GPRO: OKX → Bybit

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

-219%

APR right now

Price gap

+0.578%

between legs

Average spread

-18%

over 24h from our own samples

Over 7 days

-18%

samples: 120

OKXLONG

Bid / ask1.295 / 1.297

Mark price1.297

Volume 24h$690.68K

Open interest$539.24K

Rate+0.1997%

APR+219%

Interval / next payout8h / 5h 20m

OKX

BybitSHORT

Bid / ask1.3045 / 1.3058

Mark price1.3049

Volume 24h$289.44K

Open interest$358.77K

Rate+0.0000%

APR+0%

Interval / next payout8h / 5h 20m

Bybit

Spread from our samples

spread over the period: from -262% to 63% APR, 120 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.