Funding arb · Price arb /

ARX

all ARX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0329%/8hnext payment −$1.64 per $10,000 · paid last 24h +0.094%

Price spread now: Bybit against OKX+0.099%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$394as in the Funding arb table

Net, price: spread back to 7d avg − costs−$400as in the Price arb table

costs, in and out, $10k−$4044.043% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.099%, 7d avg +0.054%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.046% dearer against OKX than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.054%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +0.105%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.105% in total (about 5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.64 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ARX-USDT-SWAP	0.2014	0.0614	pay 0.0307% / 4h	6m 30s	$717K	$2.8M	20x
Short	Bybit ARXUSDT	0.2016	0.0286	get 0.0143% / 4h	6m 30s	$4.0M	$2.3M	20x

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 +0.099%Rate

Funding earned: −$69.01
Price spread: +0.099% → +0.054%: $4.57
Slippage, 4 orders: −$383.33
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$468.76
Costs to cover: 4.043%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bybit: live order book, just now.

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, 5 min ago	4.98 bp	45.0 bp −$45	3870.0 bp −$38.7K	doesn't fit	doesn't fit
Sell Bybit live order book, just now	7.44 bp	153.9 bp −$154	774.3 bp −$7,743	doesn't fit	doesn't fit

ARX on 10 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
Gate ARX_USDT	+0.0100%	4h	0.2021	+0.348%	$1.0M	$437K	20x	as long as short
Bitget ARXUSDT	+0.0100%	4h	0.2017	+0.169%	$1.9M	$1.7M	20x	as long as short
Bybit ARXUSDTshort	+0.0286%	4h	0.2016	+0.099%	$4.0M	$2.3M	20x
MEXC ARX_USDT	+0.0428%	4h	0.2013	−0.050%	$887K	$385K	20x	as long as short
Binance ARXUSDT	+0.0453%	4h	0.2015	+0.050%	$5.5M	$10.9M	20x	as long as short
BingX ARX-USDT	+0.0548%	4h	0.2016	+0.099%	—	$1.6M	—	as long as short
KuCoin ARXUSDTM	+0.0594%	4h	0.2014	−0.005%	$753K	$645K	20x	as long as short
BloFin ARX-USDT	+0.0613%	4h	0.2015	+0.050%	$241K	$51K	20x	as long as short
OKX ARX-USDT-SWAPlong	+0.0614%	4h	0.2014	long leg	$717K	$2.8M	20x
Aster ARXUSDT	+0.0842%	4h	0.2007	−0.360%	$101K	$72K	10x	as long as short