CHIP: 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

+30%

APR right now

Price gap

+0.022%

between legs

Average spread

+2%

over 24h from our own samples

Over 7 days

+2%

samples: 202

OKXLONG

Bid / ask0.04595 / 0.04596

Mark price0.04596

Volume 24h$5.48M

Open interest$2.09M

Rate-0.0088%

APR-19%

Interval / next payout4h / 18m

OKX

BybitSHORT

Bid / ask0.04597 / 0.04599

Mark price0.04601

Volume 24h$6.55M

Open interest$10.31M

Rate+0.0050%

APR+11%

Interval / next payout4h / 18m

Bybit

Spread from our samples

spread over the period: from -58% to 58% APR, 202 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.