Funding you earn now, next payment 08:00 UTC−0.0201%/8h= −22.0% APRnext payment −$2.01 per $10,000 · paid last 24h 0.000%
Price spread now: OKX against Binance+0.013%7-day average −0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$660.656% of the position
Funding, last 7 days−0.025%−$2 on $10k
+Price spread, last 4 days (all we have)−0.680%−$68 · spread now +0.013%, 7d avg −0.043%
=The price spread pays, funding is against you. OKX is 0.056% dearer against Binance than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.043%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.025% in total) that is about 16 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.01 per $10,000. 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 | Binance NOWUSDT | 138.02 | 0.0201 | pay 0.0201% / 8h | 5h 02m | $1.8M | $1.4M | 20x |
| Short | OKX NOW-USDT-SWAP | 138.04 | 0 | get 0.0000% / 8h | 5h 02m | $492K | $232K | 20x |
Binance NOWUSDT
OKX NOW-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. 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
- −$42.24
- Price spread: +0.013% → −0.043%
- $5.58
- Slippage, 4 orders
- −$45.57
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$102.23
- Costs to cover
- 0.656%
- Break-even
- never at this rate
Slippage from Binance: live order book, 16 min ago; OKX: live order book, 58 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 Binance live order book, 16 min ago | 2.17 bp | 14.1 bp −$14 | 51.6 bp −$516 | doesn't fit | doesn't fit |
| Sell OKX live order book, 58 min ago | 9.43 bp | 17.6 bp −$18 | 1144.3 bp −$11.4K | doesn't fit | doesn't fit |
NOW on 16 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 NOWUSDT | 0.0000% | 8h | 138.66 | +0.459% | $41K | $995 | 20x | as long as short |
| OKX NOW-USDT-SWAPshort | 0.0000% | 8h | 138.04 | +0.013% | $492K | $232K | 20x | |
| QFEX NOW-USD | 0.0000% | 1h | 137.87 | −0.110% | $1.1M | $1.8M | 10x | as long as short |
| Gate NOW_USDT | 0.0000% | 8h | 137.97 | −0.038% | $248K | $372K | 20x | as long as short |
| Bitget NOWUSDT | 0.0000% | 8h | 137.96 | −0.045% | $781K | $234K | 20x | as long as short |
| SunX NOW-USDT | 0.0000% | 8h | 137.92 | −0.074% | $552 | $386K | 10x | as long as short |
| HTX NOW-USDT | 0.0000% | 8h | 138.13 | +0.078% | $5K | $31K | 20x | as long as short |
| Lighter NOW | +0.0032% | 1h | 137.86 | −0.118% | $5K | $178 | 5x | as long as short |
| Injective NOW/USDC PERP | +0.0033% | 1h | 139.80 | +1.288% | $3K | $101 | 12x | as long as short |
| Vest NOW-USD-PERP | +0.0046% | 1h | 137.88 | −0.103% | — | — | 25x | as long as short |
Aster NOWUSDT
QFEX NOW-USD
Gate NOW_USDT
Bitget NOWUSDT
SunX NOW-USDT
HTX NOW-USDT
Lighter NOW
Injective NOW/USDC PERP
Vest NOW-USD-PERPShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin NOWUSDTM | +0.0100% | 8h | 137.78 | −0.176% | $318K | $629K | 20x | as long as short |
| Bybit NOWUSDT | +0.0164% | 8h | 137.94 | −0.060% | $1.6M | $4.8M | 25x | as long as short |
| BloFin NOW-USDT | +0.0188% | 8h | 137.98 | −0.031% | $229 | $17K | 20x | as long as short |
| Binance NOWUSDTlong | +0.0201% | 8h | 138.02 | long leg | $1.8M | $1.4M | 20x | |
| tradeXYZ xyz:NOW | +0.0338% | 1h | 137.87 | −0.110% | $2.1M | $229K | 10x | as long as short |
| GRVT NOW_USDT_Perp | +0.0514% | 8h | 137.98 | −0.034% | $717 | $150K | 10x | as long as short |
KuCoin NOWUSDTM
Bybit NOWUSDT
BloFin NOW-USDT
tradeXYZ xyz:NOW
GRVT NOW_USDT_Perp