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 −0.031%

Price spread now: Gate against KuCoin+0.063%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1131.133% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.063%, 7d avg +0.021%

Together, before fees−0.190%−$19 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: Gate is 0.042% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1277	0.0100	pay 0.0100% / 8h	1h 22m	$2.9M	$7.5M	75x
Short	Gate OP_USDT	0.1278	0.0100	get 0.0100% / 8h	1h 22m	$1.9M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.063%Rate

Funding earned: $0
Price spread: +0.063% → +0.021%: $4.21
Slippage, 4 orders: −$86.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$109.11
Costs to cover: 1.133%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Gate: live order book, 5 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, 1 min ago	7.84 bp	34.0 bp −$34	85.7 bp −$857	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.75 bp	26.4 bp −$26	61.0 bp −$610	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	0.1266	−0.861%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1277	+0.030%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1269	−0.626%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1277	−0.012%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1276	−0.078%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1278	+0.060%	—	—	150x	as long as short
Variational Omni OP	+0.0047%	8h	0.1273	−0.345%	$233K	$52K	—	as long as short
Orderly PERP_OP_USDC	+0.0058%	8h	0.1277	0.000%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1277	+0.008%	$277K	$906K	15x	as long as short
OKX OP-USDT-SWAP	+0.0098%	8h	0.1277	+0.008%	$6.0M	$30.2M	50x	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	0.1278	+0.110%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1278	+0.052%	$213K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1277	+0.008%	$20.8M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1277	−0.023%	$18.8M	$25.4M	75x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1278	+0.063%	$1.9M	$1.5M	50x
MEXC OP_USDT	+0.0100%	8h	0.1277	0.000%	$20.1M	$7.1M	300x	as long as short
KuCoin OPUSDTMlong	+0.0100%	8h	0.1277	long leg	$2.9M	$7.5M	75x
Bitget OPUSDT	+0.0100%	8h	0.1277	0.000%	$6.1M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1277	0.000%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1276	−0.070%	$127K	$190K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1275	−0.151%	$11K	$380K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1276	−0.078%	$319K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1276	−0.078%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1276	−0.110%	$176	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1278	+0.047%	$177K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1277	−0.027%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1277	−0.013%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1276	−0.102%	$1.0M	$287K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1277	+0.038%	$798K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1277	−0.035%	$710	—	20x	as long as short