OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.08 per $10,000 · paid last 24h +0.004%

Price spread now: BingX against BloFin−0.076%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$540.545% of the position

Long on BloFin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 4 days (all we have)−0.476%−$48 · spread now −0.076%, 7d avg −0.022%

Together, before fees−0.317%−$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.054% cheaper against BloFin than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.022%). If the spread goes back, that is −$5 on $10k: about 11 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.159% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPN-USDT	0.05263	0.0288	pay 0.0144% / 4h	1h 15m	$185K	$4K	50x
Short	BingX OPN-USDT	0.05259	0.0304	get 0.0152% / 4h	1h 15m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against BloFin. 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 BloFinbpFee BingXbpOrdersPrice spread, now −0.076%Rate

Funding earned: $3.51
Price spread: −0.076% → −0.022%: −$5.45
Slippage, 4 orders: −$32.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$56.43
Costs to cover: 0.545%
Break-even: 119.6 days

Slippage from BloFin: live order book, 22 min ago; BingX: live order book, 7 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 BloFin live order book, 22 min ago	5.77 bp	17.0 bp −$17	49.5 bp −$495	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	3.83 bp	10.4 bp −$10	22.6 bp −$226	982.1 bp −$98.2K	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	−1.1573%	1h	0.05254	−0.175%	$2K	$4K	20x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05268	+0.095%	$738K	$2.9M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05267	+0.076%	$145K	$68K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05258	−0.095%	$607K	$187K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05270	+0.133%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05370	+2.033%	$2K	$1.4M	20x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0263%	1h	0.05266	+0.067%	—	—	10x	as long as short
OKX OPN-USDT-SWAP	+0.0282%	4h	0.05265	+0.038%	$814K	$3.1M	20x	as long as short
BloFin OPN-USDTlong	+0.0288%	4h	0.05263	long leg	$185K	$4K	50x
BingX OPN-USDTshort	+0.0304%	4h	0.05259	−0.076%	—	$1.6M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC OPN_USDT	+0.0326%	4h	0.05269	+0.114%	$837K	$340K	50x	as long as short
Binance OPNUSDT	+0.0330%	4h	0.05266	+0.057%	$3.6M	$5.9M	25x	as long as short
Aster OPNUSDT	+0.0426%	4h	0.05259	−0.078%	$8K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05278	+0.291%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1922%	4h	0.05270	+0.133%	$208K	$165K	50x	as long as short