Funding you earn now, next payment 00:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.029%
Price spread now: Bybit against OKX−0.134%7-day average +0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$208as in the Funding arb table
Net, price: spread back to 7d avg − costs−$192as in the Price arb table
costs, in and out, $10k−$1731.728% of the position
Funding, last 7 days−0.349%−$35 on $10k
+Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.134%, 7d avg +0.055%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.189% cheaper against OKX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.055%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX ZRX-USDT-SWAP | 0.1194 | 0.0100 | pay 0.0050% / 4h | 21m 30s | $529K | $265K | 20x |
| Short | Bybit ZRXUSDT | 0.1192 | 0.0006 | get 0.0006% / 8h | 21m 30s | $1.4M | $341K | 25x |
OKX ZRX-USDT-SWAP
Bybit ZRXUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$19.72
- Price spread: −0.134% → +0.055%
- −$18.95
- Slippage, 4 orders
- −$151.76
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$211.43
- Costs to cover
- 1.728%
- Break-even
- never at this rate
Slippage from OKX: live order book, 54 min ago; Bybit: live order book, 5 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, 54 min ago | 5.03 bp | 38.9 bp −$39 | 5439.7 bp −$54.4K | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 3.36 bp | 46.8 bp −$47 | 187.5 bp −$1,875 | doesn't fit | doesn't fit |
ZRX on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZRXUSDTM | −0.0242% | 4h | 0.1191 | −0.218% | $326K | $60K | 30x | as long as short |
| Bybit ZRXUSDTshort | +0.0006% | 8h | 0.1192 | −0.134% | $1.4M | $341K | 25x | |
| Binance ZRXUSDT | +0.0100% | 4h | 0.1192 | −0.150% | $1.8M | $1.2M | 50x | as long as short |
| OKX ZRX-USDT-SWAPlong | +0.0100% | 4h | 0.1194 | long leg | $529K | $265K | 20x | |
| Gate ZRX_USDT | +0.0100% | 8h | 0.1194 | +0.025% | $145K | $41K | 75x | as long as short |
| MEXC ZRX_USDT | +0.0100% | 4h | 0.1192 | −0.134% | $893K | $160K | 50x | as long as short |
| Bitget ZRXUSDT | +0.0100% | 4h | 0.1193 | −0.050% | $579K | $120K | 50x | as long as short |
| BingX ZRX-USDT | +0.0100% | 4h | 0.1191 | −0.218% | — | $2.3M | — | as long as short |
| Variational Omni ZRX | +0.0100% | 8h | 0.1194 | +0.022% | $23K | $41K | — | as long as short |
| BloFin ZRX-USDT | +0.0138% | 4h | 0.1190 | −0.302% | $95K | $19K | 50x | as long as short |
KuCoin ZRXUSDTM
Binance ZRXUSDT
Gate ZRX_USDT
MEXC ZRX_USDT
Bitget ZRXUSDT
BingX ZRX-USDT
Variational Omni ZRX
BloFin ZRX-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ZRXUSD | +0.1204% | 1h | 0.1195 | +0.116% | $39K | $4K | 10x | as long as short |
Kraken Futures PF_ZRXUSD