Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: OKX against Bybit+0.020%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days−0.050%−$5 · spread now +0.020%, 7d avg −0.006%

Together, before fees−0.097%−$10 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: OKX is 0.026% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit COINUSDT	195.88	0	get 0.0000% / 8h	33m 57s	$4.7M	$6.2M	50x
Short	OKX COIN-USDT-SWAP	195.92	0	get 0.0000% / 8h	33m 57s	$3.0M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.006%: $2.63
Slippage, 4 orders: −$26.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$44.75
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; OKX: live order book, 4 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 Bybit live order book, 4 min ago	2.55 bp	10.4 bp −$10	33.5 bp −$335	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.28 bp	13.0 bp −$13	22.1 bp −$221	doesn't fit	doesn't fit

COIN on 26 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
Injective COIN/USDC PERP	−0.0440%	1h	196.04	+0.082%	$43K	$48K	30x	as long as short
Bitget COINUSDT	−0.0348%	8h	196.08	+0.102%	$6.4M	$10.6M	20x	as long as short
Vest COIN-USD-PERP	−0.0047%	1h	195.55	−0.168%	—	$326K	25x	as long as short
Aster COINUSDT	0.0000%	8h	195.78	−0.052%	$342K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	195.85	−0.016%	$106K	$861K	10x	as long as short
Binance COINUSDT	0.0000%	8h	195.92	+0.018%	$15.0M	$82.2M	20x	as long as short
Bybit COINUSDTlong	0.0000%	8h	195.88	long leg	$4.7M	$6.2M	50x
OKX COIN-USDT-SWAPshort	0.0000%	8h	195.92	+0.020%	$3.0M	$4.7M	20x
Gate COIN_USDT	0.0000%	8h	195.96	+0.041%	$1.2M	$7.3M	50x	as long as short
Variational Omni COIN	0.0000%	8h	195.93	+0.024%	$712K	$974K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.29	+0.211%	$22K	$2.8M	10x	as long as short
Lighter COIN	+0.0032%	1h	195.86	−0.012%	$362K	$2.3M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	195.84	−0.020%	$463K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.19	+0.158%	$17K	$58K	5x	as long as short
edgeX COINUSDC	+0.0050%	4h	196.08	+0.100%	$50K	$295K	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	195.75	−0.066%	$15.1M	$13.0M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.84	−0.020%	$134K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	195.88	0.000%	$100	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.74	−0.071%	$445K	$2.8M	10x	as long as short
QFEX COIN-USD	+0.0065%	1h	195.93	+0.026%	$1.3M	$2.9M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.74	−0.071%	$987K	$137K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.72	−0.082%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	195.94	+0.031%	$567	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	195.96	+0.039%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	195.89	+0.005%	$187K	$436K	20x	as long as short
Phoenix COIN	+0.0163%	1h	195.87	−0.005%	$4K	$283K	10x	as long as short