Binance vs OKX Funding Arbitrage
121 shared markets · net of estimated fees · updated every few minutesBinance and OKX both quote 121 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is DOOD — long OKX / short Binance at 293.2% net APR — but the median across all shared markets is 11.0%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 60 markets go long on Binance and 61 on OKX. 81 markets clear 5% net APR, 63 clear 10%.
How this pair behaves
Binance pays funding every 4h on 234 markets and every 8h on 85 markets; OKX pays every 8h on 204 markets and every 4h on 136 markets. The two clocks differ, so one leg settles while the other is still accruing: a position held for only a few hours can pay one side without ever collecting from the other. Binance quotes 320 perpetual markets in total and OKX quotes 341; the 121 they share are what this page ranks. Across its own book Binance runs a median funding rate of 8.3% and OKX 0.0% — the two sit on opposite sides of zero, which is why this combination throws up spreads at all.
Spreads by market
top 25 of 121 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| DOOD | OKX | Binance | 293.2% | 297.1% | +25.5% | $309.4M |
| ZIL | OKX | Binance | 131.3% | 134.7% | +46.9% | $973K |
| IOST | OKX | Binance | 129.1% | 132.3% | -0.9% | $65.4M |
| MEW | OKX | Binance | 98.0% | 101.5% | +6.4% | $17.2M |
| RSR | OKX | Binance | 62.2% | 65.8% | +8.1% | $2.4M |
| GMT | OKX | Binance | 60.5% | 63.4% | +8.6% | $313K |
| MOODENG | Binance | OKX | 58.1% | 61.6% | -1.7% | $5.8M |
| BICO | OKX | Binance | 51.5% | 55.2% | +3.8% | $1.7M |
| BERA | OKX | Binance | 47.5% | 51.3% | -1.6% | $2.6M |
| UB | Binance | OKX | 45.4% | 48.0% | -1.8% | $3.4M |
| TRUTH | Binance | OKX | 45.2% | 48.5% | -13.4% | $4.0M |
| KMNO | OKX | Binance | 44.8% | 48.0% | -4.6% | $1.2M |
| LA | Binance | OKX | 44.6% | 47.8% | +8.8% | $929K |
| KAT | Binance | OKX | 36.9% | 40.1% | -1.3% | $957K |
| BOME | OKX | Binance | 35.6% | 38.5% | +22.5% | $2.9M |
| BLUR | Binance | OKX | 33.0% | 37.9% | -22.9% | $2.3M |
| NEIRO | OKX | Binance | 31.1% | 33.9% | +5.6% | $697K |
| A | OKX | Binance | 30.2% | 33.1% | +3.5% | $4.1M |
| ALLO | OKX | Binance | 29.0% | 31.5% | +4.9% | $3.3M |
| ESP | OKX | Binance | 29.0% | 31.6% | +20.3% | $746K |
| EGLD | OKX | Binance | 28.9% | 31.9% | -3.6% | $326K |
| ZRX | OKX | Binance | 28.4% | 32.8% | +12.3% | $167K |
| MOVE | Binance | OKX | 28.2% | 31.3% | +7.2% | $355K |
| STRK | OKX | Binance | 27.7% | 30.5% | +7.8% | $85.5M |
| RECALL | Binance | OKX | 26.4% | 30.4% | +2.5% | $154K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Binance vs OKX — FAQ
How many markets can you arbitrage between Binance and OKX?
121 perpetual markets are quoted on both Binance and OKX right now. 81 of them show a net spread of at least 5% APR after estimated fees, and 86 have at least $1M of 24h volume on the smaller leg.
What is the best Binance / OKX funding spread right now?
DOOD: long OKX and short Binance for about 293.2% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 121 shared markets is 11.0%, so the top of the list is not typical.
Which side pays on the Binance / OKX pair?
It varies by market: Binance is the long (funding-receiving) leg in 60 of the shared markets and OKX in the other 61. The direction is set per market by which venue currently prices funding lower.
Trading the Binance / OKX spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: Binance funding rates · OKX funding rates; the full calculation is in the methodology.