Funding arb · Price arb /

OPG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.2060%/8h= −225.6% APRpaid last 24h −0.464%

Price spread now: OKX against Coinbase International−0.810%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 OKX

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 OKX is 0.810% cheaper against Coinbase International than usual: you would sell low and buy high (−$81 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	0.1333	0.2160	pay 0.0270% / 1h	55m 08s	$33K	$32K	50x
Short	OKX OPG-USDT-SWAP	0.1323	0.0100	get 0.0050% / 4h	3h 55m	$547K	$13.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.810%Rate

Funding earned: −$432.6
Price spread: −0.810% → 0.000%: −$80.99
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$533.59
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	7.07 bp	41.9 bp −$42	236.3 bp −$2,363	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
Gate OPG_USDT	−0.0264%	4h	0.1326	−0.562%	$322K	$889K	20x	as long as short
Binance OPGUSDT	+0.0100%	4h	0.1323	−0.787%	$6.3M	$35.4M	20x	as long as short
Bybit OPGUSDT	+0.0100%	4h	0.1321	−0.945%	$3.2M	$10.9M	20x	as long as short
OKX OPG-USDT-SWAPshort	+0.0100%	4h	0.1323	−0.810%	$547K	$13.6M	20x
MEXC OPG_USDT	+0.0100%	4h	0.1329	−0.337%	$478K	$769K	20x	as long as short
KuCoin OPGUSDTM	+0.0100%	4h	0.1322	−0.862%	$649K	$3.1M	20x	as long as short
Bitget OPGUSDT	+0.0100%	4h	0.1322	−0.862%	$861K	$3.1M	20x	as long as short
BingX OPG-USDT	+0.0100%	4h	0.1322	−0.862%	—	$1.9M	—	as long as short
Variational Omni OPG	+0.0100%	4h	0.1337	+0.294%	$287K	$498K	—	as long as short
Extended OPG-USD	+0.0104%	1h	0.1323	−0.815%	$4K	$95K	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	+0.0129%	4h	0.1346	+0.937%	$228K	$76K	20x	as long as short
Aster OPGUSDT	+0.0259%	4h	0.1327	−0.461%	$438K	$165K	5x	as long as short
Coinbase International OPG-PERP-INTXlong	+0.2160%	1h	0.1333	long leg	$33K	$32K	50x