OKX vs trade.xyz Funding Arbitrage
71 shared markets · net of estimated fees · updated every few minutesOKX and trade.xyz both quote 71 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 SOXL — long trade.xyz / short OKX at 162.2% net APR — but the median across all shared markets is 17.7%, 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 26 markets go long on OKX and 45 on trade.xyz. 52 markets clear 5% net APR, 47 clear 10%.
How this pair behaves
OKX pays funding every 8h on 204 markets and every 4h on 136 markets; trade.xyz pays every 1h on 92 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. OKX quotes 341 perpetual markets in total and trade.xyz quotes 92; the 71 they share are what this page ranks. Across its own book OKX runs a median funding rate of 0.0% and trade.xyz 1.9% — the two sit on opposite sides of zero, which is why this combination throws up spreads at all.
Spreads by market
top 25 of 71 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| KSTR | trade.xyz | OKX | 216.1% | 234.1% | +12.5% | $60K |
| SHAZ | trade.xyz | OKX | 206.7% | 225.8% | -21.1% | $276K |
| SHEIN | trade.xyz | OKX | 169.9% | 182.4% | +4.9% | $89K |
| SOXL | trade.xyz | OKX | 162.2% | 165.5% | +3.4% | $147.9M |
| RDDT | trade.xyz | OKX | 134.5% | 149.6% | +34.1% | $54K |
| TWST | trade.xyz | OKX | 126.0% | 190.7% | -9.1% | $489K |
| KR200 | OKX | trade.xyz | 105.3% | 116.8% | +7.2% | $67K |
| EWT | trade.xyz | OKX | 99.8% | 108.5% | +6.0% | $130K |
| UNITREE | trade.xyz | OKX | 77.1% | 81.1% | -55.2% | $22.9M |
| BB | trade.xyz | OKX | 75.1% | 82.6% | — | $2.5M |
| MRVL | trade.xyz | OKX | 64.7% | 68.3% | -4.5% | $19.2M |
| ORCL | trade.xyz | OKX | 63.8% | 67.6% | +1.5% | $4.7M |
| HYUNDAI | OKX | trade.xyz | 61.6% | 68.4% | -6.9% | $294K |
| XPD | trade.xyz | OKX | 60.9% | 65.3% | +5.1% | $742K |
| ZM | trade.xyz | OKX | 59.9% | 70.4% | +1.0% | $60K |
| SKHY | OKX | trade.xyz | 59.9% | 63.6% | -5.0% | $103.8M |
| XBI | OKX | trade.xyz | 59.2% | 74.3% | +12.6% | $24K |
| ZHIPU | trade.xyz | OKX | 59.1% | 63.8% | -5.6% | $11.3M |
| LRCX | trade.xyz | OKX | 51.9% | 64.4% | -32.2% | $143K |
| GLW | trade.xyz | OKX | 48.1% | 59.2% | -13.5% | $53K |
| SMH | trade.xyz | OKX | 46.9% | 55.6% | -11.4% | $104K |
| BE | trade.xyz | OKX | 46.5% | 51.4% | -6.6% | $2.8M |
| ASML | trade.xyz | OKX | 45.4% | 49.9% | -3.1% | $554K |
| NET | OKX | trade.xyz | 45.4% | 56.1% | +29.2% | $61K |
| BMNR | OKX | trade.xyz | 45.2% | 52.2% | +14.7% | $333K |
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.
OKX vs trade.xyz — FAQ
How many markets can you arbitrage between OKX and trade.xyz?
71 perpetual markets are quoted on both OKX and trade.xyz right now. 52 of them show a net spread of at least 5% APR after estimated fees, and 42 have at least $1M of 24h volume on the smaller leg.
What is the best OKX / trade.xyz funding spread right now?
SOXL: long trade.xyz and short OKX for about 162.2% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 71 shared markets is 17.7%, so the top of the list is not typical.
Which side pays on the OKX / trade.xyz pair?
It varies by market: OKX is the long (funding-receiving) leg in 26 of the shared markets and trade.xyz in the other 45. The direction is set per market by which venue currently prices funding lower.
Trading the OKX / trade.xyz 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: OKX funding rates · trade.xyz funding rates; the full calculation is in the methodology.