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: MEXC against Bybit+0.119%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.119%, 7d avg +0.054%

Together, before fees−0.109%−$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: MEXC is 0.065% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPUSDT	0.1261	0.0100	pay 0.0100% / 8h	1h 38m	$18.4M	$25.2M	75x
Short	MEXC OP_USDT	0.1263	0.0100	get 0.0100% / 8h	1h 38m	$20.0M	$7.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → +0.054%: $6.46
Slippage, 4 orders: −$18.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$22.94
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Bybit: 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 Bybit live order book, 1 min ago	0.40 bp	11.2 bp −$11	25.0 bp −$250	76.4 bp −$7,641	doesn't fit
Sell MEXC live order book, 1 min ago	0.79 bp	3.7 bp −$4	12.1 bp −$121	61.6 bp −$6,158	119.9 bp −$60.0K

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	0.1257	−0.349%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	+0.219%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1253	−0.666%	$21K	$63K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1263	+0.114%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1264	+0.206%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	+0.189%	—	—	150x	as long as short
Variational Omni OP	+0.0040%	8h	0.1262	+0.024%	$234K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0055%	8h	0.1263	+0.127%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1263	+0.151%	$275K	$904K	15x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1262	+0.048%	$5.9M	$29.7M	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	0.1264	+0.206%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1263	+0.138%	$211K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1263	+0.097%	$20.5M	$62.0M	75x	as long as short
Bybit OPUSDTlong	+0.0100%	8h	0.1261	long leg	$18.4M	$25.2M	75x
Gate OP_USDT	+0.0100%	8h	0.1263	+0.127%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1263	+0.119%	$20.0M	$7.1M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1262	+0.048%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1263	+0.127%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1262	+0.048%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1262	+0.071%	$125K	$190K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1262	+0.069%	$9K	$379K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1262	+0.048%	$315K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1262	+0.048%	$45K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1262	+0.079%	$183	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1262	+0.079%	$175K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1262	+0.071%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1263	+0.087%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1263	+0.119%	$998K	$282K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0228%	1h	0.1263	+0.127%	$789K	$740K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1263	+0.124%	$702	—	20x	as long as short