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 −0.008%

Price spread now: Bybit against Bitget+0.095%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days−0.122%−$12 · spread now +0.095%, 7d avg −0.028%

Together, before fees−0.172%−$17 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: Bybit is 0.123% dearer against Bitget than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1261	0.0100	pay 0.0100% / 8h	6h 51m	$5.9M	$6.6M	75x
Short	Bybit OPUSDT	0.1262	0.0100	get 0.0100% / 8h	6h 51m	$18.3M	$26.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now +0.095%Rate

Funding earned: $0
Price spread: +0.095% → −0.028%: $12.31
Slippage, 4 orders: −$38.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.25
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Bybit: live order book, 2 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 Bitget live order book, 2 min ago	3.97 bp	17.3 bp −$17	30.3 bp −$303	103.0 bp −$10.3K	doesn't fit
Sell Bybit live order book, 2 min ago	0.40 bp	13.2 bp −$13	34.3 bp −$343	114.6 bp −$11.5K	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	−0.397%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1262	+0.089%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.427%	$25K	$77K	50x	as long as short
ApeX Omni OPUSDT	−0.0035%	1h	0.1258	−0.238%	$43K	$724K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1261	+0.008%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1262	+0.079%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1262	+0.057%	—	—	150x	as long as short
Variational Omni OP	+0.0055%	8h	0.1260	−0.047%	$224K	$52K	—	as long as short
Orderly PERP_OP_USDC	+0.0058%	8h	0.1262	+0.079%	$6K	$48K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1262	+0.111%	$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	+0.135%	$6.1M	$30.1M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1263	+0.167%	$3.9M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1262	+0.045%	$211K	$231K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1263	+0.182%	$20.3M	$62.5M	75x	as long as short
Bybit OPUSDTshort	+0.0100%	8h	0.1262	+0.095%	$18.3M	$26.2M	75x
Gate OP_USDT	+0.0100%	8h	0.1262	+0.087%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1261	+0.016%	$20.5M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1261	0.000%	$2.9M	$7.0M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1261	long leg	$5.9M	$6.6M	75x
BingX OP-USDT	+0.0100%	8h	0.1262	+0.040%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1261	+0.032%	$121K	$197K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1258	−0.255%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1260	−0.046%	$312K	$5.2M	10x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1262	+0.048%	$164	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1261	+0.008%	$174K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1261	+0.010%	$101K	$395K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1261	+0.026%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	+0.087%	$1.0M	$276K	75x	as long as short
Reya OPRUSDPERP	+0.0439%	1h	0.1261	−0.030%	$701	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0462%	1h	0.1263	+0.139%	$797K	$618K	20x	as long as short