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 +0.025%

Price spread now: Bitget against MEXC+0.047%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.047%, 7d avg −0.027%

Together, before fees0.000%$0 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 0.075% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1266	0.0100	pay 0.0100% / 8h	7h 42m	$20.2M	$7.3M	300x
Short	Bitget OPUSDT	0.1267	0.0100	get 0.0100% / 8h	7h 42m	$6.0M	$6.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → −0.027%: $7.47
Slippage, 4 orders: −$25.11
Fee MEXC: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.64
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bitget: live order book, 1 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 MEXC live order book, 1 min ago	0.79 bp	3.8 bp −$4	21.9 bp −$219	69.9 bp −$6,995	113.5 bp −$56.7K
Sell Bitget live order book, 1 min ago	3.95 bp	13.2 bp −$13	28.4 bp −$284	102.4 bp −$10.2K	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	0.1261	−0.426%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1266	−0.023%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0539%	1h	0.1266	−0.032%	$42K	$171K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.347%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0098%	8h	0.1266	−0.055%	$18.4M	$26.0M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1266	−0.016%	$39K	$519	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1266	−0.032%	—	—	150x	as long as short
Variational Omni OP	+0.0052%	8h	0.1266	−0.027%	$231K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0057%	8h	0.1265	−0.111%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1268	+0.087%	$284K	$947K	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	0.1267	+0.024%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1266	−0.015%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1267	+0.024%	$20.5M	$62.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1265	−0.071%	$6.1M	$30.0M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1267	+0.024%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDTlong	+0.0100%	8h	0.1266	long leg	$20.2M	$7.3M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1266	−0.032%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDTshort	+0.0100%	8h	0.1267	+0.047%	$6.0M	$6.4M	75x
BingX OP-USDC	+0.0100%	8h	0.1266	−0.032%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1266	−0.055%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1267	+0.063%	$4K	$392K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1268	+0.118%	$308K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1267	+0.047%	$43K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1266	−0.008%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1266	−0.024%	$175K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1266	−0.029%	$101K	$304K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1267	+0.008%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1266	−0.047%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0383%	1h	0.1267	+0.082%	$800K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1265	−0.138%	$703	—	20x	as long as short