Funding arb · Price arb /

OP

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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: BingX against Binance−0.016%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days−0.015%−$2 · spread now −0.016%, 7d avg −0.037%

Together, before fees+0.058%+$6 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: BingX is 0.021% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1279	0.0100	pay 0.0100% / 8h	33m 56s	$20.7M	$61.8M	75x
Short	BingX OP-USDT	0.1279	0.0100	get 0.0100% / 8h	33m 56s	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → −0.037%: $2.1
Slippage, 4 orders: −$18.86
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.76
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; BingX: live order book, 4 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, 8 min ago	0.39 bp	11.4 bp −$11	24.0 bp −$240	104.7 bp −$10.5K	doesn't fit
Sell BingX live order book, 4 min ago	0.39 bp	9.8 bp −$10	15.2 bp −$152	70.6 bp −$7,060	346.8 bp −$173.4K

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	−0.1633%	1h	0.1273	−0.477%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1279	−0.004%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0532%	1h	0.1278	−0.086%	$42K	$171K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1276	−0.242%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1281	+0.133%	$40K	$519	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1279	+0.009%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0064%	8h	0.1279	−0.008%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0072%	8h	0.1276	−0.219%	$234K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1280	+0.094%	$291K	$922K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1280	+0.102%	$4.1M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1279	+0.006%	$214K	$241K	10x	as long as short
Binance OPUSDTlong	+0.0100%	8h	0.1279	long leg	$20.7M	$61.8M	75x
Bybit OPUSDT	+0.0100%	8h	0.1278	−0.055%	$18.6M	$25.8M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1279	−0.008%	$6.1M	$30.5M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	+0.031%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1279	−0.008%	$20.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1278	−0.086%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1279	−0.008%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDTshort	+0.0100%	8h	0.1279	−0.016%	—	$6.8M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.039%	$124K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1279	−0.040%	$9K	$383K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1278	−0.086%	$319K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1280	+0.070%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1279	−0.023%	$200	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1280	+0.078%	$177K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1279	−0.018%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1279	−0.020%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1280	+0.086%	$1.0M	$291K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0357%	1h	0.1280	+0.083%	$801K	$746K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1278	−0.080%	$711	—	20x	as long as short