Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Bitget+0.064%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.064% dearer against Bitget than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1248	0.0100	pay 0.0100% / 8h	2h 53m	$5.9M	$6.2M	75x
Short	gTrade (Gains Network) OP/USD	0.1249	L +0.0004% / S −0.0004%	get 0.0000% / 1h	53m 07s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.064%Rate

Funding earned: −$20.17
Price spread: +0.064% → 0.000%: $6.41
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$35.76
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 5 min ago	4.02 bp	17.5 bp −$18	24.9 bp −$249	86.4 bp −$8,644	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1658%	1h	0.1240	−0.641%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1249	+0.042%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−0.401%	$21K	$64K	50x	as long as short
Variational Omni OP	−0.0002%	8h	0.1247	−0.069%	$227K	$44K	—	as long as short
dYdX OP-USD	0.0000%	1h	0.1246	−0.160%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1248	0.000%	$41K	$164K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1249	+0.064%	—	—	150x
Orderly PERP_OP_USDC	+0.0026%	8h	0.1247	−0.080%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0096%	8h	0.1247	−0.072%	$5.8M	$29.4M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1249	+0.048%	$267K	$899K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate OP_USDT	+0.0099%	8h	0.1248	0.000%	$1.8M	$1.4M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1249	+0.048%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1248	+0.022%	$210K	$243K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1248	−0.024%	$20.2M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1247	−0.112%	$18.4M	$25.4M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1248	−0.032%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1247	−0.080%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1248	long leg	$5.9M	$6.2M	75x
BingX OP-USDT	+0.0100%	8h	0.1247	−0.072%	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1247	−0.040%	$127K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1249	+0.053%	$9K	$379K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1250	+0.174%	$304K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1244	−0.321%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1248	−0.024%	$157	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1248	0.000%	$173K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1248	−0.038%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1248	+0.006%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0138%	1h	0.1248	+0.039%	$771K	$742K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1246	−0.120%	$992K	$294K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1248	+0.023%	$694	—	20x	as long as short