Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: MEXC against ApeX Omni+0.421%66s7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.485% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−1.047%−$105 · spread now +0.421%, 7d avg −0.055%

Together, before fees−1.115%−$111 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.475% dearer against ApeX Omni than usual: you sell high and buy low, +$48 on $10k if it goes back to its 7-day average of −0.055%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni OPUSDT	0.1260	0.0100	pay 0.0013% / 1h	26m 25s	$43K	$712K	50x
Short	MEXC OP_USDT	0.1265	0.0100	get 0.0100% / 8h	6h 26m	$20.7M	$7.5M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee MEXCbpOrdersPrice spread, now +0.421%Rate

Funding earned: $0
Price spread: +0.421% → −0.055%: $47.52
Slippage, 4 orders: −$38.54
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$1.02
Costs to cover: 0.485%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 42 min ago; MEXC: live order book, 2 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 ApeX Omni live order book, 42 min ago	11.77 bp	20.4 bp −$20	127.5 bp −$1,275	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.79 bp	4.8 bp −$5	36.3 bp −$363	78.6 bp −$7,863	128.3 bp −$64.1K

OP on 29 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
Injective OP/USDC PERP	−0.1535%	1h	0.1258	−0.159%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1265	+0.424%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.508%	$25K	$75K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	+0.380%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	+0.397%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1265	+0.410%	—	—	150x	as long as short
Variational Omni OP	+0.0053%	8h	0.1264	+0.352%	$225K	$49K	—	as long as short
Orderly PERP_OP_USDC	+0.0057%	8h	0.1265	+0.397%	$6K	$47K	10x	as long as short
OKX OP-USDT-SWAP	+0.0087%	8h	0.1265	+0.437%	$6.1M	$29.9M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1266	+0.500%	$281K	$949K	15x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1266	+0.476%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1266	+0.482%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1265	+0.421%	$20.4M	$62.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1265	+0.381%	$18.4M	$26.0M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1266	+0.484%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1265	+0.421%	$20.7M	$7.5M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1265	+0.397%	$2.9M	$6.9M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1266	+0.476%	$5.9M	$6.6M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1266	+0.476%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1265	+0.373%	$124K	$203K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1260	−0.004%	$4K	$387K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1258	−0.160%	$310K	$5.3M	10x	as long as short
ApeX Omni OPUSDTlong	+0.0100%	1h	0.1260	long leg	$43K	$712K	50x
SoDEX OP-USD	+0.0100%	1h	0.1265	+0.381%	$178	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1265	+0.429%	$175K	$226K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1265	+0.375%	$104K	$393K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	+0.437%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0439%	1h	0.1265	+0.406%	$703	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0461%	1h	0.1266	+0.452%	$799K	$593K	20x	as long as short