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 −0.031%

Price spread now: Gate against Bitget+0.078%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$800.799% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.078%, 7d avg +0.002%

Together, before fees−0.236%−$24 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: Gate is 0.076% dearer against Bitget than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1286	0.0100	pay 0.0100% / 8h	1h 02m	$6.1M	$6.3M	75x
Short	Gate OP_USDT	0.1287	0.0100	get 0.0100% / 8h	1h 02m	$2.0M	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → +0.002%: $7.55
Slippage, 4 orders: −$52.87
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$72.32
Costs to cover: 0.799%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Gate: live order book, 5 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, 1 min ago	3.89 bp	15.0 bp −$15	30.1 bp −$301	101.6 bp −$10.2K	doesn't fit
Sell Gate live order book, 5 min ago	3.12 bp	25.3 bp −$25	65.2 bp −$652	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	−0.1710%	1h	0.1281	−0.389%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1286	−0.030%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1280	−0.467%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1287	+0.103%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1287	+0.078%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1286	+0.012%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0064%	8h	0.1286	0.000%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0068%	8h	0.1283	−0.266%	$234K	$53K	—	as long as short
Lighter OP	+0.0096%	1h	0.1288	+0.132%	$291K	$927K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1287	+0.054%	$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	0.1287	+0.070%	$215K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1285	−0.041%	$20.9M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1285	−0.078%	$18.9M	$25.5M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1286	−0.016%	$6.1M	$30.4M	50x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1287	+0.078%	$2.0M	$1.6M	50x
MEXC OP_USDT	+0.0100%	8h	0.1286	0.000%	$20.5M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1286	0.000%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1286	long leg	$6.1M	$6.3M	75x
BingX OP-USDC	+0.0100%	8h	0.1286	0.000%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1286	−0.008%	$125K	$190K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1285	−0.051%	$10K	$383K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1285	−0.078%	$321K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1282	−0.311%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1286	+0.039%	$176	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1286	+0.031%	$178K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1286	−0.021%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1286	+0.023%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1286	+0.039%	$1.0M	$290K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0223%	1h	0.1288	+0.146%	$805K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1286	−0.037%	$715	—	20x	as long as short