Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against KuCoin+0.031%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.031% dearer against KuCoin than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1264	0.0100	pay 0.0100% / 8h	6h 03m	$2.9M	$6.8M	75x
Short	gTrade (Gains Network) OP/USD	0.1264	L +0.0004% / S −0.0004%	get 0.0000% / 1h	3m 21s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.031%Rate

Funding earned: −$20.17
Price spread: +0.031% → 0.000%: $3.09
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$39.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 5 min ago	3.97 bp	35.7 bp −$36	87.5 bp −$875	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.712%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	+0.003%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.187%	$25K	$74K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	+0.059%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1264	0.000%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1264	+0.031%	—	—	150x
Orderly PERP_OP_USDC	+0.0053%	8h	0.1264	0.000%	$6K	$46K	10x	as long as short
Variational Omni OP	+0.0054%	8h	0.1259	−0.362%	$223K	$50K	—	as long as short
OKX OP-USDT-SWAP	+0.0061%	8h	0.1264	0.000%	$6.1M	$29.3M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1266	+0.142%	$281K	$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	0.1265	+0.079%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1265	+0.104%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1264	+0.028%	$20.3M	$61.2M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1264	−0.016%	$18.4M	$25.5M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1265	+0.079%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1265	+0.040%	$20.7M	$7.5M	300x	as long as short
KuCoin OPUSDTMlong	+0.0100%	8h	0.1264	long leg	$2.9M	$6.8M	75x
Bitget OPUSDT	+0.0100%	8h	0.1264	0.000%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1264	+0.016%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	+0.024%	$122K	$199K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1260	−0.292%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1259	−0.428%	$310K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	−0.237%	$43K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1263	−0.087%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1264	+0.024%	$174K	$223K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1264	−0.004%	$101K	$392K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	+0.049%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1264	−0.003%	$703	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0461%	1h	0.1264	+0.005%	$798K	$586K	20x	as long as short