Funding arb · Price arb /

S

all S markets

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 −0.038%

Price spread now: OKX against Binance−0.074%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1181.178% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.074%, 7d avg −0.027%

Together, before fees−0.061%−$6 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 0.047% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SUSDT	0.04056	0.0100	pay 0.0050% / 4h	1h 57m	$5.6M	$14.1M	75x
Short	OKX S-USDT-SWAP	0.04053	0.0100	get 0.0050% / 4h	1h 57m	$1.0M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → −0.027%: −$4.67
Slippage, 4 orders: −$97.75
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$122.42
Costs to cover: 1.178%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; OKX: live order book, 5 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 Binance live order book, 13 min ago	1.23 bp	21.9 bp −$22	74.0 bp −$740	2443.4 bp −$244.3K	doesn't fit
Sell OKX live order book, 5 min ago	4.91 bp	35.3 bp −$35	doesn't fit	doesn't fit	doesn't fit

S on 24 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
01 Exchange SUSD	−0.7824%	1h	0.03940	−2.860%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1696%	1h	0.04051	−0.131%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−0.838%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0350%	4h	0.04052	−0.091%	$630K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04053	−0.069%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04047	−0.213%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04053	−0.066%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.085%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0054%	4h	0.04057	+0.025%	$101K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04058	+0.049%	$168K	$155K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04056	+0.007%	$1.0M	$564K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04057	+0.025%	$44K	$134K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.04056	long leg	$5.6M	$14.1M	75x
Bybit SUSDT	+0.0100%	4h	0.04051	−0.123%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.04053	−0.074%	$1.0M	$4.0M	20x
Gate S_USDT	+0.0100%	4h	0.04050	−0.148%	$333K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04056	0.000%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04050	−0.148%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04056	0.000%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04053	−0.074%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04060	+0.099%	$24K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04052	−0.091%	$228K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0736%	1h	0.04062	+0.148%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1499%	1h	0.04070	+0.345%	$118K	$350K	5x	as long as short