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 −0.039%

Price spread now: MEXC against HTX−0.040%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$580.579% of the position

Long on HTX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 3 days (all we have)−0.299%−$30 · spread now −0.040%, 7d avg −0.018%

Together, before fees−0.374%−$37 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: MEXC 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 −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1255	0.0100	pay 0.0100% / 8h	2h 34m	$174K	$234K	50x
Short	MEXC OP_USDT	0.1254	0.0100	get 0.0100% / 8h	2h 34m	$20.1M	$7.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → −0.018%: −$2.14
Slippage, 4 orders: −$45.93
Fee HTX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$60.07
Costs to cover: 0.579%
Break-even: never at this rate

Slippage from HTX: live order book, 51 min ago; MEXC: 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, 51 min ago	13.96 bp	26.9 bp −$27	2881.6 bp −$28.8K	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.20 bp	3.2 bp −$3	11.0 bp −$110	65.4 bp −$6,542	125.1 bp −$62.6K

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	−0.1658%	1h	0.1246	−0.709%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1254	−0.041%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−0.948%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1254	−0.083%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1255	+0.008%	$41K	$172K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1255	−0.019%	—	—	150x	as long as short
Variational Omni OP	+0.0020%	8h	0.1252	−0.231%	$229K	$45K	—	as long as short
Orderly PERP_OP_USDC	+0.0031%	8h	0.1254	−0.072%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0096%	8h	0.1254	−0.064%	$5.8M	$29.5M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1255	+0.032%	$271K	$905K	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	0.1256	+0.072%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1255	+0.033%	$211K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1254	−0.072%	$20.3M	$62.6M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1254	−0.096%	$18.5M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1254	−0.056%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1254	−0.040%	$20.1M	$7.2M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1254	−0.072%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1255	+0.008%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1254	−0.080%	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1254	−0.064%	$127K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1252	−0.230%	$9K	$378K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1253	−0.120%	$310K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1254	−0.072%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1254	−0.048%	$174	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1255	long leg	$174K	$234K	50x
Extended OP-USD	+0.0104%	1h	0.1254	−0.075%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1255	+0.030%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0137%	1h	0.1255	+0.025%	$776K	$733K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1255	+0.008%	$998K	$280K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1255	−0.028%	$698	—	20x	as long as short