Funding you earn now, next payment 08:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.36 per $10,000 · paid last 24h 0.000%
Price spread now: Bitget against OKX−0.135%7-day average +0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$120as in the Funding arb table
Net, price: spread back to 7d avg − costs−$141as in the Price arb table
costs, in and out, $10k−$1201.200% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.135%, 7d avg +0.078%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.213% cheaper against OKX than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.078%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SMH-USDT-SWAP | 592.50 | 0 | get 0.0000% / 8h | 1h 38m | $502K | $352K | 20x |
| Short | Bitget SMHUSDT | 591.70 | −0.0036 | pay 0.0036% / 8h | 1h 38m | $683K | $81K | 20x |
OKX SMH-USDT-SWAP
Bitget SMHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$7.56
- Price spread: −0.135% → +0.078%
- −$21.31
- Slippage, 4 orders
- −$97.96
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$148.82
- Costs to cover
- 1.200%
- Break-even
- never at this rate
Slippage from OKX: live order book, 2 min ago; Bitget: 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 OKX live order book, 2 min ago | 2.19 bp | 13.6 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 16.04 bp | 27.0 bp −$27 | 151.8 bp −$1,518 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SMHUSDTshort | −0.0036% | 8h | 591.70 | −0.135% | $683K | $81K | 20x | |
| Binance SMHUSDT | 0.0000% | 8h | 592.22 | −0.047% | $720K | $840K | 20x | as long as short |
| Bybit SMHUSDT | 0.0000% | 8h | 591.53 | −0.164% | $300K | $480K | 25x | as long as short |
| OKX SMH-USDT-SWAPlong | 0.0000% | 8h | 592.50 | long leg | $502K | $352K | 20x | |
| Gate SMH_USDT | 0.0000% | 8h | 592.50 | 0.000% | $188K | $28K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 592.44 | −0.010% | $561K | $129K | 20x | as long as short |
| QFEX SMH-USD | 0.0000% | 1h | 591.23 | −0.214% | $1.1M | $6.3M | 10x | as long as short |
| BloFin SMH-USDT | +0.0007% | 8h | 592.63 | +0.022% | $47K | $29K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 591.28 | −0.206% | — | — | 25x | as long as short |
| HTX SMH-USDT | +0.0100% | 8h | 594.09 | +0.268% | $7K | $46K | 10x | as long as short |
Binance SMHUSDT
Bybit SMHUSDT
Gate SMH_USDT
MEXC SMH_USDT
QFEX SMH-USD
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 | +0.0410% | 1h | 591.97 | −0.089% | $3.2M | $2.0M | 20x | as long as short |
tradeXYZ xyz:SMH