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% APRpaid last 24h +0.039%

Price spread now: edgeX against MEXC−0.127%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 3 days (all we have)+0.338%+$34 · spread now −0.127%, 7d avg −0.046%

Together, before fees+0.412%+ Points / potential airdropedgeX: Active · farm board+$41 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: edgeX is 0.081% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1282	0.0100	pay 0.0100% / 8h	1h 09m	$20.4M	$7.2M	300x
Short	edgeX OPUSDC	0.1281	0.0100	get 0.0050% / 4h	1h 09m	$10K	$382K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.127%Rate

Funding earned: $0
Price spread: −0.127% → −0.046%: −$8.14
Slippage, 4 orders: −$30.89
Fee MEXC: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$48.02
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; edgeX: live order book, 9 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, 4 min ago	0.39 bp	2.9 bp −$3	6.3 bp −$63	48.6 bp −$4,859	103.7 bp −$51.8K
Sell edgeX live order book, 9 min ago	7.81 bp	18.9 bp −$19	143.8 bp −$1,438	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	0.1274	−0.647%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1279	−0.223%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1280	−0.179%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1283	+0.041%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	−0.179%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	−0.179%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1279	−0.257%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0063%	8h	0.1280	−0.197%	$233K	$53K	—	as long as short
Lighter OP	+0.0096%	1h	0.1283	+0.070%	$290K	$923K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1283	+0.039%	$4.2M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1283	+0.035%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1282	+0.008%	$20.8M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1282	0.000%	$18.8M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1283	+0.031%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1282	−0.023%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDTlong	+0.0100%	8h	0.1282	long leg	$20.4M	$7.2M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1281	−0.101%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1283	+0.055%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1283	+0.055%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.234%	$125K	$192K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1281	−0.127%	$10K	$382K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	−0.226%	$320K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1280	−0.179%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1280	−0.211%	$178	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1280	−0.218%	$177K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1282	−0.009%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1279	−0.271%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1280	−0.140%	$1.0M	$299K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1281	−0.095%	$801K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1283	+0.050%	$713	—	20x	as long as short