Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h —

Price spread now: Deribit against Aster−0.037%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days—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

Funding pays, the price is against you. Deribit is 0.037% cheaper against Aster than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster OPNUSDT	0.05163	0.0100	pay 0.0050% / 4h	2h 41m	$7K	$15K	5x
Short	Deribit OPN_USDC-PERPETUAL	0.05161	0.0332	get 0.0041% / 1h	41m 27s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.037%Rate

Funding earned: $48.64
Price spread: −0.037% → 0.000%: −$3.73
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $29.91
Costs to cover: 0.150%
Break-even: 2.7 days

Slippage unknown: Aster: no order-book sample; Deribit: 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 Deribit no order-book sample	—	—	—	—	—

Aster and Deribit: 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	−0.2068%	1h	0.05139	−0.467%	$2K	$4K	20x	as long as short
Aster OPNUSDTlong	+0.0100%	4h	0.05163	long leg	$7K	$15K	5x
Binance OPNUSDT	+0.0100%	4h	0.05157	−0.115%	$3.6M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05156	−0.134%	$703K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05164	+0.021%	$799K	$3.1M	20x	as long as short
Gate OPN_USDT	+0.0100%	4h	0.05170	+0.137%	$209K	$168K	50x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05153	−0.192%	$830K	$328K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05158	−0.095%	$143K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05160	−0.057%	$596K	$184K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05160	−0.057%	—	$1.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05160	−0.057%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05270	+2.074%	$1K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0107%	4h	0.05160	−0.057%	$180K	$4K	50x	as long as short
Deribit OPN_USDC-PERPETUALshort	+0.0332%	1h	0.05161	−0.037%	—	—	10x
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05257	+1.818%	$14K	$6K	50x	as long as short