OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0039%/8h= +4.2% APRnext payment +$0.19 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bitget+0.132%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1211.211% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.132%, 7d avg +0.073%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.060% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPNUSDT	0.05295	0.0100	pay 0.0050% / 4h	1h 59m	$610K	$172K	20x
Short	OKX OPN-USDT-SWAP	0.05302	0.0139	get 0.0069% / 4h	1h 59m	$827K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.132%Rate

Funding earned: $8.13
Price spread: +0.132% → +0.073%: $5.95
Slippage, 4 orders: −$99.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$106.99
Costs to cover: 1.211%
Break-even: 99.1 days

Slippage from Bitget: live order book, 45 min ago; OKX: live order book, 3 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, 45 min ago	8.71 bp	37.2 bp −$37	168.9 bp −$1,689	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.83 bp	28.3 bp −$28	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	−0.2011%	1h	0.05284	−0.210%	$2K	$4K	20x	as long as short
BloFin OPN-USDT	+0.0094%	4h	0.05305	+0.189%	$182K	$5K	50x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05290	−0.096%	$3.8M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05294	−0.019%	$749K	$3.0M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05289	−0.113%	$850K	$332K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05297	+0.038%	$155K	$64K	25x	as long as short
Bitget OPNUSDTlong	+0.0100%	4h	0.05295	long leg	$610K	$172K	20x
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05290	−0.094%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05410	+2.172%	$1K	$1.4M	20x	as long as short
Aster OPNUSDT	+0.0105%	4h	0.05293	−0.031%	$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	0.05292	−0.057%	—	$1.7M	—	as long as short
OKX OPN-USDT-SWAPshort	+0.0139%	4h	0.05302	+0.132%	$827K	$3.1M	20x
Deribit OPN_USDC-PERPETUAL	+0.0298%	1h	0.05292	−0.062%	$103	$101	10x	as long as short
Gate OPN_USDT	+0.0828%	4h	0.05298	+0.057%	$212K	$173K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05353	+1.095%	$14K	$6K	50x	as long as short