S

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0035%/8h= +3.8% APRnext payment +$0.17 per $10,000 · paid last 24h +0.047%

Price spread now: OKX against Orderly−0.175%50s7-day average −0.036% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.497%+$50 on $10k

Price spread, last 4 days (all we have)+0.465%+$47 · spread now −0.175%, 7d avg −0.036%

Together, before fees+0.962%+$96 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.139% cheaper against Orderly than usual: you would sell low and buy high (spread −0.175% now, against its 7-day average of −0.036%). If the spread goes back, that is −$14 on $10k: about 13 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.497% in total) that is about 47 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_S_USDC	0.03999	0.0065	pay 0.0033% / 4h	18m 34s	$99K	$292K	10x
Short	OKX S-USDT-SWAP	0.03992	0.0100	get 0.0050% / 4h	18m 34s	$1.0M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Orderly. 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 OrderlybpFee OKXbpOrdersPrice spread, now −0.175%Rate

Funding earned: $7.25
Price spread: −0.175% → −0.036%: −$13.86
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.61
Costs to cover: 0.160%
Break-even: 28.8 days

Slippage unknown: Orderly: no order-book sample; OKX: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	1.25 bp	35.6 bp −$36	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
01 Exchange SUSD	−0.6784%	1h	0.03960	−0.975%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2558%	1h	0.03990	−0.219%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03963	−0.900%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04000	+0.013%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03997	−0.055%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04000	+0.038%	$3K	—	150x	as long as short
Variational Omni S	+0.0014%	4h	0.03993	−0.156%	$619K	$30K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.526%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDClong	+0.0065%	4h	0.03999	long leg	$99K	$292K	10x
Lighter S	+0.0096%	1h	0.03999	0.000%	$168K	$156K	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	0.03995	−0.098%	$996K	$551K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04000	+0.036%	$44K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03994	−0.119%	$5.5M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03991	−0.200%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.03992	−0.175%	$1.0M	$3.8M	20x
Gate S_USDT	+0.0100%	4h	0.03996	−0.075%	$325K	$191K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03996	−0.075%	$3.8M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03992	−0.175%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04001	+0.050%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03996	−0.075%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	−0.225%	$24K	$462K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03993	−0.158%	$229K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03999	0.000%	$278K	$96K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0500%	1h	0.04004	+0.125%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1032%	1h	0.04010	+0.275%	$117K	$415K	5x	as long as short