OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.16 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BloFin−0.039%7-day average −0.005% · 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−$95as in the Price arb table

costs, in and out, $10k−$920.915% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now −0.039%, 7d avg −0.005%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.034% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.117%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPN-USDT	0.05110	0.0133	pay 0.0066% / 4h	50m 52s	$180K	$7K	50x
Short	OKX OPN-USDT-SWAP	0.05108	0.0100	get 0.0050% / 4h	50m 52s	$782K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$6.9
Price spread: −0.039% → −0.005%: −$3.39
Slippage, 4 orders: −$69.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$101.83
Costs to cover: 0.915%
Break-even: never at this rate

Slippage from BloFin: live order book, 47 min ago; OKX: live order book, 4 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, 47 min ago	0.97 bp	26.7 bp −$27	107.2 bp −$1,072	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.98 bp	30.4 bp −$30	doesn't fit	doesn't fit	doesn't fit

OPN on 15 exchanges

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	−0.1173%	1h	0.05084	−0.501%	$2K	$8K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05104	−0.112%	$7K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05105	−0.104%	$3.6M	$6.5M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05102	−0.157%	$727K	$3.1M	20x	as long as short
OKX OPN-USDT-SWAPshort	+0.0100%	4h	0.05108	−0.039%	$782K	$2.9M	20x
MEXC OPN_USDT	+0.0100%	4h	0.05100	−0.196%	$814K	$304K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05105	−0.098%	$115K	$57K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05102	−0.157%	$577K	$169K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05107	−0.059%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05100	−0.196%	$2K	$6K	10x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05210	+1.957%	$2K	$1.4M	20x	as long as short
BloFin OPN-USDTlong	+0.0133%	4h	0.05110	long leg	$180K	$7K	50x
Deribit OPN_USDC-PERPETUAL	+0.0554%	1h	0.05106	−0.086%	—	$203	10x	as long as short
Gate OPN_USDT	+0.0820%	4h	0.05107	−0.059%	$207K	$172K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1928%	1h	0.05163	+1.037%	$14K	$15K	50x	as long as short