Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.133%

Price spread now: Aster against Coinbase International+1.001%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 1.001% dearer against Coinbase International than usual: you sell high and buy low (spread +1.001% now, against zero (this spread has no 7-day history yet)): +$100 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.335%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OP-PERP-INTX	0.1265	0.0152	pay 0.0019% / 1h	20m 04s	$24K	$70K	50x
Short	Aster OPUSDT	0.1278	0.0100	get 0.0100% / 8h	5h 20m	$213K	$229K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +1.001%Rate

Funding earned: −$10.92
Price spread: +1.001% → 0.000%: $100.07
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $71.15
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Aster: live order book, 41 min ago. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell Aster live order book, 41 min ago	11.46 bp	21.5 bp −$21	doesn't fit	doesn't fit	doesn't fit

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1488%	1h	0.1260	−0.395%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1277	+0.968%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1278	+1.055%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1277	+0.949%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1277	+0.987%	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0030%	8h	0.1276	+0.885%	$6.2M	$29.2M	50x	as long as short
Variational Omni OP	+0.0049%	8h	0.1278	+1.060%	$226K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1277	+0.949%	$6K	$45K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1277	+0.980%	$282K	$936K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1278	+0.996%	$3.7M	$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 OPUSDTshort	+0.0100%	8h	0.1278	+1.001%	$213K	$229K	10x
Binance OPUSDT	+0.0100%	8h	0.1276	+0.885%	$20.6M	$60.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1276	+0.838%	$18.6M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1277	+0.941%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1277	+0.925%	$21.1M	$7.1M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1276	+0.870%	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1276	+0.870%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1277	+0.949%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1276	+0.854%	$122K	$194K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1271	+0.444%	$4K	$387K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1277	+0.937%	$314K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1277	+0.949%	$44K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1276	+0.885%	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1277	+0.917%	$176K	$216K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1276	+0.850%	$107K	$394K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1276	+0.870%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTXlong	+0.0152%	1h	0.1265	long leg	$24K	$70K	50x
BloFin OP-USDT	+0.0220%	8h	0.1279	+1.075%	$1.0M	$273K	75x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1275	+0.829%	$709	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0485%	1h	0.1278	+1.032%	$807K	$573K	20x	as long as short