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: MEXC against BingX−0.031%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

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

costs, in and out, $10k−$230.233% of the position

Long on BingX Short on MEXC

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+0.057%+$6 · spread now −0.031%, 7d avg +0.032%

Together, before fees−0.016%−$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 0.063% cheaper against BingX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OP-USDT	0.1281	0.0100	pay 0.0100% / 8h	1h 12m	—	$6.8M	—
Short	MEXC OP_USDT	0.1280	0.0100	get 0.0100% / 8h	1h 12m	$20.2M	$7.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → +0.032%: −$6.29
Slippage, 4 orders: −$13.32
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$29.61
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; MEXC: 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 BingX live order book, 4 min ago	0.39 bp	9.6 bp −$10	15.0 bp −$150	72.7 bp −$7,267	329.7 bp −$164.9K
Sell MEXC live order book, 1 min ago	0.39 bp	2.9 bp −$3	6.8 bp −$68	55.6 bp −$5,556	105.6 bp −$52.8K

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	0.1274	−0.523%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	−0.045%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1278	−0.211%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1280	−0.047%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	−0.055%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	−0.044%	—	—	150x	as long as short
Variational Omni OP	+0.0060%	8h	0.1280	−0.087%	$233K	$53K	—	as long as short
Orderly PERP_OP_USDC	+0.0062%	8h	0.1279	−0.133%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1281	+0.016%	$290K	$922K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1281	−0.008%	$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	0.1281	−0.013%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1281	0.000%	$20.8M	$61.9M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1280	−0.055%	$18.8M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1280	−0.016%	$6.0M	$30.2M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	−0.086%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1280	−0.031%	$20.2M	$7.2M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1279	−0.133%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1280	−0.055%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDTlong	+0.0100%	8h	0.1281	long leg	—	$6.8M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.102%	$125K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1279	−0.124%	$9K	$384K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	−0.126%	$320K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1279	−0.133%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1279	−0.102%	$178	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1280	−0.016%	$177K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1280	−0.041%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1280	−0.078%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1279	−0.125%	$1.0M	$298K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1281	+0.007%	$801K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1279	−0.110%	$711	—	20x	as long as short