Funding arb · Price arb /

STABLE

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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 Bybit−0.060%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1491.491% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days+0.024%+$2 · spread now −0.060%, 7d avg −0.113%

Together, before fees+0.141%+$14 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 0.053% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02507	0.0100	pay 0.0050% / 4h	3h 34m	$1.5M	$788K	25x
Short	OKX STABLE-USDT-SWAP	0.02505	0.0100	get 0.0050% / 4h	3h 34m	$203K	$438K	20x

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 −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.113%: $5.3
Slippage, 4 orders: −$128.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$143.85
Costs to cover: 1.491%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 36 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	5.97 bp	37.7 bp −$38	372.7 bp −$3,727	doesn't fit	doesn't fit
Sell OKX live order book, 36 min ago	7.93 bp	34.3 bp −$34	1565.7 bp −$15.7K	doesn't fit	doesn't fit

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02518	+0.479%	$116K	$8K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02510	+0.136%	$885K	$212K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02509	+0.093%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02507	+0.013%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02507	long leg	$1.5M	$788K	25x
OKX STABLE-USDT-SWAPshort	+0.0100%	4h	0.02505	−0.060%	$203K	$438K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02505	−0.060%	$174K	$71K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02506	−0.020%	$622K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02516	+0.379%	$180K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02507	+0.020%	$293K	$118K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02505	−0.060%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02510	+0.144%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02509	+0.104%	$1K	$774K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02506	−0.008%	$12K	$177K	10x	as long as short
BloFin STABLE-USDT	+0.0105%	4h	0.02511	+0.180%	$117K	$8K	75x	as long as short