OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0061%/8h= −6.7% APRnext payment −$0.30 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance+0.018%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$517as in the Funding arb table

Net, price: spread back to 7d avg − costs−$526as in the Price arb table

costs, in and out, $10k−$5255.253% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 4 days (all we have)+0.155%+$16 · spread now +0.018%, 7d avg +0.028%

Together, before fees+0.243%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.087%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPNUSDT	0.05154	0.0161	pay 0.0080% / 4h	3h 38m	$3.6M	$5.8M	25x
Short	KuCoin OPNUSDTM	0.05155	0.0100	get 0.0050% / 4h	3h 38m	$137K	$79K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$12.77
Price spread: +0.018% → +0.028%: −$0.96
Slippage, 4 orders: −$503.26
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$538.99
Costs to cover: 5.253%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; KuCoin: live order book, 5 min ago.

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 Binance live order book, 15 min ago	1.93 bp	16.5 bp −$16	97.4 bp −$974	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	12.59 bp	289.1 bp −$289	doesn't fit	doesn't fit	doesn't fit

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
Bybit OPNUSDT	+0.0100%	4h	0.05155	+0.018%	$729K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05153	−0.021%	$812K	$3.5M	20x	as long as short
KuCoin OPNUSDTMshort	+0.0100%	4h	0.05155	+0.018%	$137K	$79K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05149	−0.098%	$591K	$187K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05150	−0.079%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05260	+2.055%	$2K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0118%	4h	0.05153	−0.021%	$181K	$6K	50x	as long as short
MEXC OPN_USDT	+0.0158%	4h	0.05154	−0.001%	$808K	$342K	50x	as long as short
BingX OPN-USDT	+0.0158%	4h	0.05153	−0.021%	—	$1.6M	—	as long as short
Binance OPNUSDTlong	+0.0161%	4h	0.05154	long leg	$3.6M	$5.8M	25x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit OPN_USDC-PERPETUAL	+0.0177%	1h	0.05149	−0.102%	—	—	10x	as long as short
Aster OPNUSDT	+0.0205%	4h	0.05154	+0.003%	$7K	$14K	5x	as long as short
Gate OPN_USDT	+0.0742%	4h	0.05161	+0.135%	$206K	$170K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1096%	1h	0.05263	+2.108%	$14K	$6K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2006%	1h	0.05183	+0.563%	$3K	$3K	20x	as long as short