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 +0.031%

Price spread now: KuCoin against Gate−0.157%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$990.989% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 7 days+0.153%+$15 · spread now −0.157%, 7d avg −0.021%

Together, before fees+0.299%+$30 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: KuCoin is 0.136% cheaper against Gate than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OP_USDT	0.1274	0.0100	pay 0.0100% / 8h	5m 00s	$2.0M	$1.6M	50x
Short	KuCoin OPUSDTM	0.1272	0.0100	get 0.0100% / 8h	5m 00s	$2.9M	$7.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → −0.021%: −$13.57
Slippage, 4 orders: −$71.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$112.46
Costs to cover: 0.989%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; KuCoin: live order book, 3 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	3.14 bp	23.9 bp −$24	58.4 bp −$584	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.93 bp	23.5 bp −$24	66.7 bp −$667	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	−0.1633%	1h	0.1266	−0.628%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1272	−0.119%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1270	−0.314%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1274	−0.015%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1273	−0.078%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1273	−0.096%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0060%	8h	0.1272	−0.157%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0060%	8h	0.1270	−0.316%	$232K	$47K	—	as long as short
Lighter OP	+0.0096%	1h	0.1273	−0.063%	$289K	$963K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1274	−0.016%	$4.1M	$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	0.1273	−0.080%	$213K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1274	0.000%	$20.6M	$61.9M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1274	−0.016%	$18.4M	$26.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1275	+0.063%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDTlong	+0.0100%	8h	0.1274	long leg	$2.0M	$1.6M	50x
MEXC OP_USDT	+0.0100%	8h	0.1273	−0.055%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTMshort	+0.0100%	8h	0.1272	−0.157%	$2.9M	$7.3M	75x
Bitget OPUSDT	+0.0100%	8h	0.1274	0.000%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1274	−0.031%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1272	−0.149%	$123K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1271	−0.219%	$11K	$383K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1273	−0.098%	$312K	$4.8M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1271	−0.235%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1272	−0.149%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1273	−0.039%	$176K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1273	−0.043%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1273	−0.118%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1272	−0.196%	$1.0M	$279K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0359%	1h	0.1274	−0.007%	$801K	$749K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1273	−0.115%	$708	—	20x	as long as short