Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0154%/8h= −16.8% APRpaid last 24h −0.141%

Price spread now: Deribit against OKX+0.085%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.085% dearer against OKX than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01178	−0.0020	get 0.0010% / 4h	22m 48s	$1.3M	$2.0M	20x
Short	Deribit W_USDC-PERPETUAL	0.01179	−0.0174	pay 0.0022% / 1h	22m 48s	$17K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$32.27
Price spread: +0.085% → 0.000%: $8.49
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$40.79
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; Deribit: no order-book sample. 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 OKX live order book, 4 min ago	0.85 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

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-PERPETUALshort	−0.0174%	1h	0.01179	+0.085%	$17K	$1K	10x
OKX W-USDT-SWAPlong	−0.0020%	4h	0.01178	long leg	$1.3M	$2.0M	20x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.597%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01181	+0.221%	$2.0M	$421K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01180	+0.128%	$2.9M	$6.8M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01178	−0.034%	$4.1M	$1.9M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01178	0.000%	$445K	$291K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01180	+0.144%	$12.8M	$1.5M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01182	+0.305%	$465K	$215K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01180	+0.136%	$1.3M	$572K	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	0.01179	+0.051%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01178	−0.024%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01180	+0.151%	$130K	$363K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01180	+0.124%	$59K	$228K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0248%	1h	0.01183	+0.382%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0520%	1h	0.01181	+0.255%	$44K	$46K	15x	as long as short
Kraken Futures PF_WUSD	+0.0719%	1h	0.01183	+0.365%	$147K	$181K	20x	as long as short