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 −0.008%

Price spread now: Binance against Gate−0.008%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.008%, 7d avg +0.032%

Together, before fees+0.185%+$18 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: Binance is 0.040% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OP_USDT	0.1287	0.0100	pay 0.0100% / 8h	1h 01m	$2.0M	$1.6M	50x
Short	Binance OPUSDT	0.1287	0.0100	get 0.0100% / 8h	1h 01m	$20.9M	$61.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → +0.032%: −$3.98
Slippage, 4 orders: −$35.41
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$64.39
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Binance: live order book, 11 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 Gate live order book, 2 min ago	2.33 bp	24.0 bp −$24	61.6 bp −$616	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.39 bp	9.4 bp −$9	21.1 bp −$211	90.3 bp −$9,033	doesn't fit

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	0.1281	−0.466%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1286	−0.043%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1280	−0.544%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1286	−0.092%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1287	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1287	−0.017%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0064%	8h	0.1286	−0.078%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0068%	8h	0.1283	−0.344%	$234K	$53K	—	as long as short
Lighter OP	+0.0096%	1h	0.1288	+0.039%	$291K	$927K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1286	−0.054%	$4.2M	$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	0.1287	−0.022%	$215K	$241K	10x	as long as short
Binance OPUSDTshort	+0.0100%	8h	0.1287	−0.008%	$20.9M	$61.7M	75x
Bybit OPUSDT	+0.0100%	8h	0.1287	+0.023%	$18.9M	$25.5M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1288	+0.093%	$6.1M	$30.5M	50x	as long as short
Gate OP_USDTlong	+0.0100%	8h	0.1287	long leg	$2.0M	$1.6M	50x
MEXC OP_USDT	+0.0100%	8h	0.1288	+0.085%	$20.5M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1288	+0.078%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1288	+0.078%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1288	+0.070%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1288	+0.054%	$125K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1286	−0.071%	$10K	$384K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1285	−0.155%	$321K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1287	0.000%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1286	−0.047%	$176	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1286	−0.054%	$178K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1286	−0.065%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1286	−0.084%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1289	+0.140%	$1.0M	$291K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0224%	1h	0.1288	+0.051%	$805K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1285	−0.129%	$715	—	20x	as long as short