OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0095%/8h= +10.3% APRnext payment +$0.47 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bybit+0.076%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1041.042% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 7 days−0.117%−$12 · spread now +0.076%, 7d avg −0.002%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.078% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPNUSDT	0.05230	0.0100	pay 0.0050% / 4h	26m 33s	$733K	$2.9M	20x
Short	OKX OPN-USDT-SWAP	0.05234	0.0195	get 0.0097% / 4h	26m 33s	$810K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.076%Rate

Funding earned: $19.85
Price spread: +0.076% → −0.002%: $7.81
Slippage, 4 orders: −$83.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$76.56
Costs to cover: 1.042%
Break-even: 34.0 days

Slippage from Bybit: live order book, 6 min ago; OKX: live order book, 1 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, 6 min ago	4.76 bp	21.7 bp −$22	1449.6 bp −$14.5K	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	4.78 bp	30.4 bp −$30	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
Kraken Futures PF_OPNUSD	−0.2712%	1h	0.05168	−1.189%	$2K	$4K	20x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05230	0.000%	$3.7M	$6.0M	25x	as long as short
Bybit OPNUSDTlong	+0.0100%	4h	0.05230	long leg	$733K	$2.9M	20x
MEXC OPN_USDT	+0.0100%	4h	0.05230	0.000%	$893K	$320K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05231	+0.019%	$144K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05227	−0.057%	$604K	$185K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	0.000%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05340	+2.103%	$1K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0120%	4h	0.05232	+0.038%	$183K	$4K	50x	as long as short
Aster OPNUSDT	+0.0141%	4h	0.05233	+0.049%	$8K	$14K	5x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit OPN_USDC-PERPETUAL	+0.0190%	1h	0.05228	−0.033%	—	—	10x	as long as short
OKX OPN-USDT-SWAPshort	+0.0195%	4h	0.05234	+0.076%	$810K	$3.1M	20x
BingX OPN-USDT	+0.0210%	4h	0.05231	+0.019%	—	$1.7M	—	as long as short
Gate OPN_USDT	+0.0866%	4h	0.05237	+0.134%	$211K	$171K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1664%	1h	0.05259	+0.562%	$14K	$5K	50x	as long as short