Funding you earn now, next payment 12:00 UTC+0.0362%/8h= +39.6% APRnext payment +$1.81 per $10,000 · paid last 24h +0.112%
Price spread now: Gate against Bybit+0.039%7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs−$205as in the Funding arb table
Net, price: spread back to 7d avg − costs−$222as in the Price arb table
costs, in and out, $10k−$2192.193% of the position
Funding, last 7 days+0.139%+$14 on $10k
+Price spread, last 4 days (all we have)+0.212%+$21 · spread now +0.039%, 7d avg +0.068%
=Funding pays, the price is against you. Gate is 0.028% cheaper against Bybit than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.068%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.139% in total) that is about 34 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.139% in total (about 7.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.81 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPNUSDT | 0.05108 | 0.0100 | pay 0.0050% / 4h | 1h 31m | $729K | $3.2M | 20x |
| Short | Gate OPN_USDT | 0.05110 | 0.0462 | get 0.0231% / 4h | 1h 31m | $206K | $171K | 50x |
Bybit OPNUSDT
Gate OPN_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $76.02
- Price spread: +0.039% → +0.068%
- −$2.84
- Slippage, 4 orders
- −$193.3
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$146.12
- Costs to cover
- 2.193%
- Break-even
- 20.5 days
Slippage from Bybit: live order book, 9 min ago; Gate: live order book, 8 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, 9 min ago | 2.90 bp | 92.0 bp −$92 | 2534.8 bp −$25.3K | doesn't fit | doesn't fit |
| Sell Gate live order book, 8 min ago | 7.73 bp | 33.8 bp −$34 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin OPN-USDT | +0.0042% | 4h | 0.05112 | +0.078% | $182K | $7K | 50x | as long as short |
| Aster OPNUSDT | +0.0100% | 4h | 0.05110 | +0.046% | $7K | $16K | 5x | as long as short |
| Binance OPNUSDT | +0.0100% | 4h | 0.05110 | +0.045% | $3.6M | $6.4M | 25x | as long as short |
| Bybit OPNUSDTlong | +0.0100% | 4h | 0.05108 | long leg | $729K | $3.2M | 20x | |
| OKX OPN-USDT-SWAP | +0.0100% | 4h | 0.05111 | +0.059% | $781K | $2.9M | 20x | as long as short |
| MEXC OPN_USDT | +0.0100% | 4h | 0.05110 | +0.039% | $815K | $308K | 50x | as long as short |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05109 | +0.020% | $121K | $56K | 25x | as long as short |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05110 | +0.039% | $578K | $168K | 20x | as long as short |
| BingX OPN-USDT | +0.0100% | 4h | 0.05110 | +0.039% | — | $1.7M | — | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05110 | +0.039% | $2K | $6K | 10x | as long as short |
BloFin OPN-USDT
Aster OPNUSDT
Binance OPNUSDT
OKX OPN-USDT-SWAP
MEXC OPN_USDT
KuCoin OPNUSDTM
Bitget OPNUSDT
BingX OPN-USDT
Orderly PERP_OPN_USDC_mythosShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX OPN-USDT | +0.0100% | 4h | 0.05220 | +2.193% | $1K | $1.4M | 20x | as long as short |
| Gate OPN_USDTshort | +0.0462% | 4h | 0.05110 | +0.039% | $206K | $171K | 50x | |
| Deribit OPN_USDC-PERPETUAL | +0.0709% | 1h | 0.05112 | +0.086% | — | $203 | 10x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.1968% | 1h | 0.05233 | +2.449% | $15K | $15K | 50x | as long as short |
| Kraken Futures PF_OPNUSD | +0.3029% | 1h | 0.05131 | +0.448% | $2K | $7K | 20x | as long as short |
SunX OPN-USDT
Deribit OPN_USDC-PERPETUAL
Coinbase International OPN-PERP-INTX
Kraken Futures PF_OPNUSD