Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.012%

Price spread now: gTrade (Gains Network) against MEXC+0.062%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.062% dearer against MEXC than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1250	0.0027	pay 0.0027% / 8h	6h 21m	$22.1M	$7.6M	300x
Short	gTrade (Gains Network) OP/USD	0.1251	L +0.0004% / S −0.0004%	get 0.0000% / 1h	21m 06s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.062%Rate

Funding earned: −$4.84
Price spread: +0.062% → 0.000%: $6.24
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$8.61
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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	1.60 bp	4.4 bp −$4	10.8 bp −$108	61.4 bp −$6,139	111.7 bp −$55.8K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

OP on 30 exchanges

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	−0.1934%	1h	0.1257	+0.528%	$35K	$67K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0886% / S +0.0200%	1h	0.1251	+0.053%	$13K	—	100x	as long as short
Orderly PERP_OP_USDC	−0.0058%	8h	0.1251	+0.048%	$12K	$233K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1252	+0.108%	$39K	$522	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1251	+0.048%	$31K	$128K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1251	+0.062%	—	—	150x
Extended OP-USD	+0.0024%	1h	0.1250	−0.068%	$102K	$579K	25x	as long as short
Binance OPUSDT	+0.0026%	8h	0.1250	−0.018%	$19.3M	$68.2M	75x	as long as short
MEXC OP_USDTlong	+0.0027%	8h	0.1250	long leg	$22.1M	$7.6M	300x
GRVT OP_USDT_Perp	+0.0028%	8h	0.1251	+0.019%	$305K	$5.5M	10x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni OP	+0.0068%	8h	0.1248	−0.176%	$221K	$46K	—	as long as short
KuCoin OPUSDTM	+0.0070%	8h	0.1250	−0.032%	$2.9M	$5.8M	75x	as long as short
Coinbase International OP-PERP-INTX	+0.0080%	1h	0.1248	−0.192%	$26K	$71K	50x	as long as short
Gate OP_USDT	+0.0087%	8h	0.1251	+0.040%	$2.0M	$1.4M	50x	as long as short
Aevo OP-PERP	+0.0088%	1h	0.1250	−0.059%	$3K	$1K	3x	as long as short
Lighter OP	+0.0096%	1h	0.1251	+0.048%	$265K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1250	+0.008%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1252	+0.107%	$207K	$224K	10x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1251	+0.016%	$18.1M	$25.9M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1250	−0.008%	$6.0M	$28.8M	50x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1250	−0.032%	$5.8M	$6.8M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1251	+0.032%	—	$6.5M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1250	−0.016%	$110K	$222K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1249	−0.123%	$4K	$1.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1248	−0.192%	$43K	$690K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1250	−0.032%	$201	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1252	+0.152%	$170K	$257K	50x	as long as short
BloFin OP-USDT	+0.0105%	8h	0.1248	−0.216%	$980K	$278K	75x	as long as short
Reya OPRUSDPERP	+0.0446%	1h	0.1252	+0.167%	$696	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0512%	1h	0.1251	+0.063%	$744K	$803K	20x	as long as short