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 0.000%

Price spread now: Bitget against KuCoin+0.159%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days−0.143%−$14 · spread now +0.159%, 7d avg +0.019%

Together, before fees−0.141%−$14 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: Bitget is 0.140% dearer against KuCoin than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1259	0.0100	pay 0.0100% / 8h	6h 04m	$2.9M	$6.8M	75x
Short	Bitget OPUSDT	0.1261	0.0100	get 0.0100% / 8h	6h 04m	$5.9M	$6.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.019%: $14.02
Slippage, 4 orders: −$70.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.83
Costs to cover: 0.949%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bitget: 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 KuCoin live order book, 3 min ago	3.97 bp	35.7 bp −$36	87.5 bp −$875	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.96 bp	17.8 bp −$18	33.9 bp −$339	113.8 bp −$11.4K	doesn't fit

OP on 29 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	−0.1535%	1h	0.1255	−0.318%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1260	+0.079%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.589%	$25K	$74K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1260	+0.079%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1260	+0.079%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1260	+0.072%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1259	0.000%	$6K	$47K	10x	as long as short
Variational Omni OP	+0.0054%	8h	0.1259	+0.034%	$223K	$50K	—	as long as short
OKX OP-USDT-SWAP	+0.0061%	8h	0.1261	+0.151%	$6.1M	$29.4M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1261	+0.127%	$280K	$949K	15x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1262	+0.222%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1260	+0.067%	$210K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1261	+0.135%	$20.3M	$61.4M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1260	+0.103%	$18.3M	$25.6M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1261	+0.143%	$1.9M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1260	+0.087%	$20.6M	$7.5M	300x	as long as short
KuCoin OPUSDTMlong	+0.0100%	8h	0.1259	long leg	$2.9M	$6.8M	75x
Bitget OPUSDTshort	+0.0100%	8h	0.1261	+0.159%	$5.9M	$6.5M	75x
BingX OP-USDT	+0.0100%	8h	0.1260	+0.087%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1259	−0.016%	$121K	$199K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1260	+0.104%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	−0.197%	$309K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	+0.159%	$43K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1259	+0.024%	$180	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1260	+0.095%	$174K	$223K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1260	+0.094%	$101K	$392K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1260	+0.040%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1259	+0.024%	$700	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0463%	1h	0.1260	+0.094%	$796K	$587K	20x	as long as short