Funding arb · Price arb /

NOK

RWAall NOK markets

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 +0.039%

Price spread now: OKX against Phemex0.000%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$207as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2122.117% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now 0.000%, 7d avg +0.084%

Together, before fees+0.200%+$20 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: OKX is 0.084% cheaper against Phemex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NOKUSDT	10.960	0	get 0.0000% / 8h	3h 39m	$1.6M	$549K	10x
Short	OKX NOK-USDT-SWAP	10.960	0	get 0.0000% / 8h	3h 39m	$1.2M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Phemex. 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 PhemexbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.084%: −$8.37
Slippage, 4 orders: −$189.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$220.04
Costs to cover: 2.117%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; OKX: live order book, 2 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 Phemex live order book, 4 min ago	4.55 bp	66.0 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.46 bp	37.7 bp −$38	235.2 bp −$2,352	doesn't fit	doesn't fit

NOK on 16 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 NOKUSDT	0.0000%	8h	10.936	−0.219%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	10.948	−0.108%	$38K	$164K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	10.951	−0.084%	$7.4M	$9.1M	20x	as long as short
OKX NOK-USDT-SWAPshort	0.0000%	8h	10.960	0.000%	$1.2M	$1.2M	20x
Gate NOK_USDT	0.0000%	8h	10.962	+0.018%	$951K	$989K	50x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	10.950	−0.091%	$1.6M	$112K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	10.988	+0.255%	$1.5M	$604K	20x	as long as short
Variational Omni NOK	0.0000%	8h	10.963	+0.028%	$136K	$113K	—	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	10.974	+0.129%	$3K	$146K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	10.960	0.000%	$895	$1.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOK-USDT	0.0000%	8h	10.990	+0.274%	$9K	$5K	10x	as long as short
Phemex NOKUSDTlong	0.0000%	8h	10.960	long leg	$1.6M	$549K	10x
Lighter NOK	+0.0032%	1h	10.929	−0.283%	—	—	10x	as long as short
Vest NOK-PERP	+0.0046%	1h	10.940	−0.182%	—	—	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	10.950	−0.091%	$299K	$401K	20x	as long as short
tradeXYZ xyz:NOK	+0.0204%	1h	10.947	−0.119%	$4.2M	$1.1M	10x	as long as short