Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Gate−0.104%52s7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1481.481% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.765%+$76 · spread now −0.104%, 7d avg −0.040%

Together, before fees+0.912%+ Points / potential airdropedgeX: Active · farm board+$91 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: edgeX is 0.064% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.040%. The two prices were read 52 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	Gate OP_USDT	0.1248	0.0100	pay 0.0100% / 8h	14m 27s	$2.0M	$1.5M	50x
Short	edgeX OPUSDC	0.1246	0.0100	get 0.0050% / 4h	14m 27s	$4K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0
Price spread: −0.104% → −0.040%: −$6.39
Slippage, 4 orders: −$124.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$154.47
Costs to cover: 1.481%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; edgeX: live order book, 4 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, 3 min ago	2.81 bp	25.1 bp −$25	56.2 bp −$562	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	40.13 bp	50.1 bp −$50	189.5 bp −$1,895	doesn't fit	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	−0.1660%	1h	0.1235	−1.018%	$34K	$63K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1164% / S +0.0246%	1h	0.1245	−0.181%	$13K	—	100x	as long as short
Orderly PERP_OP_USDC	−0.0055%	8h	0.1245	−0.216%	$12K	$236K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1248	+0.010%	$39K	$522	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1245	−0.216%	$32K	$164K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1246	−0.151%	—	—	150x	as long as short
Variational Omni OP	+0.0061%	8h	0.1245	−0.228%	$220K	$47K	—	as long as short
KuCoin OPUSDTM	+0.0072%	8h	0.1245	−0.216%	$2.8M	$6.1M	75x	as long as short
Coinbase International OP-PERP-INTX	+0.0080%	1h	0.1242	−0.457%	$24K	$65K	50x	as long as short
Lighter OP	+0.0096%	1h	0.1247	−0.016%	$288K	$1.1M	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	−0.016%	$3.5M	$3.6M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1247	−0.056%	$205K	$210K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1247	−0.077%	$19.6M	$67.6M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1246	−0.136%	$18.2M	$26.3M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1247	−0.088%	$6.0M	$29.5M	50x	as long as short
Gate OP_USDTlong	+0.0100%	8h	0.1248	long leg	$2.0M	$1.5M	50x
MEXC OP_USDT	+0.0100%	8h	0.1247	−0.056%	$22.2M	$7.8M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1246	−0.136%	$5.6M	$6.8M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1247	−0.056%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1245	−0.192%	$115K	$221K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1246	−0.104%	$4K	$1.1M	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1245	−0.216%	$305K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1244	−0.297%	$43K	$697K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1245	−0.208%	$213	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1245	−0.176%	$165K	$259K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1246	−0.164%	$99K	$610K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1245	−0.194%	$3K	$1K	3x	as long as short
Kraken Futures PF_OPUSD	+0.0165%	1h	0.1246	−0.106%	$740K	$679K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1245	−0.184%	$989K	$323K	75x	as long as short
Reya OPRUSDPERP	+0.0444%	1h	0.1245	−0.251%	$692	—	20x	as long as short