OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1794%/8h= +196.4% APRnext payment +$8.97 per $10,000 · paid last 24h +0.055%

Price spread now: Gate against Bitget+0.134%7-day average +0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1361.358% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)+0.296%+$30 · spread now +0.134%, 7d avg +0.128%

Together, before fees+0.485%+$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.128%, so right now this pair is about funding alone: +$54 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.188% in total (about 9.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$8.97 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	Bitget OPNUSDT	0.05223	0.0100	pay 0.0050% / 4h	1h 19m	$598K	$181K	20x
Short	Gate OPN_USDT	0.05230	0.1894	get 0.0947% / 4h	1h 19m	$209K	$161K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.134%Rate

Funding earned: $376.74
Price spread: +0.134% → +0.128%: $0.56
Slippage, 4 orders: −$108.81
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $241.49
Costs to cover: 1.358%
Break-even: 2.5 days

Slippage from Bitget: live order book, 41 min ago; Gate: live order book, 37 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, 41 min ago	5.78 bp	37.1 bp −$37	158.2 bp −$1,582	doesn't fit	doesn't fit
Sell Gate live order book, 37 min ago	4.78 bp	26.4 bp −$26	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	−1.1704%	1h	0.05195	−0.536%	$2K	$4K	20x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05229	+0.115%	$729K	$2.8M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05224	+0.019%	$141K	$66K	25x	as long as short
Bitget OPNUSDTlong	+0.0100%	4h	0.05223	long leg	$598K	$181K	20x
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	+0.134%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05330	+2.049%	$2K	$1.4M	20x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0133%	1h	0.05228	+0.100%	—	—	10x	as long as short
BingX OPN-USDT	+0.0222%	4h	0.05230	+0.134%	—	$1.7M	—	as long as short
OKX OPN-USDT-SWAP	+0.0252%	4h	0.05230	+0.134%	$808K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0270%	4h	0.05227	+0.077%	$832K	$339K	50x	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	+0.0282%	4h	0.05230	+0.134%	$183K	$4K	50x	as long as short
Binance OPNUSDT	+0.0297%	4h	0.05227	+0.080%	$3.6M	$5.8M	25x	as long as short
Aster OPNUSDT	+0.0375%	4h	0.05213	−0.187%	$7K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05239	+0.312%	$14K	$5K	50x	as long as short
Gate OPN_USDTshort	+0.1894%	4h	0.05230	+0.134%	$209K	$161K	50x