Funding arb · Price arb /

S

all S markets

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 −0.057%

Price spread now: OKX against Gate+0.051%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$2122.120% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.220%−$22 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now +0.051%, 7d avg −0.003%

Together, before fees−0.081%−$8 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 0.055% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03903	0.0100	pay 0.0050% / 4h	1h 25m	$319K	$265K	50x
Short	OKX S-USDT-SWAP	0.03905	0.0100	get 0.0050% / 4h	1h 25m	$973K	$5.9M	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 +0.051%Rate

Funding earned: $0
Price spread: +0.051% → −0.003%: $5.45
Slippage, 4 orders: −$187.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$206.56
Costs to cover: 2.120%
Break-even: never at this rate

Slippage from Gate: live order book, 54 min ago; OKX: live order book, 2 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, 54 min ago	7.65 bp	76.9 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.84 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit

S on 25 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_SUSD	−0.1602%	1h	0.03902	−0.019%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−1.973%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0847%	4h	0.03915	+0.308%	$609K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0196% / S +0.0189%	1h	0.03907	+0.110%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03905	+0.051%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03908	+0.132%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03906	+0.077%	$99K	$346K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.047%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0092%	4h	0.03905	+0.061%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03910	+0.179%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03905	+0.051%	$980K	$757K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03906	+0.065%	$5.3M	$19.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03899	−0.102%	$5.6M	$5.7M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.03905	+0.051%	$973K	$5.9M	20x
Gate S_USDTlong	+0.0100%	4h	0.03903	long leg	$319K	$265K	50x
MEXC S_USDT	+0.0100%	4h	0.03906	+0.077%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03902	−0.026%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03909	+0.154%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03904	+0.026%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	+0.436%	$25K	$465K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03903	+0.008%	$219K	$881K	10x	as long as short
01 Exchange SUSD	+0.0128%	1h	0.03900	−0.077%	$24K	$2K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03918	+0.384%	$268K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0355%	1h	0.03920	+0.436%	$114K	$301K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0518%	1h	0.03910	+0.179%	$66K	$10K	10x	as long as short