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: HTX against KuCoin−0.118%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1141.136% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.298%+$30 · spread now −0.118%, 7d avg +0.036%

Together, before fees+0.300%+$30 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: HTX is 0.154% cheaper against KuCoin than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1271	0.0100	pay 0.0100% / 8h	7h 53m	$2.9M	$7.3M	75x
Short	HTX OP-USDT	0.1270	0.0100	get 0.0100% / 8h	7h 53m	$175K	$234K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → +0.036%: −$15.42
Slippage, 4 orders: −$89.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$129.05
Costs to cover: 1.136%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; HTX: live order book, 18 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, 4 min ago	7.87 bp	42.2 bp −$42	80.7 bp −$807	doesn't fit	doesn't fit
Sell HTX live order book, 18 min ago	7.85 bp	31.2 bp −$31	doesn't fit	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	−0.1656%	1h	0.1265	−0.472%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1271	−0.001%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1265	−0.472%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0102%	8h	0.1268	−0.228%	$18.5M	$26.2M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1271	−0.016%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1271	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1271	−0.017%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0059%	8h	0.1270	−0.079%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0063%	8h	0.1271	−0.033%	$232K	$47K	—	as long as short
Lighter OP	+0.0096%	1h	0.1272	+0.063%	$288K	$939K	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	0.1272	+0.110%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1272	+0.068%	$212K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1271	−0.035%	$20.5M	$62.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1269	−0.173%	$6.0M	$30.1M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1272	+0.063%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1270	−0.087%	$20.3M	$7.3M	300x	as long as short
KuCoin OPUSDTMlong	+0.0100%	8h	0.1271	long leg	$2.9M	$7.3M	75x
Bitget OPUSDT	+0.0100%	8h	0.1272	+0.079%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1271	0.000%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1271	+0.008%	$123K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1271	−0.003%	$9K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1271	−0.033%	$322K	$4.8M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1272	+0.079%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1270	−0.110%	$186	$6K	5x	as long as short
HTX OP-USDTshort	+0.0100%	8h	0.1270	−0.118%	$175K	$234K	50x
Extended OP-USD	+0.0104%	1h	0.1271	+0.015%	$102K	$182K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1274	+0.224%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1265	−0.441%	$1.0M	$280K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0382%	1h	0.1271	−0.036%	$801K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1269	−0.127%	$706	—	20x	as long as short