Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bybit−0.058%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$525as in the Funding arb table

Net, price: spread back to 7d avg − costs−$530as in the Price arb table

costs, in and out, $10k−$5235.232% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.058%, 7d avg +0.006%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.064% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPNUSDT	0.05207	0.0100	pay 0.0050% / 4h	22m 48s	$737K	$3.2M	20x
Short	KuCoin OPNUSDTM	0.05204	0.0100	get 0.0050% / 4h	22m 48s	$135K	$65K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.006%: −$6.41
Slippage, 4 orders: −$500.17
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$529.58
Costs to cover: 5.232%
Break-even: never at this rate

Slippage from Bybit: live order book, 10 min ago; KuCoin: 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, 10 min ago	2.86 bp	14.8 bp −$15	1594.4 bp −$15.9K	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	12.37 bp	258.1 bp −$258	doesn't fit	doesn't fit	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
BloFin OPN-USDT	+0.0047%	4h	0.05200	−0.134%	$187K	$5K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05201	−0.115%	$7K	$18K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05211	+0.077%	$3.7M	$6.6M	25x	as long as short
Bybit OPNUSDTlong	+0.0100%	4h	0.05207	long leg	$737K	$3.2M	20x
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05217	+0.192%	$817K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05209	+0.038%	$830K	$325K	50x	as long as short
KuCoin OPNUSDTMshort	+0.0100%	4h	0.05204	−0.058%	$135K	$65K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05206	−0.019%	$595K	$177K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05216	+0.173%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05200	−0.134%	$3K	$5K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05320	+2.170%	$1K	$1.5M	20x	as long as short
Gate OPN_USDT	+0.0164%	4h	0.05205	−0.038%	$213K	$177K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0481%	1h	0.05204	−0.056%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.2488%	1h	0.05365	+3.038%	$14K	$6K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2889%	1h	0.05231	+0.463%	$4K	$6K	20x	as long as short