Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX−0.158%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$282as in the Funding arb table

Net, price: spread back to 7d avg − costs−$298as in the Price arb table

costs, in and out, $10k−$2822.819% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.158% cheaper against BingX than usual: you would sell low and buy high, −$16 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OP-USDC	0.1264	0.0100	pay 0.0100% / 8h	6h 50m	—	$1.6M	—
Short	KuCoin OPUSDTM	0.1262	0.0100	get 0.0100% / 8h	6h 50m	$2.9M	$7.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.158%Rate

Funding earned: $0
Price spread: −0.158% → 0.000%: −$15.82
Slippage, 4 orders: −$259.88
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$297.7
Costs to cover: 2.819%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; KuCoin: live order book, 3 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 BingX live order book, 11 min ago	7.91 bp	105.2 bp −$105	841.3 bp −$8,413	1145.5 bp −$114.5K	doesn't fit
Sell KuCoin live order book, 3 min ago	3.96 bp	25.4 bp −$25	79.8 bp −$798	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	−0.1535%	1h	0.1256	−0.633%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1262	−0.126%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.187%	$25K	$77K	50x	as long as short
ApeX Omni OPUSDT	−0.0035%	1h	0.1258	−0.475%	$43K	$724K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1264	0.000%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1263	−0.079%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1263	−0.113%	—	—	150x	as long as short
Variational Omni OP	+0.0055%	8h	0.1260	−0.284%	$224K	$52K	—	as long as short
Orderly PERP_OP_USDC	+0.0058%	8h	0.1262	−0.158%	$6K	$48K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1264	0.000%	$281K	$946K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX OP-USDT-SWAP	+0.0097%	8h	0.1263	−0.079%	$6.1M	$30.1M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1265	+0.040%	$3.9M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1263	−0.059%	$211K	$231K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1263	−0.111%	$20.4M	$62.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1262	−0.174%	$18.3M	$26.2M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1263	−0.071%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1263	−0.095%	$20.5M	$7.4M	300x	as long as short
KuCoin OPUSDTMshort	+0.0100%	8h	0.1262	−0.158%	$2.9M	$7.0M	75x
Bitget OPUSDT	+0.0100%	8h	0.1263	−0.079%	$5.9M	$6.6M	75x	as long as short
BingX OP-USDClong	+0.0100%	8h	0.1264	long leg	—	$1.6M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1263	−0.079%	$122K	$198K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1258	−0.491%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1260	−0.283%	$312K	$5.2M	10x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1263	−0.087%	$166	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1263	−0.111%	$174K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1262	−0.151%	$101K	$395K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1263	−0.119%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	−0.150%	$1.0M	$276K	75x	as long as short
Reya OPRUSDPERP	+0.0439%	1h	0.1262	−0.135%	$702	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0462%	1h	0.1264	−0.002%	$798K	$618K	20x	as long as short