Funding arb · Price arb /

W

all W markets

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 +0.032%

Price spread now: Bitget against OKX+0.017%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1351.347% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.017%, 7d avg −0.011%

Together, before fees−0.018%−$2 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: Bitget is 0.028% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01184	0.0100	pay 0.0050% / 4h	43m 39s	$1.3M	$1.9M	20x
Short	Bitget WUSDT	0.01184	0.0100	get 0.0050% / 4h	43m 39s	$1.3M	$582K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → −0.011%: $2.82
Slippage, 4 orders: −$112.67
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$131.85
Costs to cover: 1.347%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bitget: 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, 3 min ago	2.97 bp	29.3 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.24 bp	25.0 bp −$25	130.0 bp −$1,300	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	0.01184	+0.042%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.129%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01185	+0.101%	$2.0M	$345K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01185	+0.068%	$2.9M	$6.5M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01182	−0.152%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAPlong	+0.0100%	4h	0.01184	long leg	$1.3M	$1.9M	20x
Gate W_USDT	+0.0100%	4h	0.01179	−0.380%	$446K	$229K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01184	+0.042%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01183	−0.068%	$381K	$212K	50x	as long as short
Bitget WUSDTshort	+0.0100%	4h	0.01184	+0.017%	$1.3M	$582K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01182	−0.161%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01179	−0.411%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01178	−0.456%	$128K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01184	+0.041%	$59K	$231K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01183	−0.084%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.0457%	1h	0.01187	+0.237%	$44K	$44K	15x	as long as short
Kraken Futures PF_WUSD	+0.1684%	1h	0.01187	+0.263%	$147K	$183K	20x	as long as short