Funding arb · Price arb /

OPG

all OPG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2060%/8h= +225.6% APRpaid last 24h +0.508%

Price spread now: Coinbase International against Bybit+3.911%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$62 a day on $10k at the current rate, and Coinbase International is 3.911% dearer against Bybit than usual: you sell high and buy low: +$391 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPGUSDT	0.1298	0.0100	pay 0.0050% / 4h	3h 11m	$3.1M	$10.9M	20x
Short	Coinbase International OPG-PERP-INTX	0.1349	0.2160	get 0.0270% / 1h	11m 00s	$33K	$33K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +3.911%Rate

Funding earned: $432.6
Price spread: +3.911% → 0.000%: $391.14
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $802.74
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Coinbase International: 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 Bybit live order book, 2 min ago	5.00 bp	101.0 bp −$101	1433.1 bp −$14.3K	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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.

OPG on 13 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
BloFin OPG-USDT	+0.0059%	4h	0.1298	−0.039%	$222K	$73K	20x	as long as short
Binance OPGUSDT	+0.0100%	4h	0.1300	+0.116%	$6.1M	$35.8M	20x	as long as short
Bybit OPGUSDTlong	+0.0100%	4h	0.1298	long leg	$3.1M	$10.9M	20x
OKX OPG-USDT-SWAP	+0.0100%	4h	0.1301	+0.169%	$565K	$13.5M	20x	as long as short
Gate OPG_USDT	+0.0100%	4h	0.1298	−0.039%	$315K	$896K	20x	as long as short
MEXC OPG_USDT	+0.0100%	4h	0.1299	+0.039%	$463K	$774K	20x	as long as short
KuCoin OPGUSDTM	+0.0100%	4h	0.1299	+0.023%	$634K	$3.1M	20x	as long as short
Bitget OPGUSDT	+0.0100%	4h	0.1299	+0.039%	$825K	$3.2M	20x	as long as short
BingX OPG-USDT	+0.0100%	4h	0.1299	+0.039%	—	$1.9M	—	as long as short
Variational Omni OPG	+0.0100%	4h	0.1300	+0.124%	$280K	$498K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended OPG-USD	+0.0104%	1h	0.1300	+0.087%	$3K	$112K	5x	as long as short
Aster OPGUSDT	+0.0129%	4h	0.1305	+0.499%	$431K	$165K	5x	as long as short
Coinbase International OPG-PERP-INTXshort	+0.2160%	1h	0.1349	+3.911%	$33K	$33K	50x