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 0.000%

Price spread now: KuCoin against HTX−0.117%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on HTX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 3 days (all we have)−0.132%−$13 · spread now −0.117%, 7d avg −0.035%

Together, before fees−0.164%−$16 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 0.082% cheaper against HTX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1280	0.0100	pay 0.0100% / 8h	1h 10m	$177K	$232K	50x
Short	KuCoin OPUSDTM	0.1278	0.0100	get 0.0100% / 8h	1h 10m	$2.9M	$7.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → −0.035%: −$8.19
Slippage, 4 orders: −$70.62
Fee HTX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$102.81
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from HTX: live order book, 6 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 HTX live order book, 6 min ago	5.85 bp	15.2 bp −$15	2650.7 bp −$26.5K	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.90 bp	21.9 bp −$22	72.6 bp −$726	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	0.1274	−0.430%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1279	−0.005%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1280	+0.039%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1280	+0.047%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	+0.039%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	+0.039%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1279	−0.039%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0063%	8h	0.1280	+0.022%	$233K	$53K	—	as long as short
Lighter OP	+0.0096%	1h	0.1281	+0.117%	$290K	$923K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1281	+0.086%	$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	0.1280	+0.051%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1279	−0.003%	$20.8M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1279	−0.039%	$18.8M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1279	−0.008%	$6.0M	$30.2M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	+0.031%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1280	+0.008%	$20.3M	$7.2M	300x	as long as short
KuCoin OPUSDTMshort	+0.0100%	8h	0.1278	−0.117%	$2.9M	$7.5M	75x
Bitget OPUSDT	+0.0100%	8h	0.1280	+0.039%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1280	+0.016%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.016%	$125K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1279	−0.011%	$9K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	−0.007%	$320K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1280	+0.039%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1280	+0.008%	$178	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1280	long leg	$177K	$232K	50x
Extended OP-USD	+0.0104%	1h	0.1279	−0.040%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1279	−0.052%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1280	+0.078%	$1.0M	$299K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1281	+0.124%	$801K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1278	−0.079%	$711	—	20x	as long as short