Funding arb · Price arb /

OPN

all OPN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1328%/8h= +145.4% APRpaid last 24h +0.416%

Price spread now: Coinbase International against BloFin+0.098%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Coinbase International is 0.098% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPN-USDT	0.05227	0.0120	pay 0.0060% / 4h	3h 31m	$184K	$4K	50x
Short	Coinbase International OPN-PERP-INTX	0.05232	0.1448	get 0.0181% / 1h	31m 09s	$14K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.098%Rate

Funding earned: $278.8
Price spread: +0.098% → 0.000%: $9.76
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $266.56
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: BloFin: live order book, 59 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 59 min ago	3.81 bp	17.4 bp −$17	67.0 bp −$670	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2490%	1h	0.05229	+0.039%	$2K	$4K	20x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05241	+0.268%	$3.6M	$6.2M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05235	+0.153%	$725K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05246	+0.363%	$811K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05241	+0.268%	$854K	$329K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05236	+0.172%	$144K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05235	+0.153%	$605K	$185K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05243	+0.306%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	+0.057%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05340	+2.162%	$2K	$1.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0114%	4h	0.05228	+0.028%	$8K	$15K	5x	as long as short
BloFin OPN-USDTlong	+0.0120%	4h	0.05227	long leg	$184K	$4K	50x
Gate OPN_USDT	+0.0558%	4h	0.05237	+0.191%	$211K	$172K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0648%	1h	0.05238	+0.214%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTXshort	+0.1448%	1h	0.05232	+0.098%	$14K	$6K	50x