Funding arb · Price arb /

OPG

all OPG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.2724%/8h= −298.3% APRpaid last 24h −0.546%

Price spread now: Bybit against Coinbase International−2.032%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 Bybit

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 −$82 a day on $10k at the current rate, and Bybit is 2.032% cheaper against Coinbase International than usual: you would sell low and buy high (−$203 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	0.1360	0.2824	pay 0.0353% / 1h	42m 43s	$33K	$29K	50x
Short	Bybit OPGUSDT	0.1333	0.0100	get 0.0050% / 4h	1h 42m	$3.2M	$10.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −2.032%Rate

Funding earned: −$572.04
Price spread: −2.032% → 0.000%: −$203.21
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$796.25
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Bybit: 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 Bybit live order book, 5 min ago	5.58 bp	70.6 bp −$71	415.1 bp −$4,151	doesn't fit	doesn't fit

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
Aster OPGUSDT	+0.0100%	4h	0.1338	−1.617%	$441K	$160K	5x	as long as short
Binance OPGUSDT	+0.0100%	4h	0.1332	−2.048%	$6.2M	$31.9M	20x	as long as short
Bybit OPGUSDTshort	+0.0100%	4h	0.1333	−2.032%	$3.2M	$10.1M	20x
OKX OPG-USDT-SWAP	+0.0100%	4h	0.1333	−1.966%	$564K	$13.3M	20x	as long as short
Gate OPG_USDT	+0.0100%	4h	0.1333	−1.995%	$327K	$776K	20x	as long as short
MEXC OPG_USDT	+0.0100%	4h	0.1332	−2.069%	$470K	$710K	20x	as long as short
KuCoin OPGUSDTM	+0.0100%	4h	0.1333	−2.003%	$636K	$2.9M	20x	as long as short
Bitget OPGUSDT	+0.0100%	4h	0.1333	−1.995%	$857K	$2.9M	20x	as long as short
BingX OPG-USDT	+0.0100%	4h	0.1333	−1.995%	—	$1.9M	—	as long as short
Variational Omni OPG	+0.0100%	4h	0.1330	−2.215%	$282K	$431K	—	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	0.1333	−2.018%	$2K	$212K	5x	as long as short
BloFin OPG-USDT	+0.0125%	4h	0.1337	−1.701%	$220K	$72K	20x	as long as short
Coinbase International OPG-PERP-INTXlong	+0.2824%	1h	0.1360	long leg	$33K	$29K	50x