Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Gate+0.211%7-day average — · you sell dearer than you buy

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

Long on Gate Short on gTrade (Gains Network)

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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.211% dearer against Gate than usual: you sell high and buy low (spread +0.211% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OP_USDT	0.1272	0.0100	pay 0.0100% / 8h	4h 28m	$2.0M	$1.4M	50x
Short	gTrade (Gains Network) OP/USD	0.1275	L +0.0004% / S −0.0004%	get 0.0000% / 1h	28m 55s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.211%Rate

Funding earned: −$20.17
Price spread: +0.211% → 0.000%: $21.07
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$24.11
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; gTrade (Gains Network): 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 Gate live order book, 4 min ago	1.97 bp	21.1 bp −$21	54.0 bp −$540	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	−0.1607%	1h	0.1268	−0.314%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1274	+0.171%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1276	+0.314%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1274	+0.157%	$42K	$141K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1275	+0.211%	—	—	150x
OKX OP-USDT-SWAP	+0.0046%	8h	0.1271	−0.063%	$6.2M	$28.8M	50x	as long as short
Variational Omni OP	+0.0053%	8h	0.1271	−0.116%	$225K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1274	+0.157%	$6K	$44K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1274	+0.165%	$280K	$941K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1273	+0.118%	$3.7M	$2.8M	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	0.1273	+0.090%	$213K	$219K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1271	−0.071%	$20.5M	$60.3M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1270	−0.126%	$18.6M	$24.9M	75x	as long as short
Gate OP_USDTlong	+0.0100%	8h	0.1272	long leg	$2.0M	$1.4M	50x
MEXC OP_USDT	+0.0100%	8h	0.1271	−0.071%	$21.5M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1270	−0.157%	$2.9M	$6.6M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1271	−0.079%	$5.9M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1272	0.000%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1272	+0.016%	$126K	$201K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1270	−0.129%	$4K	$389K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1271	−0.075%	$318K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	−0.865%	$43K	$710K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1274	+0.173%	$203	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1275	+0.212%	$175K	$228K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1271	−0.077%	$104K	$394K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1274	+0.180%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0168%	1h	0.1262	−0.786%	$24K	$64K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1273	+0.086%	$1.0M	$280K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0345%	1h	0.1275	+0.220%	$794K	$547K	20x	as long as short
Reya OPRUSDPERP	+0.0441%	1h	0.1274	+0.187%	$709	—	20x	as long as short