Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.078%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$443as in the Funding arb table

Net, price: spread back to 7d avg − costs−$430as in the Price arb table

costs, in and out, $10k−$4374.375% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.078%, 7d avg +0.006%

Together, before fees−0.138%−$14 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: KuCoin is 0.073% dearer against BingX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OPN-USDT	0.05108	0.0100	pay 0.0050% / 4h	1h 30m	—	$1.7M	—
Short	KuCoin OPNUSDTM	0.05112	0.0100	get 0.0050% / 4h	1h 30m	$122K	$56K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → +0.006%: $7.28
Slippage, 4 orders: −$415.45
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$430.18
Costs to cover: 4.375%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; KuCoin: live order book, 70 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, 9 min ago	0.97 bp	8.9 bp −$9	56.3 bp −$563	doesn't fit	doesn't fit
Sell KuCoin live order book, 70 min ago	14.45 bp	223.3 bp −$223	doesn't fit	doesn't fit	doesn't fit

OPN on 15 exchanges

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
BloFin OPN-USDT	+0.0081%	4h	0.05109	+0.020%	$182K	$7K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05110	+0.048%	$7K	$16K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05109	+0.020%	$3.6M	$6.4M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05106	−0.039%	$729K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05107	−0.020%	$780K	$2.9M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05108	0.000%	$815K	$308K	50x	as long as short
KuCoin OPNUSDTMshort	+0.0100%	4h	0.05112	+0.078%	$122K	$56K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05108	0.000%	$578K	$168K	20x	as long as short
BingX OPN-USDTlong	+0.0100%	4h	0.05108	long leg	—	$1.7M	—
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05110	+0.039%	$2K	$6K	10x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05220	+2.193%	$1K	$1.4M	20x	as long as short
Gate OPN_USDT	+0.0462%	4h	0.05110	+0.039%	$206K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0828%	1h	0.05110	+0.037%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1968%	1h	0.05233	+2.449%	$15K	$15K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.3037%	1h	0.05118	+0.191%	$2K	$7K	20x	as long as short