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 +0.008%

Price spread now: Gate against Binance+0.038%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.095%−$10 · spread now +0.038%, 7d avg −0.031%

Together, before fees−0.198%−$20 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: Gate is 0.069% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1272	0.0100	pay 0.0100% / 8h	12m 02s	$20.6M	$61.9M	75x
Short	Gate OP_USDT	0.1273	0.0100	get 0.0100% / 8h	12m 02s	$2.0M	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → −0.031%: $6.9
Slippage, 4 orders: −$42.97
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.07
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Gate: live order book, 1 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, 15 min ago	0.39 bp	10.1 bp −$10	18.7 bp −$187	100.6 bp −$10.1K	doesn't fit
Sell Gate live order book, 1 min ago	1.96 bp	22.3 bp −$22	53.4 bp −$534	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	−0.1633%	1h	0.1267	−0.402%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1273	+0.089%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1270	−0.167%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1273	+0.069%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1273	+0.069%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1274	+0.130%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0062%	8h	0.1273	+0.069%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0065%	8h	0.1275	+0.247%	$232K	$55K	—	as long as short
Lighter OP	+0.0096%	1h	0.1274	+0.132%	$293K	$959K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1274	+0.179%	$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	0.1273	+0.079%	$213K	$241K	10x	as long as short
Binance OPUSDTlong	+0.0100%	8h	0.1272	long leg	$20.6M	$61.9M	75x
Bybit OPUSDT	+0.0100%	8h	0.1272	−0.002%	$18.3M	$25.9M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1273	+0.061%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1273	+0.038%	$2.0M	$1.6M	50x
MEXC OP_USDT	+0.0100%	8h	0.1272	+0.022%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1272	−0.009%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1273	+0.069%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1273	+0.053%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1273	+0.030%	$123K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1276	+0.292%	$11K	$385K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1275	+0.226%	$315K	$4.8M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1277	+0.384%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1272	+0.006%	$191	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1273	+0.061%	$176K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1272	+0.003%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1273	+0.042%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1274	+0.116%	$1.0M	$279K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0359%	1h	0.1274	+0.149%	$801K	$749K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1272	+0.013%	$707	—	20x	as long as short