%	$1.1M	$2.3M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.812%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.89	−0.044%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	899.07	−0.023%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	899.11	−0.019%	$1.8M	$535K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	899.00	−0.031%	$40K	$926K	20x	as long as short