Funding you earn now, next payment 04:00 UTC+0.0682%/8h= +74.7% APRnext payment +$3.41 per $10,000 · paid last 24h +0.055%
Price spread now: Gate against BingX−0.019%7-day average +0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$101as in the Price arb table
costs, in and out, $10k−$930.926% of the position
Funding, last 7 days+0.042%+$4 on $10k
+Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.019%, 7d avg +0.067%
=Funding pays, the price is against you. Gate is 0.086% cheaper against BingX than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.067%). If the spread goes back, that is −$9 on $10k: about 10 hours of funding at the current rate (+$20 a day). At the pace of the last 7 days (+0.042% in total) that is about 14 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.41 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX OPN-USDT | 0.05260 | 0.0226 | pay 0.0113% / 4h | 31m 21s | — | $1.7M | — |
| Short | Gate OPN_USDT | 0.05259 | 0.0908 | get 0.0454% / 4h | 31m 21s | $212K | $170K | 50x |
BingX OPN-USDT
Gate OPN_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $143.3
- Price spread: −0.019% → +0.067%
- −$8.62
- Slippage, 4 orders
- −$67.61
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- $42.07
- Costs to cover
- 0.926%
- Break-even
- 4.9 days
Slippage from BingX: live order book, 16 min ago; Gate: live order book, 20 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, 16 min ago | 4.79 bp | 10.7 bp −$11 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Gate live order book, 20 min ago | 6.72 bp | 36.4 bp −$36 | 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 | −0.2672% | 1h | 0.05245 | −0.287% | $2K | $4K | 20x | as long as short |
| BloFin OPN-USDT | +0.0050% | 4h | 0.05249 | −0.209% | $185K | $4K | 50x | as long as short |
| Binance OPNUSDT | +0.0100% | 4h | 0.05260 | −0.006% | $3.7M | $6.0M | 25x | as long as short |
| Bybit OPNUSDT | +0.0100% | 4h | 0.05258 | −0.038% | $730K | $2.9M | 20x | as long as short |
| MEXC OPN_USDT | +0.0100% | 4h | 0.05264 | +0.076% | $899K | $319K | 50x | as long as short |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05256 | −0.076% | $145K | $67K | 25x | as long as short |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05262 | +0.038% | $608K | $185K | 20x | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05250 | −0.190% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05370 | +2.091% | $2K | $1.4M | 20x | as long as short |
| Aster OPNUSDT | +0.0144% | 4h | 0.05256 | −0.076% | $8K | $14K | 5x | as long as short |
Kraken Futures PF_OPNUSD
BloFin OPN-USDT
Binance OPNUSDT
Bybit OPNUSDT
MEXC OPN_USDT
KuCoin OPNUSDTM
Bitget OPNUSDT
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
Aster OPNUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX OPN-USDT-SWAP | +0.0214% | 4h | 0.05263 | +0.057% | $814K | $3.1M | 20x | as long as short |
| BingX OPN-USDTlong | +0.0226% | 4h | 0.05260 | long leg | — | $1.7M | — | |
| Deribit OPN_USDC-PERPETUAL | +0.0550% | 1h | 0.05253 | −0.131% | — | — | 10x | as long as short |
| Gate OPN_USDTshort | +0.0908% | 4h | 0.05259 | −0.019% | $212K | $170K | 50x | |
| Coinbase International OPN-PERP-INTX | +0.1664% | 1h | 0.05260 | −0.010% | $14K | $5K | 50x | as long as short |
OKX OPN-USDT-SWAP
Deribit OPN_USDC-PERPETUAL
Coinbase International OPN-PERP-INTX