Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1116%/8h= +122.2% APRpaid last 24h +0.403%

Price spread now: Coinbase International against Aster+0.216%7-day average — · you sell dearer than you buy

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

Long on Aster 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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Coinbase International is 0.216% dearer against Aster than usual: you sell high and buy low: +$22 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	Aster OPNUSDT	0.05228	0.0404	pay 0.0202% / 4h	1h 17m	$7K	$14K	5x
Short	Coinbase International OPN-PERP-INTX	0.05239	0.1520	get 0.0190% / 1h	17m 43s	$14K	$5K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.216%Rate

Funding earned: $234.32
Price spread: +0.216% → 0.000%: $21.61
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $237.93
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Aster: no order-book sample; 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 Aster no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Aster and 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.

OPN on 15 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
Kraken Futures PF_OPNUSD	−1.1616%	1h	0.05234	+0.119%	$2K	$4K	20x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0018%	1h	0.05234	+0.111%	—	—	10x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05247	+0.363%	$738K	$2.9M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05243	+0.287%	$141K	$66K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05242	+0.268%	$601K	$183K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	+0.038%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05330	+1.951%	$1K	$1.4M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0258%	4h	0.05247	+0.363%	$812K	$3.1M	20x	as long as short
BloFin OPN-USDT	+0.0265%	4h	0.05225	−0.057%	$182K	$4K	50x	as long as short
BingX OPN-USDT	+0.0298%	4h	0.05243	+0.287%	—	$1.6M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC OPN_USDT	+0.0314%	4h	0.05247	+0.363%	$835K	$339K	50x	as long as short
Binance OPNUSDT	+0.0315%	4h	0.05244	+0.306%	$3.6M	$5.8M	25x	as long as short
Aster OPNUSDTlong	+0.0404%	4h	0.05228	long leg	$7K	$14K	5x
Coinbase International OPN-PERP-INTXshort	+0.1520%	1h	0.05239	+0.216%	$14K	$5K	50x
Gate OPN_USDT	+0.1936%	4h	0.05246	+0.344%	$209K	$162K	50x	as long as short