Funding arb · Price arb /

CP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Gate−0.139%7-day average +0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$224as in the Price arb table

costs, in and out, $10k−$1971.973% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.139%, 7d avg +0.131%

Together, before fees+0.361%+$36 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: OKX is 0.270% cheaper against Gate than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CP_USDT	0.01438	0.0100	pay 0.0050% / 4h	2h 35m	$621K	$516K	20x
Short	OKX CP-USDT-SWAP	0.01436	0.0100	get 0.0050% / 4h	2h 35m	$4.0M	$11.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now −0.139%Rate

Funding earned: $0
Price spread: −0.139% → +0.131%: −$26.99
Slippage, 4 orders: −$172.3
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$224.29
Costs to cover: 1.973%
Break-even: never at this rate

Slippage from Gate: live order book, 11 min ago; OKX: live order book, 3 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 Gate live order book, 11 min ago	10.46 bp	79.3 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	3.49 bp	23.8 bp −$24	105.0 bp −$1,050	doesn't fit	doesn't fit

CP on 8 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
BloFin CP-USDT	+0.0047%	4h	0.01433	−0.348%	$431	$42K	20x	as long as short
BingX CP-USDT	+0.0070%	4h	0.01437	−0.070%	—	$1.1M	—	as long as short
OKX CP-USDT-SWAPshort	+0.0100%	4h	0.01436	−0.139%	$4.0M	$11.8M	20x
Gate CP_USDTlong	+0.0100%	4h	0.01438	long leg	$621K	$516K	20x
MEXC CP_USDT	+0.0100%	4h	0.01436	−0.139%	$1.6M	$392K	20x	as long as short
KuCoin CPUSDTM	+0.0100%	4h	0.01438	0.000%	$203K	$891K	20x	as long as short
Bitget CPUSDT	+0.0100%	4h	0.01437	−0.097%	$816K	$1.7M	20x	as long as short
Bybit CPUSDT	+0.1749%	4h	0.01440	+0.139%	$1.6M	$3.0M	20x	as long as short