Funding arb · Price arb /

COST

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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 −0.002%

Price spread now: Bybit against OKX−0.021%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$680.682% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.021%, 7d avg −0.049%

Together, before fees−0.025%−$2 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: Bybit is 0.028% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COST-USDT-SWAP	903.18	0	get 0.0000% / 8h	2h 10m	$443K	$123K	10x
Short	Bybit COSTUSDT	902.99	0	get 0.0000% / 8h	2h 10m	$491K	$221K	25x

Funding 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 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 BybitbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.049%: $2.79
Slippage, 4 orders: −$47.15
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$65.36
Costs to cover: 0.682%
Break-even: never at this rate

Slippage from OKX: live order book, 35 min ago; Bybit: live order book, 29 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, 35 min ago	2.27 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 29 min ago	9.53 bp	21.3 bp −$21	186.6 bp −$1,866	doesn't fit	doesn't fit

COST on 15 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
Aster COSTUSDT	0.0000%	8h	902.96	−0.024%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	902.96	−0.024%	$1.1M	$1.0M	20x	as long as short
Bybit COSTUSDTshort	0.0000%	8h	902.99	−0.021%	$491K	$221K	25x
OKX COST-USDT-SWAPlong	0.0000%	8h	903.18	long leg	$443K	$123K	10x
Gate COST_USDT	0.0000%	8h	902.79	−0.043%	$523K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	903.15	−0.003%	$403K	$78K	25x	as long as short
Variational Omni COST	0.0000%	8h	902.78	−0.045%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	901.80	−0.153%	$1K	$2.9M	10x	as long as short
HTX COST-USDT	0.0000%	8h	904.61	+0.158%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0003%	1h	902.81	−0.041%	$1.1M	$2.5M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−1.240%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.546%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	902.83	−0.039%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	902.88	−0.033%	$1.8M	$517K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	901.80	−0.153%	$47K	$899K	20x	as long as short