Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: edgeX against dYdX−0.103%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.103% cheaper against dYdX than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX OP-USD	0.1265	0	get 0.0000% / 1h	39m 03s	$39K	$519	10x
Short	edgeX OPUSDC	0.1264	0.0100	get 0.0050% / 4h	3h 39m	$4K	$390K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now −0.103%Rate

Funding earned: $21
Price spread: −0.103% → 0.000%: −$10.32
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.32
Costs to cover: 0.190%
Break-even: 9.8 days

Slippage unknown: dYdX: no order-book sample; edgeX: live order book, 34 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 dYdX no order-book sample	—	—	—	—	—
Sell edgeX live order book, 34 min ago	7.86 bp	18.7 bp −$19	144.7 bp −$1,447	doesn't fit	doesn't fit

dYdX: 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	−0.1656%	1h	0.1258	−0.553%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1263	−0.135%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0542%	1h	0.1262	−0.237%	$42K	$171K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.237%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0095%	8h	0.1261	−0.284%	$18.3M	$26.0M	75x	as long as short
dYdX OP-USDlong	0.0000%	1h	0.1265	long leg	$39K	$519	10x
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	−0.097%	—	—	150x	as long as short
Variational Omni OP	+0.0049%	8h	0.1263	−0.197%	$230K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0056%	8h	0.1263	−0.158%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1263	−0.142%	$283K	$948K	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	0.1263	−0.142%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1263	−0.123%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1263	−0.166%	$20.4M	$62.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1262	−0.261%	$6.1M	$29.9M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1264	−0.103%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1262	−0.253%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1262	−0.237%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1263	−0.158%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1262	−0.237%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1262	−0.229%	$121K	$189K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1264	−0.103%	$4K	$390K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1266	+0.064%	$311K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1264	−0.079%	$43K	$724K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1262	−0.245%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1263	−0.126%	$174K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1261	−0.285%	$101K	$340K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1263	−0.178%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	−0.229%	$1.0M	$270K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0384%	1h	0.1264	−0.115%	$797K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1262	−0.204%	$702	—	20x	as long as short