Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.004%

Price spread now: Coinbase International against OKX−0.129%55s7-day average −0.302% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.552% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.196%+$20 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.129%, 7d avg −0.302%

Together, before fees+0.234%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.173% dearer against OKX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.302%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BE-USDT-SWAP	270.94	0	get 0.0000% / 8h	1h 44m	$2.6M	$6.8M	25x
Short	Coinbase International BE-PERP-INTX	270.59	0.0056	get 0.0007% / 1h	44m 20s	$473K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.129%Rate

Funding earned: $11.76
Price spread: −0.129% → −0.302%: $17.27
Slippage, 4 orders: −$35.24
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$26.21
Costs to cover: 0.552%
Break-even: 22.6 days

Slippage from OKX: live order book, 4 min ago; Coinbase International: live order book, 64 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, 4 min ago	1.47 bp	12.4 bp −$12	79.2 bp −$792	doesn't fit	doesn't fit
Sell Coinbase International live order book, 64 min ago	7.53 bp	12.5 bp −$13	17.3 bp −$173	doesn't fit	doesn't fit

BE on 21 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
Gate BE_USDT	−0.0094%	8h	270.70	−0.089%	$1.4M	$3.3M	50x	as long as short
Bitget BEUSDT	−0.0070%	8h	271.04	+0.037%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	271.51	+0.209%	$342K	$123K	20x	as long as short
Extended BE-USD	0.0000%	1h	270.89	−0.019%	$46K	$257K	10x	as long as short
Binance BEUSDT	0.0000%	8h	270.95	+0.003%	$8.2M	$37.2M	25x	as long as short
OKX BE-USDT-SWAPlong	0.0000%	8h	270.94	long leg	$2.6M	$6.8M	25x
GRVT BE_USDT_Perp	0.0000%	8h	271.35	+0.150%	$7K	$157K	10x	as long as short
SunX BE-USDT	0.0000%	8h	271.02	+0.030%	$1K	$2.3M	10x	as long as short
HTX BE-USDT	0.0000%	8h	271.16	+0.081%	$12K	$35K	20x	as long as short
Lighter BE	+0.0032%	1h	270.72	−0.081%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	270.81	−0.048%	$241K	$297K	10x	as long as short
QFEX BE-USD	+0.0040%	1h	271.05	+0.041%	$1.3M	$2.4M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	271.01	+0.026%	$113K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	270.87	−0.026%	—	—	10x	as long as short
Bybit BEUSDT	+0.0053%	8h	271.04	+0.037%	$2.0M	$1.1M	25x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0056%	1h	270.59	−0.129%	$473K	$130K	10x
KuCoin BEUSDTM	+0.0100%	8h	271.01	+0.026%	$366K	$18K	20x	as long as short
tradeXYZ xyz:BE	+0.0102%	1h	270.84	−0.037%	$5.9M	$2.8M	10x	as long as short
Aevo BE-PERP	+0.0104%	1h	270.89	−0.018%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	271.04	+0.037%	$45K	$146K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0489%	1h	270.95	+0.004%	$6K	$4K	10x	as long as short