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 −0.025%

Price spread now: MEXC against Bitget0.000%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 7 days+0.023%+$2 · spread now 0.000%, 7d avg +0.027%

Together, before fees−0.048%−$5 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 0.027% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1265	0.0100	pay 0.0100% / 8h	7h 42m	$6.0M	$6.4M	75x
Short	MEXC OP_USDT	0.1265	0.0100	get 0.0100% / 8h	7h 42m	$20.2M	$7.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.027%: −$2.73
Slippage, 4 orders: −$25.11
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$39.85
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.95 bp	17.2 bp −$17	30.6 bp −$306	108.0 bp −$10.8K	doesn't fit
Sell MEXC live order book, 1 min ago	0.79 bp	2.9 bp −$3	12.5 bp −$125	67.0 bp −$6,704	115.3 bp −$57.7K

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	−0.1656%	1h	0.1261	−0.316%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1267	+0.158%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.237%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0098%	8h	0.1264	−0.079%	$18.4M	$26.0M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1266	+0.095%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1267	+0.158%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1267	+0.130%	—	—	150x	as long as short
Variational Omni OP	+0.0052%	8h	0.1266	+0.083%	$231K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0057%	8h	0.1267	+0.158%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1266	+0.071%	$283K	$947K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1266	+0.087%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1266	+0.095%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1265	0.000%	$20.5M	$62.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1264	−0.087%	$6.1M	$29.9M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1266	+0.047%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1265	0.000%	$20.2M	$7.3M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1265	0.000%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1265	long leg	$6.0M	$6.4M	75x
BingX OP-USDC	+0.0100%	8h	0.1264	−0.079%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1266	+0.063%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1267	+0.174%	$4K	$392K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1268	+0.229%	$308K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1267	+0.158%	$43K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1266	+0.103%	$186	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1267	+0.190%	$175K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1265	−0.025%	$101K	$304K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1267	+0.145%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1266	+0.063%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0383%	1h	0.1267	+0.164%	$799K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1265	−0.028%	$703	—	20x	as long as short