Funding arb · Price arb /

OP

all OP markets

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 −0.020%

Price spread now: GRVT against HTX−0.253%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$970.968% of the position

Long on HTX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.253%, 7d avg −0.082%

Together, before fees−0.030%+ Points / potential airdropGRVT: Active · farm board−$3 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: GRVT is 0.171% cheaper against HTX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1262	0.0100	pay 0.0100% / 8h	1h 55m	$175K	$232K	50x
Short	GRVT OP_USDT_Perp	0.1259	0.0100	get 0.0100% / 8h	1h 55m	$311K	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.253%Rate

Funding earned: $0
Price spread: −0.253% → −0.082%: −$17.07
Slippage, 4 orders: −$75.78
Fee HTX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$113.86
Costs to cover: 0.968%
Break-even: never at this rate

Slippage from HTX: live order book, 26 min ago; GRVT: 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 HTX live order book, 26 min ago	12.61 bp	25.2 bp −$25	2743.8 bp −$27.4K	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	3.98 bp	22.3 bp −$22	195.6 bp −$1,956	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	−0.1710%	1h	0.1254	−0.650%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	−0.087%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1243	−1.521%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1260	−0.160%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1261	−0.095%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1261	−0.098%	—	—	150x	as long as short
Variational Omni OP	+0.0039%	8h	0.1259	−0.250%	$231K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0046%	8h	0.1261	−0.095%	$6K	$50K	10x	as long as short
OKX OP-USDT-SWAP	+0.0095%	8h	0.1261	−0.127%	$5.9M	$29.8M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1262	−0.024%	$275K	$904K	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	0.1262	+0.008%	$4.1M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1261	−0.101%	$212K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1261	−0.102%	$20.5M	$62.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1260	−0.182%	$18.4M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1260	−0.174%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1261	−0.071%	$20.0M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1260	−0.174%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1261	−0.095%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1261	−0.095%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1260	−0.158%	$125K	$193K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1257	−0.434%	$11K	$377K	10x	as long as short
GRVT OP_USDT_Perpshort	+0.0100%	8h	0.1259	−0.253%	$311K	$5.1M	10x
ApeX Omni OPUSDT	+0.0100%	1h	0.1258	−0.333%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1261	−0.111%	$177	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1262	long leg	$175K	$232K	50x
Extended OP-USD	+0.0104%	1h	0.1260	−0.139%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1262	−0.051%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1261	−0.095%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0228%	1h	0.1261	−0.062%	$782K	$734K	20x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1260	−0.136%	$701	—	20x	as long as short