OP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h −0.002%

Price spread now: BloFin against Bybit−0.125%62s7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.494% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 3 days (all we have)+0.457%+$46 · spread now −0.125%, 7d avg +0.068%

Together, before fees+0.645%+$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.193% cheaper against Bybit than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of +0.068%). If the spread goes back, that is −$19 on $10k: about 5.4 days of funding at the current rate (+$4 a day). The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPUSDT	0.1277	0.0100	pay 0.0100% / 8h	1h 22m	$18.8M	$25.4M	75x
Short	BloFin OP-USDT	0.1276	0.0220	get 0.0220% / 8h	1h 22m	$1.0M	$287K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.125%Rate

Funding earned: $25.2
Price spread: −0.125% → +0.068%: −$19.32
Slippage, 4 orders: −$26.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$43.54
Costs to cover: 0.494%
Break-even: 19.1 days

Slippage from Bybit: live order book, 1 min ago; BloFin: 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 Bybit live order book, 1 min ago	0.78 bp	14.6 bp −$15	32.9 bp −$329	106.1 bp −$10.6K	doesn't fit
Sell BloFin live order book, 5 min ago	3.14 bp	11.0 bp −$11	23.5 bp −$235	65.2 bp −$6,524	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	0.1266	−0.885%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1277	+0.006%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1269	−0.650%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1277	−0.035%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1278	+0.055%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1278	+0.037%	—	—	150x	as long as short
Variational Omni OP	+0.0047%	8h	0.1273	−0.369%	$233K	$52K	—	as long as short
Orderly PERP_OP_USDC	+0.0058%	8h	0.1277	−0.023%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1279	+0.110%	$277K	$906K	15x	as long as short
OKX OP-USDT-SWAP	+0.0098%	8h	0.1278	+0.047%	$6.0M	$30.2M	50x	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	0.1278	+0.086%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1278	+0.046%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1278	+0.048%	$20.8M	$61.8M	75x	as long as short
Bybit OPUSDTlong	+0.0100%	8h	0.1277	long leg	$18.8M	$25.4M	75x
Gate OP_USDT	+0.0100%	8h	0.1278	+0.039%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1278	+0.039%	$20.1M	$7.1M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1277	−0.023%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1278	+0.055%	$6.1M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1277	−0.023%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1276	−0.094%	$127K	$190K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1275	−0.175%	$11K	$380K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1276	−0.102%	$319K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1276	−0.102%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1278	+0.023%	$179	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1278	+0.039%	$177K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1277	−0.027%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1278	+0.016%	$4K	—	3x	as long as short
BloFin OP-USDTshort	+0.0220%	8h	0.1276	−0.125%	$1.0M	$287K	75x
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1279	+0.117%	$799K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1277	−0.058%	$710	—	20x	as long as short