Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0936%/8h= +102.5% APRpaid last 24h −0.009%

Price spread now: OKX against tradeXYZ+0.135%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$240as in the Funding arb table

Net, price: spread back to 7d avg − costs−$231as in the Price arb table

costs, in and out, $10k−$2362.356% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.135%, 7d avg +0.090%

Together, before fees−0.127%+ Points / potential airdroptradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and OKX is 0.045% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.090%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.040% in total (about -2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BX	126.23	−0.0844	get 0.0106% / 1h	14m 33s	$664K	$210K	10x
Short	OKX BX-USDT-SWAP	126.40	0.0092	get 0.0092% / 8h	6h 14m	$164K	$114K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.135%Rate

Funding earned: $196.55
Price spread: +0.135% → +0.090%: $4.46
Slippage, 4 orders: −$207.57
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.56
Costs to cover: 2.356%
Break-even: 8.2 days

Slippage from tradeXYZ: live order book, 32 min ago; OKX: live order book, 50 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 tradeXYZ live order book, 32 min ago	2.77 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 50 min ago	5.14 bp	90.2 bp −$90	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXlong	−0.0844%	1h	126.23	long leg	$664K	$210K	10x
Aster BXUSDT	0.0000%	8h	126.26	+0.022%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.27	+0.032%	$485K	$866K	25x	as long as short
QFEX BX-USD	0.0000%	1h	127.03	+0.634%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.33	+0.079%	$423K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.38	+0.119%	$898K	$36K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.27	+0.032%	$308	$317K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.37	+0.111%	$7K	$3K	20x	as long as short
OKX BX-USDT-SWAPshort	+0.0092%	8h	126.40	+0.135%	$164K	$114K	20x
GRVT BX_USDT_Perp	+0.0192%	8h	126.31	+0.063%	$988	$117K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BX/USDC PERP	+0.0220%	1h	138.75	+9.918%	$4K	$32K	12x	as long as short
KuCoin BXUSDTM	+0.0743%	8h	126.05	−0.143%	$114K	$1.0M	20x	as long as short
Variational Omni BX	+0.1029%	8h	126.25	+0.018%	$36K	$5K	—	as long as short
Binance BXUSDT	+0.1355%	8h	126.32	+0.071%	$786K	$482K	20x	as long as short