OP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.024%

Price spread now: Bybit against Gate−0.152%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 7 days+0.137%+$14 · spread now −0.152%, 7d avg −0.027%

Together, before fees+0.264%+$26 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: Bybit is 0.125% cheaper against Gate than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OP_USDT	0.1251	0.0099	pay 0.0099% / 8h	3h 03m	$1.8M	$1.5M	50x
Short	Bybit OPUSDT	0.1249	0.0100	get 0.0100% / 8h	3h 03m	$18.4M	$25.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.152%Rate

Funding earned: $0.21
Price spread: −0.152% → −0.027%: −$12.5
Slippage, 4 orders: −$45.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$84.22
Costs to cover: 0.719%
Break-even: 2814.5 days

Slippage from Gate: live order book, 4 min ago; Bybit: live order book, 5 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, 4 min ago	4.00 bp	24.9 bp −$25	58.3 bp −$583	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.40 bp	11.4 bp −$11	24.4 bp −$244	76.7 bp −$7,668	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	−0.1622%	1h	0.1244	−0.575%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1251	−0.046%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0304%	1h	0.1247	−0.336%	$21K	$64K	50x	as long as short
Variational Omni OP	−0.0002%	8h	0.1248	−0.265%	$227K	$45K	—	as long as short
dYdX OP-USD	0.0000%	1h	0.1252	+0.034%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1251	−0.016%	$43K	$194K	25x	as long as short
Kraken Futures PF_OPUSD	+0.0001%	1h	0.1251	−0.040%	$772K	$752K	20x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1251	−0.016%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0025%	8h	0.1251	−0.016%	$6K	$51K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1252	+0.024%	$268K	$900K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate OP_USDTlong	+0.0099%	8h	0.1251	long leg	$1.8M	$1.5M	50x
OKX OP-USDT-SWAP	+0.0099%	8h	0.1249	−0.144%	$5.8M	$29.8M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1253	+0.104%	$3.9M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1252	+0.047%	$211K	$246K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1250	−0.097%	$20.2M	$63.4M	75x	as long as short
Bybit OPUSDTshort	+0.0100%	8h	0.1249	−0.152%	$18.4M	$25.8M	75x
MEXC OP_USDT	+0.0100%	8h	0.1251	−0.032%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1251	−0.016%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1250	−0.096%	$6.0M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1250	−0.080%	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1251	+0.008%	$128K	$196K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1249	−0.194%	$9K	$380K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1248	−0.220%	$303K	$5.4M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1251	−0.016%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1249	−0.168%	$153	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1251	−0.024%	$178K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1249	−0.146%	$100K	$196K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1250	−0.060%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1250	−0.136%	$995K	$296K	75x	as long as short
Reya OPRUSDPERP	+0.0435%	1h	0.1250	−0.065%	$695	—	20x	as long as short