Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX−0.233%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1071.065% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.247%+$25 · spread now −0.233%, 7d avg −0.071%

Together, before fees+0.242%+$24 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 0.163% cheaper against BingX than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LAYER-USDT	0.07722	0.0100	pay 0.0050% / 4h	3h 12m	—	$1.6M	—
Short	OKX LAYER-USDT-SWAP	0.07704	0.0100	get 0.0050% / 4h	3h 12m	$715K	$698K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now −0.233%Rate

Funding earned: $0
Price spread: −0.233% → −0.071%: −$16.26
Slippage, 4 orders: −$86.5
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$122.76
Costs to cover: 1.065%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; OKX: live order book, 58 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 BingX live order book, 4 min ago	6.50 bp	26.3 bp −$26	125.6 bp −$1,256	590.5 bp −$59.1K	771.4 bp −$385.7K
Sell OKX live order book, 58 min ago	3.25 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0782%	1h	0.07720	−0.032%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.802%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07734	+0.158%	$601K	$169K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07713	−0.117%	$10K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07716	−0.078%	$2.1M	$2.5M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07704	−0.233%	$715K	$698K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07702	−0.259%	$137K	$53K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07715	−0.091%	$345K	$118K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07718	−0.052%	$1.1M	$167K	50x	as long as short
BingX LAYER-USDTlong	+0.0100%	4h	0.07722	long leg	—	$1.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07720	−0.026%	$26K	$183K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07712	−0.126%	$471	$174K	5x	as long as short
BloFin LAYER-USDT	+0.0106%	4h	0.07707	−0.194%	$114K	$14K	50x	as long as short