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 −0.024%

Price spread now: Gate against Bybit+0.062%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.062%, 7d avg +0.027%

Together, before fees−0.230%−$23 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 0.035% dearer against Bybit than usual: you sell high and buy low, +$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	Bybit OPUSDT	0.1286	0.0100	pay 0.0100% / 8h	1h 00m	$18.9M	$25.5M	75x
Short	Gate OP_USDT	0.1287	0.0100	get 0.0100% / 8h	1h 00m	$2.0M	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → +0.027%: $3.49
Slippage, 4 orders: −$38.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.91
Costs to cover: 0.644%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Gate: live order book, 3 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, 4 min ago	0.39 bp	12.3 bp −$12	27.7 bp −$277	99.6 bp −$9,964	doesn't fit
Sell Gate live order book, 3 min ago	2.33 bp	16.7 bp −$17	51.6 bp −$516	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	−0.381%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1287	+0.095%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1280	−0.459%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1288	+0.179%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1287	+0.086%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1287	+0.098%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0064%	8h	0.1287	+0.086%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0076%	8h	0.1284	−0.118%	$236K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1288	+0.140%	$290K	$928K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1288	+0.132%	$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	+0.091%	$215K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1287	+0.067%	$20.9M	$61.7M	75x	as long as short
Bybit OPUSDTlong	+0.0100%	8h	0.1286	long leg	$18.9M	$25.5M	75x
OKX OP-USDT-SWAP	+0.0100%	8h	0.1286	+0.047%	$6.1M	$30.5M	50x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1287	+0.062%	$2.0M	$1.6M	50x
MEXC OP_USDT	+0.0100%	8h	0.1287	+0.054%	$20.6M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1287	+0.086%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1287	+0.086%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1287	+0.086%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1286	+0.031%	$125K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1286	+0.015%	$10K	$384K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1285	−0.070%	$321K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1287	+0.086%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1286	+0.023%	$176	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1288	+0.124%	$178K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1286	+0.029%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1287	+0.075%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1289	+0.226%	$1.0M	$291K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0223%	1h	0.1288	+0.162%	$805K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1287	+0.069%	$716	—	20x	as long as short