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 +0.008%

Price spread now: Bitget against Bybit+0.087%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 7 days−0.123%−$12 · spread now +0.087%, 7d avg +0.024%

Together, before fees−0.105%−$11 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: Bitget is 0.063% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPUSDT	0.1259	0.0100	pay 0.0100% / 8h	1h 56m	$18.4M	$25.3M	75x
Short	Bitget OPUSDT	0.1260	0.0100	get 0.0100% / 8h	1h 56m	$6.0M	$6.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.087%Rate

Funding earned: $0
Price spread: +0.087% → +0.024%: $6.33
Slippage, 4 orders: −$25.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.08
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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 Bybit live order book, 2 min ago	0.40 bp	13.9 bp −$14	32.8 bp −$328	112.9 bp −$11.3K	doesn't fit
Sell Bitget live order book, 2 min ago	3.98 bp	15.9 bp −$16	33.7 bp −$337	95.9 bp −$9,594	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	0.1251	−0.628%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1260	+0.114%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1243	−1.263%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1261	+0.158%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1259	+0.008%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1261	+0.143%	—	—	150x	as long as short
Variational Omni OP	+0.0042%	8h	0.1257	−0.143%	$231K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0045%	8h	0.1260	+0.087%	$6K	$50K	10x	as long as short
OKX OP-USDT-SWAP	+0.0092%	8h	0.1260	+0.071%	$5.9M	$29.7M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1262	+0.214%	$271K	$899K	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	0.1262	+0.246%	$4.1M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1260	+0.111%	$212K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1260	+0.095%	$20.5M	$62.5M	75x	as long as short
Bybit OPUSDTlong	+0.0100%	8h	0.1259	long leg	$18.4M	$25.3M	75x
Gate OP_USDT	+0.0100%	8h	0.1260	+0.087%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1260	+0.071%	$20.0M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1260	+0.087%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDTshort	+0.0100%	8h	0.1260	+0.087%	$6.0M	$6.2M	75x
BingX OP-USDT	+0.0100%	8h	0.1260	+0.056%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1259	+0.008%	$124K	$193K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1257	−0.173%	$11K	$377K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	−0.150%	$311K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1259	+0.008%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1258	−0.040%	$175	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1259	+0.032%	$174K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1260	+0.119%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1260	+0.087%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1259	+0.008%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0229%	1h	0.1259	+0.036%	$779K	$732K	20x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1260	+0.066%	$700	—	20x	as long as short