Funding you earn now, next payment 08:00 UTC−0.0071%/8h= −7.8% APRnext payment −$0.71 per $10,000 · paid last 24h +0.010%
Price spread now: Binance against OKX+0.040%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$141as in the Price arb table
costs, in and out, $10k−$1421.420% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 2 days (all we have)+0.060%+$6 · spread now +0.040%, 7d avg +0.035%
=The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.086%, 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 SMH-USDT-SWAP | 592.29 | 0.0071 | pay 0.0071% / 8h | 6m 19s | $499K | $356K | 20x |
| Short | Binance SMHUSDT | 592.53 | 0 | get 0.0000% / 8h | 6m 19s | $720K | $810K | 20x |
OKX SMH-USDT-SWAP
Binance SMHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15
- Price spread: +0.040% → +0.035%
- $0.55
- Slippage, 4 orders
- −$121.98
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$156.43
- Costs to cover
- 1.420%
- Break-even
- never at this rate
Slippage from OKX: live order book, 29 min ago; Binance: live order book, 71 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, 29 min ago | 2.11 bp | 51.7 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 71 min ago | 4.30 bp | 18.5 bp −$19 | 69.1 bp −$691 | doesn't fit | doesn't fit |
SMH on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance SMHUSDTshort | 0.0000% | 8h | 592.53 | +0.040% | $720K | $810K | 20x | |
| Bybit SMHUSDT | 0.0000% | 8h | 592.27 | −0.003% | $299K | $388K | 25x | as long as short |
| QFEX SMH-USD | 0.0000% | 1h | 592.16 | −0.022% | $1.1M | $6.2M | 10x | as long as short |
| Gate SMH_USDT | 0.0000% | 8h | 592.10 | −0.032% | $185K | $30K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 592.41 | +0.020% | $561K | $130K | 20x | as long as short |
| Bitget SMHUSDT | 0.0000% | 8h | 592.64 | +0.059% | $679K | $51K | 20x | as long as short |
| BloFin SMH-USDT | +0.0015% | 8h | 592.80 | +0.086% | $47K | $29K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 592.19 | −0.017% | — | — | 25x | as long as short |
| OKX SMH-USDT-SWAPlong | +0.0071% | 8h | 592.29 | long leg | $499K | $356K | 20x | |
| HTX SMH-USDT | +0.0100% | 8h | 595.09 | +0.473% | $7K | $47K | 10x | as long as short |
Bybit SMHUSDT
QFEX SMH-USD
Gate SMH_USDT
MEXC SMH_USDT
Bitget SMHUSDT
BloFin SMH-USDT
Vest SMH-USD-PERP
HTX SMH-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:SMH | +0.0505% | 1h | 592.30 | +0.002% | $3.2M | $2.0M | 20x | as long as short |
tradeXYZ xyz:SMH