OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0045%/8h= +5.0% APRnext payment +$0.23 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bybit−0.085%7-day average −0.059% · 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−$72as in the Price arb table

costs, in and out, $10k−$690.694% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.085%, 7d avg −0.059%

Together, before fees−0.101%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.026% cheaper against Bybit than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of −0.059%). If the spread goes back, that is −$3 on $10k: about 47 hours of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPNUSDT	0.05183	0.0100	pay 0.0050% / 4h	2h 06m	$717K	$2.9M	20x
Short	Binance OPNUSDT	0.05179	0.0145	get 0.0073% / 4h	2h 06m	$3.6M	$5.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.085%Rate

Funding earned: $9.5
Price spread: −0.085% → −0.059%: −$2.65
Slippage, 4 orders: −$48.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$62.53
Costs to cover: 0.694%
Break-even: 53.1 days

Slippage from Bybit: live order book, 1 min ago; Binance: live order book, 2 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 Bybit live order book, 1 min ago	1.93 bp	18.5 bp −$19	904.8 bp −$9,048	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.93 bp	15.4 bp −$15	98.2 bp −$982	doesn't fit	doesn't fit

OPN on 14 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
Deribit OPN_USDC-PERPETUAL	+0.0040%	1h	0.05178	−0.100%	—	—	10x	as long as short
Bybit OPNUSDTlong	+0.0100%	4h	0.05183	long leg	$717K	$2.9M	20x
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05186	+0.058%	$803K	$3.2M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05182	−0.019%	$140K	$79K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05175	−0.154%	$593K	$187K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05180	−0.058%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05290	+2.064%	$2K	$1.4M	20x	as long as short
Binance OPNUSDTshort	+0.0145%	4h	0.05179	−0.085%	$3.6M	$5.8M	25x
MEXC OPN_USDT	+0.0154%	4h	0.05182	−0.019%	$818K	$344K	50x	as long as short
BingX OPN-USDT	+0.0188%	4h	0.05184	+0.019%	—	$1.6M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0222%	4h	0.05180	−0.063%	$7K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05237	+1.044%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1214%	4h	0.05184	+0.019%	$207K	$160K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2657%	1h	0.05128	−1.057%	$2K	$4K	20x	as long as short