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 0.000%

Price spread now: MEXC against Binance+0.020%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.020%, 7d avg −0.005%

Together, before fees−0.020%−$2 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 0.025% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1290	0.0100	pay 0.0100% / 8h	55m 44s	$20.9M	$61.7M	75x
Short	MEXC OP_USDT	0.1290	0.0100	get 0.0100% / 8h	55m 44s	$20.6M	$7.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.005%: $2.48
Slippage, 4 orders: −$22.7
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$30.22
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; MEXC: live order book, 8 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, 2 min ago	0.39 bp	11.4 bp −$11	21.3 bp −$213	98.8 bp −$9,883	doesn't fit
Sell MEXC live order book, 8 min ago	3.11 bp	6.4 bp −$6	14.0 bp −$140	65.9 bp −$6,593	118.8 bp −$59.4K

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	0.1281	−0.663%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1290	+0.039%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1280	−0.740%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1290	+0.013%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1290	+0.035%	$43K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1290	+0.034%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1289	−0.042%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0076%	8h	0.1284	−0.401%	$236K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1291	+0.082%	$291K	$918K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1291	+0.082%	$4.2M	$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	0.1289	−0.016%	$215K	$241K	10x	as long as short
Binance OPUSDTlong	+0.0100%	8h	0.1290	long leg	$20.9M	$61.7M	75x
Bybit OPUSDT	+0.0100%	8h	0.1289	−0.042%	$19.0M	$25.5M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1290	+0.020%	$6.1M	$30.6M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1291	+0.097%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1290	+0.020%	$20.6M	$7.1M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1289	−0.042%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1290	+0.035%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1290	+0.027%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1289	−0.035%	$126K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1286	−0.250%	$11K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1287	−0.167%	$322K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1286	−0.275%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1289	−0.019%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1290	+0.004%	$178K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1290	+0.018%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1290	−0.004%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1288	−0.104%	$1.0M	$291K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0354%	1h	0.1291	+0.116%	$807K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1289	−0.032%	$717	—	20x	as long as short