Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: Bitget against gTrade (Gains Network)−0.078%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Bitget is 0.078% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.7 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	gTrade (Gains Network) OP/USD	0.1246	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	50m 21s	—	—	150x
Short	Bitget OPUSDT	0.1245	0.0100	get 0.0100% / 8h	2h 50m	$5.9M	$6.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BitgetbpOrdersPrice spread, now −0.078%Rate

Funding earned: $20.06
Price spread: −0.078% → 0.000%: −$7.79
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$9.73
Costs to cover: 0.220%
Break-even: 10.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bitget: live order book, 3 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	4.01 bp	14.1 bp −$14	34.0 bp −$340	133.4 bp −$13.3K	doesn't fit

gTrade (Gains Network): 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	−0.1658%	1h	0.1240	−0.479%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1245	−0.038%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−0.238%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1245	−0.078%	$38K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1245	−0.078%	$41K	$164K	25x	as long as short
Variational Omni OP	+0.0002%	8h	0.1243	−0.266%	$227K	$44K	—	as long as short
gTrade (Gains Network) OP/USDlong	L +0.0004% / S −0.0004%	1h	0.1246	long leg	—	—	150x
Orderly PERP_OP_USDC	+0.0027%	8h	0.1245	−0.078%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0095%	8h	0.1245	−0.070%	$5.7M	$29.3M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1245	−0.062%	$266K	$899K	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	0.1247	+0.051%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1245	−0.113%	$209K	$243K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1245	−0.078%	$20.1M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1245	−0.118%	$18.3M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1245	−0.062%	$1.8M	$1.4M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1245	−0.086%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1244	−0.158%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDTshort	+0.0100%	8h	0.1245	−0.078%	$5.9M	$6.2M	75x
BingX OP-USDT	+0.0100%	8h	0.1245	−0.102%	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1244	−0.166%	$127K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1247	+0.084%	$9K	$380K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1250	+0.337%	$304K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1248	+0.163%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1244	−0.198%	$160	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1245	−0.094%	$172K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1245	−0.110%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1246	−0.002%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0138%	1h	0.1245	−0.074%	$769K	$742K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1244	−0.158%	$988K	$294K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1245	−0.070%	$692	—	20x	as long as short