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 +0.027%

Price spread now: KuCoin against OKX+0.055%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 7 days−0.100%−$10 · spread now +0.055%, 7d avg −0.014%

Together, before fees−0.018%−$2 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: KuCoin is 0.070% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OP-USDT-SWAP	0.1263	0.0100	pay 0.0100% / 8h	7h 37m	$6.1M	$29.9M	50x
Short	KuCoin OPUSDTM	0.1264	0.0100	get 0.0100% / 8h	7h 37m	$2.9M	$7.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now +0.055%Rate

Funding earned: $0
Price spread: +0.055% → −0.014%: $6.99
Slippage, 4 orders: −$74.71
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$89.72
Costs to cover: 0.967%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; KuCoin: live order book, 10 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 OKX live order book, 1 min ago	0.40 bp	14.4 bp −$14	31.3 bp −$313	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	3.94 bp	31.4 bp −$31	71.5 bp −$715	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	−0.1656%	1h	0.1258	−0.420%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	+0.050%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.103%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0059%	8h	0.1263	−0.032%	$18.3M	$26.0M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	+0.111%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	+0.135%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	+0.036%	—	—	150x	as long as short
Variational Omni OP	+0.0049%	8h	0.1263	−0.063%	$230K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0056%	8h	0.1264	+0.055%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1265	+0.111%	$283K	$948K	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	0.1265	+0.150%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1264	+0.095%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1264	+0.079%	$20.5M	$61.9M	75x	as long as short
OKX OP-USDT-SWAPlong	+0.0100%	8h	0.1263	long leg	$6.1M	$29.9M	50x
Gate OP_USDT	+0.0100%	8h	0.1264	+0.063%	$1.9M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1264	+0.063%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTMshort	+0.0100%	8h	0.1264	+0.055%	$2.9M	$7.2M	75x
Bitget OPUSDT	+0.0100%	8h	0.1264	+0.055%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1265	+0.135%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	+0.047%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1264	+0.031%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1266	+0.198%	$311K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1264	+0.055%	$43K	$724K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1264	+0.055%	$183	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1263	−0.024%	$174K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1263	+0.011%	$104K	$356K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1264	+0.026%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	−0.095%	$1.0M	$270K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0384%	1h	0.1265	+0.140%	$798K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1263	−0.054%	$702	—	20x	as long as short