Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Binance+1.995%7-day average +2.087% · you sell dearer than you buy

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

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.158%+$16 · spread now +1.995%, 7d avg +2.087%

Together, before fees+0.245%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.092% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +2.087%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPNUSDT	0.05138	0.0100	pay 0.0050% / 4h	2h 48m	$3.6M	$5.8M	25x
Short	SunX OPN-USDT	0.05240	0.0100	get 0.0050% / 4h	2h 48m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.995%Rate

Funding earned: $0
Price spread: +1.995% → +2.087%: −$9.2
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$27.2
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 4 min ago; SunX: live order book, 6 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 Binance live order book, 4 min ago	1.95 bp	18.4 bp −$18	125.9 bp −$1,259	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	248.57 bp	doesn't fit	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
Binance OPNUSDTlong	+0.0100%	4h	0.05138	long leg	$3.6M	$5.8M	25x
Bybit OPNUSDT	+0.0100%	4h	0.05138	+0.009%	$716K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05132	−0.107%	$794K	$3.3M	20x	as long as short
Gate OPN_USDT	+0.0100%	4h	0.05136	−0.030%	$205K	$159K	50x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05135	−0.049%	$827K	$334K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05139	+0.029%	$138K	$80K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05131	−0.127%	$588K	$190K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05127	−0.205%	—	$1.6M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05130	−0.146%	$3K	$5K	10x	as long as short
SunX OPN-USDTshort	+0.0100%	4h	0.05240	+1.995%	$2K	$1.4M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPN-USDT	+0.0118%	4h	0.05133	−0.088%	$182K	$4K	50x	as long as short
Aster OPNUSDT	+0.0137%	4h	0.05138	+0.014%	$7K	$15K	5x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0725%	1h	0.05131	−0.117%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05160	+0.445%	$13K	$5K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2674%	1h	0.05095	−0.827%	$2K	$4K	20x	as long as short