Funding arb · Price arb /

OPG

all OPG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.2540%/8h= −278.1% APRpaid last 24h −0.611%

Price spread now: MEXC against Coinbase International−3.286%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 MEXC

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 −$76 a day on $10k at the current rate, and MEXC is 3.286% cheaper against Coinbase International than usual: you would sell low and buy high (−$329 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	0.1400	0.2640	pay 0.0330% / 1h	10m 37s	$34K	$7K	50x
Short	MEXC OPG_USDT	0.1354	0.0100	get 0.0050% / 4h	3h 10m	$469K	$465K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −3.286%Rate

Funding earned: −$533.4
Price spread: −3.286% → 0.000%: −$328.57
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$875.97
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 9 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 MEXC live order book, 9 min ago	3.72 bp	15.5 bp −$16	63.4 bp −$634	340.8 bp −$34.1K	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
Binance OPGUSDT	+0.0100%	4h	0.1357	−3.065%	$6.3M	$18.0M	20x	as long as short
Bybit OPGUSDT	+0.0100%	4h	0.1357	−3.071%	$3.2M	$6.7M	20x	as long as short
OKX OPG-USDT-SWAP	+0.0100%	4h	0.1359	−2.957%	$582K	$7.6M	20x	as long as short
Gate OPG_USDT	+0.0100%	4h	0.1356	−3.143%	$313K	$391K	20x	as long as short
MEXC OPG_USDTshort	+0.0100%	4h	0.1354	−3.286%	$469K	$465K	20x
KuCoin OPGUSDTM	+0.0100%	4h	0.1354	−3.293%	$631K	$2.4M	20x	as long as short
Bitget OPGUSDT	+0.0100%	4h	0.1358	−3.000%	$882K	$2.0M	20x	as long as short
BingX OPG-USDT	+0.0100%	4h	0.1357	−3.071%	—	$1.8M	—	as long as short
Variational Omni OPG	+0.0100%	4h	0.1351	−3.498%	$278K	$235K	—	as long as short
Extended OPG-USD	+0.0104%	1h	0.1353	−3.334%	$4K	$217K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPG-USDT	+0.0136%	4h	0.1347	−3.786%	$224K	$51K	20x	as long as short
Aster OPGUSDT	+0.0350%	4h	0.1357	−3.093%	$455K	$115K	5x	as long as short
Coinbase International OPG-PERP-INTXlong	+0.2640%	1h	0.1400	long leg	$34K	$7K	50x