Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX−0.082%7-day average +0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1621.617% of the position

Long on OKX Short on Bybit

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+0.258%+$26 · spread now −0.082%, 7d avg +0.111%

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: Bybit is 0.193% cheaper against OKX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX STABLE-USDT-SWAP	0.02433	0.0100	pay 0.0050% / 4h	51m 40s	$211K	$399K	20x
Short	Bybit STABLEUSDT	0.02431	0.0100	get 0.0050% / 4h	51m 40s	$1.5M	$759K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → +0.111%: −$19.31
Slippage, 4 orders: −$140.68
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$181
Costs to cover: 1.617%
Break-even: never at this rate

Slippage from OKX: live order book, 52 min ago; Bybit: live order book, 3 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 OKX live order book, 52 min ago	4.11 bp	36.1 bp −$36	1658.3 bp −$16.6K	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.11 bp	48.7 bp −$49	275.4 bp −$2,754	doesn't fit	doesn't fit

STABLE on 15 exchanges

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
BloFin STABLE-USDT	+0.0044%	4h	0.02430	−0.123%	$112K	$20K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02443	+0.432%	$112K	$9K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02429	−0.160%	$852K	$133K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02431	−0.093%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02429	−0.164%	$2.5M	$2.5M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02431	−0.082%	$1.5M	$759K	25x
OKX STABLE-USDT-SWAPlong	+0.0100%	4h	0.02433	long leg	$211K	$399K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02431	−0.082%	$182K	$45K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02431	−0.082%	$601K	$147K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02437	+0.164%	$182K	$27K	30x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02431	−0.082%	$280K	$82K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02431	−0.082%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02434	+0.035%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02432	−0.058%	$2K	$1.0M	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02430	−0.133%	$13K	$213K	10x	as long as short