Funding arb · Price arb /

OP

all OP markets

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: Coinbase International against edgeX+0.009%77s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Coinbase International

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 airdropedgeX: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.335%, so the current rate has only just turned in your favour. The two prices were read 77 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	edgeX OPUSDC	0.1278	0.0100	pay 0.0050% / 4h	1h 16m	$4K	$388K	10x
Short	Coinbase International OP-PERP-INTX	0.1278	0.0152	get 0.0019% / 1h	16m 18s	$25K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.009%Rate

Funding earned: $10.92
Price spread: +0.009% → 0.000%: $0.9
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$7.18
Costs to cover: 0.190%
Break-even: 11.6 days

Slippage unknown: edgeX: live order book, 47 min ago; Coinbase International: no order-book sample. 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 edgeX live order book, 47 min ago	3.96 bp	11.3 bp −$11	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

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	0.1273	−0.382%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1276	−0.138%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1277	−0.089%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1275	−0.226%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1277	−0.096%	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0029%	8h	0.1272	−0.429%	$6.2M	$29.1M	50x	as long as short
Variational Omni OP	+0.0049%	8h	0.1278	+0.041%	$226K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1274	−0.304%	$6K	$45K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1274	−0.273%	$282K	$936K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1277	−0.108%	$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 OPUSDT	+0.0100%	8h	0.1276	−0.127%	$213K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1274	−0.338%	$20.6M	$60.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1273	−0.406%	$18.6M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1277	−0.101%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1274	−0.304%	$21.0M	$7.1M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1276	−0.148%	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1275	−0.226%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1275	−0.194%	—	$6.3M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1278	−0.022%	$122K	$194K	10x	as long as short
edgeX OPUSDClong	+0.0100%	4h	0.1278	long leg	$4K	$388K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1278	−0.027%	$315K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1281	+0.244%	$44K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1274	−0.281%	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1276	−0.171%	$176K	$216K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1273	−0.360%	$107K	$394K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1273	−0.343%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTXshort	+0.0152%	1h	0.1278	+0.009%	$25K	$71K	50x
BloFin OP-USDT	+0.0220%	8h	0.1278	−0.007%	$1.0M	$273K	75x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1275	−0.205%	$709	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0486%	1h	0.1276	−0.162%	$806K	$572K	20x	as long as short