Funding arb · Price arb /

OPN

all OPN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.2506%/8h= −274.5% APRpaid last 24h −0.756%

Price spread now: Kraken Futures against Aster−0.142%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$75 a day on $10k at the current rate, and Kraken Futures is 0.142% cheaper against Aster than usual: you would sell low and buy high (−$14 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	Aster OPNUSDT	0.05319	0.0105	pay 0.0052% / 4h	1h 58m	$8K	$16K	5x
Short	Kraken Futures PF_OPNUSD	0.05312	−0.2402	pay 0.0300% / 1h	58m 51s	$2K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$526.36
Price spread: −0.142% → 0.000%: −$14.22
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$558.58
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Kraken Futures: 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 Kraken Futures no order-book sample	—	—	—	—	—

Aster and Kraken Futures: 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_OPNUSDshort	−0.2402%	1h	0.05312	−0.142%	$2K	$4K	20x
BloFin OPN-USDT	+0.0042%	4h	0.05312	−0.136%	$182K	$5K	50x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05331	+0.222%	$3.8M	$6.4M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05327	+0.146%	$764K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05331	+0.222%	$856K	$318K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05329	+0.184%	$156K	$64K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05326	+0.128%	$613K	$172K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05320	+0.015%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05450	+2.459%	$1K	$1.4M	20x	as long as short
Aster OPNUSDTlong	+0.0105%	4h	0.05319	long leg	$8K	$16K	5x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX OPN-USDT	+0.0120%	4h	0.05331	+0.222%	—	$1.7M	—	as long as short
OKX OPN-USDT-SWAP	+0.0150%	4h	0.05332	+0.240%	$831K	$3.1M	20x	as long as short
Gate OPN_USDT	+0.0834%	4h	0.05336	+0.316%	$214K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1461%	1h	0.05329	+0.186%	$103	$101	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1984%	1h	0.05353	+0.635%	$14K	$6K	50x	as long as short