Funding arb · Price arb /

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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 −0.019%

Price spread now: OKX against Gate+0.323%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$425as in the Funding arb table

Net, price: spread back to 7d avg − costs−$392as in the Price arb table

costs, in and out, $10k−$4204.198% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.323%, 7d avg +0.045%

Together, before fees−0.004%$0 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 0.278% dearer against Gate than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01176	0.0100	pay 0.0050% / 4h	3h 47m	$429K	$217K	75x
Short	OKX W-USDT-SWAP	0.01180	0.0100	get 0.0050% / 4h	3h 47m	$1.3M	$1.5M	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 +0.323%Rate

Funding earned: $0
Price spread: +0.323% → +0.045%: $27.82
Slippage, 4 orders: −$394.81
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$391.99
Costs to cover: 4.198%
Break-even: never at this rate

Slippage from Gate: live order book, 48 min ago; OKX: live order book, 4 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, 48 min ago	9.39 bp	185.6 bp −$186	5397.2 bp −$54.0K	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.54 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	0.0000%	1h	0.01180	+0.357%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.789%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01182	+0.493%	$2.0M	$271K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01181	+0.418%	$3.0M	$5.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01179	+0.213%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAPshort	+0.0100%	4h	0.01180	+0.323%	$1.3M	$1.5M	20x
Gate W_USDTlong	+0.0100%	4h	0.01176	long leg	$429K	$217K	75x
MEXC W_USDT	+0.0100%	4h	0.01181	+0.417%	$12.4M	$1.3M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01179	+0.238%	$388K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01181	+0.408%	$1.3M	$539K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01181	+0.383%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01177	+0.107%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01178	+0.153%	$126K	$374K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01181	+0.390%	$59K	$388K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0384%	1h	0.01183	+0.536%	$13K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.0659%	1h	0.01181	+0.442%	$46K	$52K	15x	as long as short
Kraken Futures PF_WUSD	+0.0895%	1h	0.01182	+0.504%	$147K	$49K	20x	as long as short