Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX+0.029%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1521.517% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.029%, 7d avg −0.065%

Together, before fees−0.096%−$10 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: Bybit is 0.094% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BASED-USDT-SWAP	0.06840	0.0100	pay 0.0050% / 4h	55m 18s	$2.6M	$3.5M	20x
Short	Bybit BASEDUSDT	0.06842	0.0100	get 0.0050% / 4h	55m 18s	$2.1M	$580K	25x

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 +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.065%: $9.43
Slippage, 4 orders: −$130.71
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$142.28
Costs to cover: 1.517%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bybit: live order book, 1 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	0.73 bp	17.8 bp −$18	96.9 bp −$969	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	4.39 bp	52.2 bp −$52	935.0 bp −$9,350	doesn't fit	doesn't fit

BASED on 15 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 BASEDUSDT	+0.0100%	4h	0.06849	+0.130%	$4.2M	$3.0M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06842	+0.029%	$2.1M	$580K	25x
OKX BASED-USDT-SWAPlong	+0.0100%	4h	0.06840	long leg	$2.6M	$3.5M	20x
Gate BASED_USDT	+0.0100%	4h	0.06847	+0.102%	$544K	$529K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06847	+0.102%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06840	0.000%	$573K	$100K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06851	+0.161%	$1.3M	$371K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06846	+0.088%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06832	−0.116%	$93K	$22K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06841	+0.008%	$90K	$363K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06843	+0.044%	$1K	$816K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06846	+0.090%	$5K	$226K	5x	as long as short
BloFin BASED-USDT	+0.0152%	4h	0.06849	+0.132%	$253K	$38K	25x	as long as short
Aster BASEDUSDT	+0.0297%	4h	0.06843	+0.038%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0345%	4h	0.06849	+0.132%	$3K	$652	10x	as long as short