OP

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0264%/8h= +28.9% APRnext payment +$2.64 per $10,000 · paid last 24h +0.011%

Price spread now: OKX against MEXC−0.008%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days−0.054%−$5 · spread now −0.008%, 7d avg −0.032%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and OKX is 0.024% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.032%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.012% in total (about -0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.64 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1238	−0.0164	get 0.0164% / 8h	4h 11m	$21.7M	$7.2M	300x
Short	OKX OP-USDT-SWAP	0.1238	0.0100	get 0.0100% / 8h	4h 11m	$6.0M	$26.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $55.44
Price spread: −0.008% → −0.032%: $2.41
Slippage, 4 orders: −$20.25
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $27.6
Costs to cover: 0.302%
Break-even: 3.5 days

Slippage from MEXC: live order book, 1 min ago; OKX: live order book, 5 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	0.81 bp	3.7 bp −$4	11.9 bp −$119	58.3 bp −$5,829	113.5 bp −$56.8K
Sell OKX live order book, 5 min ago	0.40 bp	10.9 bp −$11	29.2 bp −$292	doesn't fit	doesn't fit

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
GMX OP/USD [OP-USDC]	L −0.1360% / S +0.0278%	1h	0.1239	+0.045%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0557%	1h	0.1238	−0.032%	$30K	$112K	25x	as long as short
Hyperliquid OP	−0.0451%	1h	0.1238	−0.040%	$3.8M	$4.1M	5x	as long as short
Extended OP-USD	−0.0168%	1h	0.1238	−0.030%	$102K	$669K	25x	as long as short
Binance OPUSDT	−0.0164%	8h	0.1238	−0.048%	$19.1M	$65.3M	75x	as long as short
MEXC OP_USDTlong	−0.0164%	8h	0.1238	long leg	$21.7M	$7.2M	300x
Orderly PERP_OP_USDC	−0.0096%	8h	0.1238	−0.032%	$12K	$229K	10x	as long as short
Gate OP_USDT	−0.0072%	8h	0.1239	+0.024%	$1.9M	$1.3M	50x	as long as short
Coinbase International OP-PERP-INTX	−0.0056%	1h	0.1242	+0.291%	$24K	$70K	50x	as long as short
Kraken Futures PF_OPUSD	−0.0053%	1h	0.1240	+0.116%	$735K	$720K	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OP-USDT	−0.0044%	8h	0.1237	−0.073%	$979K	$260K	75x	as long as short
GRVT OP_USDT_Perp	−0.0012%	8h	0.1240	+0.129%	$302K	$5.8M	10x	as long as short
KuCoin OPUSDTM	−0.0008%	8h	0.1237	−0.113%	$2.9M	$5.1M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1240	+0.108%	$38K	$522	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1239	+0.048%	—	—	150x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	0.1233	−0.436%	$34K	$67K	12x	as long as short
Aevo OP-PERP	+0.0040%	1h	0.1238	−0.006%	$3K	$1K	3x	as long as short
Variational Omni OP	+0.0044%	8h	0.1239	+0.056%	$220K	$44K	—	as long as short
Lighter OP	+0.0096%	1h	0.1239	+0.057%	$249K	$1.1M	15x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1239	+0.048%	$205K	$202K	10x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1237	−0.081%	$18.0M	$24.2M	75x	as long as short
OKX OP-USDT-SWAPshort	+0.0100%	8h	0.1238	−0.008%	$6.0M	$26.7M	50x
Bitget OPUSDT	+0.0100%	8h	0.1238	−0.032%	$5.8M	$6.6M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1238	−0.032%	—	$6.4M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1238	−0.048%	$109K	$221K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1240	+0.110%	$4K	$1.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1241	+0.210%	$43K	$684K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1239	+0.008%	$192	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1239	+0.008%	$168K	$264K	50x	as long as short
Reya OPRUSDPERP	+0.0448%	1h	0.1238	−0.067%	$688	—	20x	as long as short