OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0081%/8h= +8.9% APRnext payment +$0.40 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bitget−0.286%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$980.983% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.324%+$32 · spread now −0.286%, 7d avg +0.046%

Together, before fees+0.323%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.331% cheaper against Bitget than usual: you would sell low and buy high (spread −0.286% now, against its 7-day average of +0.046%). If the spread goes back, that is −$33 on $10k: about 14 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPNUSDT	0.05188	0.0100	pay 0.0050% / 4h	2h 09m	$595K	$187K	20x
Short	Binance OPNUSDT	0.05173	0.0181	get 0.0090% / 4h	2h 09m	$3.6M	$5.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now −0.286%Rate

Funding earned: $16.99
Price spread: −0.286% → +0.046%: −$33.14
Slippage, 4 orders: −$76.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$114.44
Costs to cover: 0.983%
Break-even: 54.1 days

Slippage from Bitget: live order book, 55 min ago; Binance: live order book, 14 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 Bitget live order book, 55 min ago	5.79 bp	30.0 bp −$30	138.8 bp −$1,388	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	1.92 bp	17.8 bp −$18	99.8 bp −$998	doesn't fit	doesn't fit

OPN on 14 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
Deribit OPN_USDC-PERPETUAL	0.0000%	1h	0.05179	−0.175%	—	—	10x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05182	−0.116%	$718K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05172	−0.308%	$802K	$3.2M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05186	−0.039%	$140K	$79K	25x	as long as short
Bitget OPNUSDTlong	+0.0100%	4h	0.05188	long leg	$595K	$187K	20x
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05180	−0.154%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05290	+1.966%	$1K	$1.4M	20x	as long as short
Binance OPNUSDTshort	+0.0181%	4h	0.05173	−0.286%	$3.6M	$5.8M	25x
MEXC OPN_USDT	+0.0186%	4h	0.05174	−0.270%	$817K	$344K	50x	as long as short
BingX OPN-USDT	+0.0190%	4h	0.05170	−0.347%	—	$1.6M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0266%	4h	0.05185	−0.061%	$7K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05237	+0.946%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1302%	4h	0.05194	+0.116%	$208K	$160K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2662%	1h	0.05118	−1.343%	$2K	$4K	20x	as long as short