Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.039%

Price spread now: OKX against Coinbase International−0.721%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$620.619% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.289%+$29 on $10k

Price spread, last 3 days (all we have)+0.760%+$76 · spread now −0.721%, 7d avg −0.011%

Together, before fees+1.049%+$105 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.710% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.721% now, against its 7-day average of −0.011%). If the spread goes back, that is −$71 on $10k: about 12 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ALGO-PERP-INTX	0.1123	−0.0104	get 0.0013% / 1h	51m 01s	$67K	$301K	50x
Short	OKX ALGO-USDT-SWAP	0.1115	0.0100	get 0.0100% / 8h	7h 51m	$3.0M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now −0.721%Rate

Funding earned: $42.84
Price spread: −0.721% → −0.011%: −$70.99
Slippage, 4 orders: −$41.86
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$90.02
Costs to cover: 0.619%
Break-even: 21.7 days

Slippage from Coinbase International: live order book, 22 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 Coinbase International live order book, 22 min ago	8.46 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.89 bp	17.6 bp −$18	61.2 bp −$612	doesn't fit	doesn't fit

ALGO on 22 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
Deribit ALGO_USDC-PERPETUAL	−0.0644%	1h	0.1117	−0.543%	$101K	$50K	25x	as long as short
Kraken Futures PF_ALGOUSD	−0.0567%	1h	0.1117	−0.509%	$832K	$1.1M	50x	as long as short
Bybit ALGOUSDT	−0.0138%	8h	0.1115	−0.748%	$11.2M	$12.0M	75x	as long as short
Variational Omni ALGO	−0.0137%	8h	0.1116	−0.634%	$62K	$12K	—	as long as short
Coinbase International ALGO-PERP-INTXlong	−0.0104%	1h	0.1123	long leg	$67K	$301K	50x
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1118	−0.446%	$6K	—	150x	as long as short
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	−0.285%	$834	$233K	12x	as long as short
Binance ALGOUSDT	+0.0093%	8h	0.1115	−0.706%	$9.9M	$34.5M	75x	as long as short
Extended ALGO-USD	+0.0096%	1h	0.1117	−0.580%	$6K	$224K	10x	as long as short
MEXC ALGO_USDT	+0.0098%	8h	0.1116	−0.623%	$22.9M	$2.9M	200x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ALGO	+0.0100%	1h	0.1117	−0.534%	$3.7M	$1.8M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1118	−0.443%	$44K	$38K	5x	as long as short
OKX ALGO-USDT-SWAPshort	+0.0100%	8h	0.1115	−0.721%	$3.0M	$7.5M	50x
Gate ALGO_USDT	+0.0100%	8h	0.1118	−0.454%	$878K	$810K	50x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1116	−0.623%	$3.6M	$1.4M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1116	−0.641%	$5.6M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1116	−0.623%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1117	−0.561%	$66K	$108K	75x	as long as short
Phemex ALGOUSDT	+0.0189%	8h	0.1119	−0.374%	$3.8M	$1.8M	50x	as long as short
BloFin ALGO-USDT	+0.0213%	8h	0.1121	−0.187%	$492K	$792K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0339% / S −0.0345%	1h	0.1118	−0.440%	$7K	—	100x	as long as short
dYdX ALGO-USD	+0.1175%	1h	0.1118	−0.433%	$160K	$3K	5x	as long as short