Funding arb · Price arb /

OP

all OP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.039%

Price spread now: Aster against Binance−0.103%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$690.686% of the position

Long on Binance Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.103%, 7d avg +0.021%

Together, before fees+0.168%+ Points / potential airdropAster: Stage 5 · farm board+$17 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: Aster is 0.125% cheaper against Binance than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1261	0.0100	pay 0.0100% / 8h	1h 56m	$20.5M	$62.5M	75x
Short	Aster OPUSDT	0.1259	0.0100	get 0.0100% / 8h	1h 56m	$211K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Binance. 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 BinancebpFee AsterbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → +0.021%: −$12.46
Slippage, 4 orders: −$50.55
Fee Binance: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$81.01
Costs to cover: 0.686%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; Aster: live order book, 25 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 Binance live order book, 16 min ago	0.79 bp	11.4 bp −$11	22.8 bp −$228	108.7 bp −$10.9K	doesn't fit
Sell Aster live order book, 25 min ago	9.47 bp	18.5 bp −$19	doesn't fit	doesn't fit	doesn't fit

OP on 30 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	−0.1710%	1h	0.1251	−0.758%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1259	−0.106%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1243	−1.392%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1261	+0.026%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1259	−0.123%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1259	−0.138%	—	—	150x	as long as short
Variational Omni OP	+0.0042%	8h	0.1257	−0.273%	$231K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0044%	8h	0.1258	−0.203%	$6K	$50K	10x	as long as short
OKX OP-USDT-SWAP	+0.0092%	8h	0.1260	−0.060%	$5.9M	$29.7M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1262	+0.083%	$271K	$899K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1262	+0.115%	$4.1M	$3.0M	5x	as long as short
Aster OPUSDTshort	+0.0100%	8h	0.1259	−0.103%	$211K	$241K	10x
Binance OPUSDTlong	+0.0100%	8h	0.1261	long leg	$20.5M	$62.5M	75x
Bybit OPUSDT	+0.0100%	8h	0.1259	−0.091%	$18.4M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1259	−0.139%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1261	+0.020%	$20.0M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1260	−0.044%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1260	−0.044%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1258	−0.203%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1259	−0.123%	$124K	$193K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1257	−0.304%	$11K	$377K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	−0.281%	$311K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1259	−0.123%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1258	−0.171%	$175	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1259	−0.099%	$174K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1259	−0.126%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1259	−0.150%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1259	−0.123%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0229%	1h	0.1259	−0.095%	$779K	$732K	20x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1259	−0.149%	$700	—	20x	as long as short