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 −0.474%

Price spread now: BingX against Coinbase International−3.801%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on BingX

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 against this trade now: funding costs −$62 a day on $10k at the current rate, and BingX is 3.801% cheaper against Coinbase International than usual: you would sell low and buy high (−$380 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPG-PERP-INTX	0.1349	0.2160	pay 0.0270% / 1h	11m 59s	$33K	$33K	50x
Short	BingX OPG-USDT	0.1298	0.0100	get 0.0050% / 4h	3h 11m	—	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now −3.801%Rate

Funding earned: −$432.6
Price spread: −3.801% → 0.000%: −$380.13
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$832.73
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; BingX: live order book, 5 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell BingX live order book, 5 min ago	7.69 bp	33.5 bp −$34	85.3 bp −$853	912.7 bp −$91.3K	1443.4 bp −$721.7K

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	+0.0079%	4h	0.1303	−3.431%	$223K	$73K	20x	as long as short
Binance OPGUSDT	+0.0100%	4h	0.1296	−3.949%	$6.1M	$35.8M	20x	as long as short
Bybit OPGUSDT	+0.0100%	4h	0.1295	−4.024%	$3.1M	$10.9M	20x	as long as short
OKX OPG-USDT-SWAP	+0.0100%	4h	0.1297	−3.905%	$564K	$13.4M	20x	as long as short
Gate OPG_USDT	+0.0100%	4h	0.1297	−3.875%	$315K	$896K	20x	as long as short
MEXC OPG_USDT	+0.0100%	4h	0.1295	−4.024%	$462K	$774K	20x	as long as short
KuCoin OPGUSDTM	+0.0100%	4h	0.1297	−3.890%	$632K	$3.1M	20x	as long as short
Bitget OPGUSDT	+0.0100%	4h	0.1297	−3.875%	$833K	$3.2M	20x	as long as short
BingX OPG-USDTshort	+0.0100%	4h	0.1298	−3.801%	—	$1.9M	—
Variational Omni OPG	+0.0100%	4h	0.1300	−3.618%	$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	0.1297	−3.908%	$5K	$105K	5x	as long as short
Aster OPGUSDT	+0.0137%	4h	0.1304	−3.373%	$430K	$165K	5x	as long as short
Coinbase International OPG-PERP-INTXlong	+0.2160%	1h	0.1349	long leg	$33K	$33K	50x