Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bitget−0.189%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.334%+$33 · spread now −0.189%, 7d avg +0.045%

Together, before fees+0.335%+$33 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: MEXC is 0.234% cheaper against Bitget than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPNUSDT	0.05303	0.0100	pay 0.0050% / 4h	1h 59m	$611K	$172K	20x
Short	MEXC OPN_USDT	0.05293	0.0100	get 0.0050% / 4h	1h 59m	$851K	$318K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.189%Rate

Funding earned: $0
Price spread: −0.189% → +0.045%: −$23.36
Slippage, 4 orders: −$63.99
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$103.35
Costs to cover: 0.800%
Break-even: never at this rate

Slippage from Bitget: live order book, 46 min ago; MEXC: live order book, 41 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, 46 min ago	8.71 bp	37.2 bp −$37	168.9 bp −$1,689	doesn't fit	doesn't fit
Sell MEXC live order book, 41 min ago	1.95 bp	5.4 bp −$5	36.2 bp −$362	720.8 bp −$72.1K	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	−0.2011%	1h	0.05284	−0.361%	$2K	$4K	20x	as long as short
BloFin OPN-USDT	+0.0094%	4h	0.05305	+0.038%	$182K	$5K	50x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05298	−0.095%	$3.8M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05312	+0.170%	$748K	$3.1M	20x	as long as short
MEXC OPN_USDTshort	+0.0100%	4h	0.05293	−0.189%	$851K	$318K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05296	−0.132%	$155K	$64K	25x	as long as short
Bitget OPNUSDTlong	+0.0100%	4h	0.05303	long leg	$611K	$172K	20x
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05290	−0.245%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05410	+2.018%	$1K	$1.4M	20x	as long as short
Aster OPNUSDT	+0.0105%	4h	0.05301	−0.036%	$8K	$16K	5x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX OPN-USDT	+0.0120%	4h	0.05307	+0.075%	—	$1.7M	—	as long as short
OKX OPN-USDT-SWAP	+0.0139%	4h	0.05318	+0.283%	$829K	$3.1M	20x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0298%	1h	0.05292	−0.213%	$103	$101	10x	as long as short
Gate OPN_USDT	+0.0834%	4h	0.05307	+0.075%	$212K	$170K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05353	+0.943%	$14K	$6K	50x	as long as short