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: Bybit against BingX−0.058%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days+0.117%+$12 · spread now −0.058%, 7d avg +0.024%

Together, before fees+0.077%+$8 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: Bybit is 0.082% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OPN-USDT	0.05165	0.0100	pay 0.0050% / 4h	2h 42m	—	$1.7M	—
Short	Bybit OPNUSDT	0.05162	0.0100	get 0.0050% / 4h	2h 42m	$704K	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.024%: −$8.24
Slippage, 4 orders: −$38.79
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$68.03
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Bybit: live order book, 4 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, 10 min ago	3.85 bp	15.6 bp −$16	36.5 bp −$365	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.90 bp	18.9 bp −$19	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
Kraken Futures PF_OPNUSD	−0.2065%	1h	0.05146	−0.373%	$2K	$4K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05169	+0.084%	$7K	$15K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05166	+0.019%	$3.6M	$6.3M	25x	as long as short
Bybit OPNUSDTshort	+0.0100%	4h	0.05162	−0.058%	$704K	$3.0M	20x
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05168	+0.058%	$797K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05160	−0.097%	$831K	$328K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05166	+0.019%	$143K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05167	+0.039%	$597K	$184K	20x	as long as short
BingX OPN-USDTlong	+0.0100%	4h	0.05165	long leg	—	$1.7M	—
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05160	−0.097%	$3K	$5K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05270	+2.033%	$1K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0107%	4h	0.05160	−0.097%	$180K	$4K	50x	as long as short
Gate OPN_USDT	+0.0138%	4h	0.05170	+0.097%	$209K	$167K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0390%	1h	0.05162	−0.054%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05257	+1.777%	$14K	$6K	50x	as long as short