Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against BingX+0.057%7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$940.941% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 4 days (all we have)−0.272%−$27 · spread now +0.057%, 7d avg −0.061%

Together, before fees−0.418%−$42 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: Bitget is 0.119% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OPN-USDT	0.05223	0.0100	pay 0.0050% / 4h	3h 33m	—	$1.7M	—
Short	Bitget OPNUSDT	0.05226	0.0100	get 0.0050% / 4h	3h 33m	$604K	$185K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BingX. 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 BingXbpFee BitgetbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → −0.061%: $11.89
Slippage, 4 orders: −$72.07
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$82.19
Costs to cover: 0.941%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Bitget: live order book, 17 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 BingX live order book, 13 min ago	3.82 bp	10.0 bp −$10	20.7 bp −$207	doesn't fit	doesn't fit
Sell Bitget live order book, 17 min ago	3.83 bp	37.8 bp −$38	164.4 bp −$1,644	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
Kraken Futures PF_OPNUSD	−0.2524%	1h	0.05158	−1.246%	$2K	$4K	20x	as long as short
Deribit OPN_USDC-PERPETUAL	0.0000%	1h	0.05217	−0.119%	—	—	10x	as long as short
BloFin OPN-USDT	+0.0082%	4h	0.05230	+0.134%	$184K	$4K	50x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05222	−0.019%	$3.6M	$6.2M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05223	0.000%	$723K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05226	+0.057%	$808K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05220	−0.057%	$851K	$329K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05223	0.000%	$144K	$67K	25x	as long as short
Bitget OPNUSDTshort	+0.0100%	4h	0.05226	+0.057%	$604K	$185K	20x
BingX OPN-USDTlong	+0.0100%	4h	0.05223	long leg	—	$1.7M	—

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	0.05210	−0.249%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05320	+1.857%	$2K	$1.4M	20x	as long as short
Aster OPNUSDT	+0.0125%	4h	0.05224	+0.027%	$8K	$15K	5x	as long as short
Gate OPN_USDT	+0.0544%	4h	0.05227	+0.077%	$211K	$172K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1448%	1h	0.05248	+0.488%	$14K	$6K	50x	as long as short