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% APRnext payment +$0.00 per $10,000 · paid last 24h −0.025%

Price spread now: Binance against HTX−0.032%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on HTX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now −0.032%, 7d avg −0.011%

Together, before fees−0.151%−$15 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 0.021% cheaper against HTX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1251	0.0100	pay 0.0100% / 8h	1h 03m	$167K	$255K	50x
Short	Binance OPUSDT	0.1251	0.0100	get 0.0100% / 8h	1h 03m	$19.7M	$67.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against HTX. 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 HTXbpFee BinancebpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → −0.011%: −$2.12
Slippage, 4 orders: −$42.75
Fee HTX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.87
Costs to cover: 0.647%
Break-even: never at this rate

Slippage from HTX: live order book, 38 min ago; Binance: live order book, 9 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 HTX live order book, 38 min ago	8.67 bp	24.3 bp −$24	2800.5 bp −$28.0K	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.40 bp	10.5 bp −$10	21.6 bp −$216	83.8 bp −$8,385	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	−0.1760%	1h	0.1247	−0.320%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0898% / S +0.0202%	1h	0.1250	−0.050%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0549%	1h	0.1250	−0.080%	$32K	$154K	25x	as long as short
Orderly PERP_OP_USDC	−0.0055%	8h	0.1251	0.000%	$12K	$236K	10x	as long as short
Kraken Futures PF_OPUSD	−0.0034%	1h	0.1251	+0.009%	$751K	$666K	20x	as long as short
dYdX OP-USD	0.0000%	1h	0.1251	−0.018%	$39K	$522	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1251	−0.006%	—	—	150x	as long as short
Variational Omni OP	+0.0016%	8h	0.1255	+0.314%	$222K	$47K	—	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1253	+0.160%	$24K	$65K	50x	as long as short
KuCoin OPUSDTM	+0.0070%	8h	0.1250	−0.080%	$2.8M	$6.2M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1252	+0.064%	$274K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1252	+0.064%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1251	+0.022%	$205K	$210K	10x	as long as short
Binance OPUSDTshort	+0.0100%	8h	0.1251	−0.032%	$19.7M	$67.1M	75x
Bybit OPUSDT	+0.0100%	8h	0.1250	−0.048%	$18.3M	$26.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1251	−0.008%	$6.0M	$29.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1251	+0.016%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1251	−0.008%	$22.4M	$8.0M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1250	−0.080%	$5.7M	$6.9M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1251	−0.024%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1250	−0.072%	$115K	$220K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1254	+0.215%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1253	+0.166%	$310K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1255	+0.320%	$43K	$697K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1250	−0.080%	$206	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1251	long leg	$167K	$255K	50x
Extended OP-USD	+0.0104%	1h	0.1250	−0.066%	$100K	$508K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1250	−0.067%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1254	+0.208%	$990K	$324K	75x	as long as short
Reya OPRUSDPERP	+0.0444%	1h	0.1249	−0.125%	$695	—	20x	as long as short