Funding arb · Price arb /

INIT

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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: OKX against Bybit+0.085%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1681.685% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now +0.085%, 7d avg +0.130%

Together, before fees+0.156%+$16 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 0.045% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit INITUSDT	0.08216	0.0100	pay 0.0050% / 4h	48m 47s	$1.4M	$1.4M	25x
Short	OKX INIT-USDT-SWAP	0.08223	0.0100	get 0.0050% / 4h	48m 47s	$134K	$635K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.130%: −$4.47
Slippage, 4 orders: −$147.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$172.93
Costs to cover: 1.685%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 27 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 Bybit live order book, 2 min ago	6.09 bp	36.3 bp −$36	91.8 bp −$918	doesn't fit	doesn't fit
Sell OKX live order book, 27 min ago	4.90 bp	41.6 bp −$42	doesn't fit	doesn't fit	doesn't fit

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08219	+0.041%	$299K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08214	−0.022%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08225	+0.104%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDTlong	+0.0100%	4h	0.08216	long leg	$1.4M	$1.4M	25x
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08223	+0.085%	$134K	$635K	10x
Gate INIT_USDT	+0.0100%	8h	0.08195	−0.256%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08225	+0.110%	$447K	$218K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08213	−0.037%	$327K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08216	0.000%	$429K	$310K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08208	−0.097%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08205	−0.134%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0152%	4h	0.08222	+0.073%	$152K	$111K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0496%	1h	0.08217	+0.009%	$5K	$17K	10x	as long as short