Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2388%/8h= +261.5% APRpaid last 24h +0.438%

Price spread now: Coinbase International against BingX+3.316%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$72 a day on $10k at the current rate, and Coinbase International is 3.316% dearer against BingX than usual: you sell high and buy low: +$332 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OPN-USDT	0.05193	0.0100	pay 0.0050% / 4h	23m 48s	—	$1.7M	—
Short	Coinbase International OPN-PERP-INTX	0.05365	0.2488	get 0.0311% / 1h	23m 48s	$14K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +3.316%Rate

Funding earned: $501.48
Price spread: +3.316% → 0.000%: $331.6
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $813.08
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 8 min ago; Coinbase International: 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 BingX live order book, 8 min ago	1.91 bp	10.9 bp −$11	64.5 bp −$645	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
Aster OPNUSDT	+0.0100%	4h	0.05194	+0.021%	$8K	$18K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05194	+0.019%	$3.7M	$6.6M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05193	0.000%	$739K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05195	+0.039%	$814K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05192	−0.019%	$838K	$324K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05199	+0.116%	$135K	$65K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05195	+0.039%	$594K	$177K	20x	as long as short
BingX OPN-USDTlong	+0.0100%	4h	0.05193	long leg	—	$1.7M	—
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05190	−0.058%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05310	+2.253%	$1K	$1.5M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPN-USDT	+0.0138%	4h	0.05227	+0.655%	$188K	$5K	50x	as long as short
Gate OPN_USDT	+0.0170%	4h	0.05200	+0.135%	$211K	$176K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1059%	1h	0.05201	+0.154%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTXshort	+0.2488%	1h	0.05365	+3.316%	$14K	$6K	50x
Kraken Futures PF_OPNUSD	+0.2895%	1h	0.05221	+0.542%	$4K	$6K	20x	as long as short