Settings8H · net · $10k
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Funding arb · Price arb / Crypto

OP

All OP markets →
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
MEXCOP_USDT
0.1030+0.0013pay 0.0013% / 8h2h 10m$7.9M$7.1M300xLong MEXC
SHORT
BybitOPUSDT
0.1029−0.0009pay 0.0009% / 8h2h 10m$11.0M$11.2M75xShort Bybit
Price gap−0.049%
Funding gap−0.0022% /8h

Funding costs $1 a day on $10k at the current rate. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$3−0.0022% /8h now · paid +0.034% over the last 7D
Price+$1spread −0.049% now, avg −0.060% → +0.012% if it goes back
Costs−$250.249% of $10k · taker + slippage, in and out
Result−$20−0.20%no points

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.049%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

OP on 29 exchanges

lowest funding first

Before you open

2 ok · 1 to watch
  • OK: Fits both order books2.3 / 9.7 bp
    Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
  • Note: Margin at max leverage$33 + $133
    MEXC 300x, Bybit 75x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval8h / 8h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: −$0.67Long MEXC: 3 payments, −$0.39; short Bybit: 3 payments, −$0.28.
  • Note: Gap at its usual level−0.049% vs −0.060%
    The price leg adds little either way.
  • Note: Long leg is thinner$7.9M vs $11.0M OI
    Both legs are deep; MEXC is the smaller one.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCMEXC Yes · Bybit Yes
    KYC before trading since Feb 2026; unverified accounts see market data only.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0016%/8h × 21 periods+$3.35
Price spread−0.049% → −0.060% (7d avg)+$1.19
Slippage, 4 orderslive order books−$13.87
Fee MEXC bp × 2 orders$0.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k−$20.32
Costs to cover0.249%Break-even49.4 days
Slippage: MEXC: live order book, 6 min ago; Bybit: live order book, 6 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGMEXC0.482.3 bp−$28.0 bp−$8056.7 bp−$5,673113.4 bp−$56.7K
SELL · SHORTBybit0.489.7 bp−$1022.0 bp−$22082.0 bp−$8,198doesn’t fit

Closing costs about the same again.

Alert

OP news

posts that mention OP, from every exchange
10-14 12:02PhemexOther$OP got the first move. Now comes the harder part. Is capital rotating back into L2s, or is this a sharp bounce from beaten-down levels? Price is the headline. Follow-through is the test. Which side are you watching?👇 @Phemex_official on X ↗