Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Bybit+1.979%7-day average +2.070% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on SunX

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)+0.482%+$48 · spread now +1.979%, 7d avg +2.070%

Together, before fees+0.463%+$46 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: SunX is 0.091% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +2.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPNUSDT	0.05256	0.0100	pay 0.0050% / 4h	1h 13m	$732K	$2.9M	20x
Short	SunX OPN-USDT	0.05360	0.0100	get 0.0050% / 4h	1h 13m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.979%Rate

Funding earned: $0
Price spread: +1.979% → +2.070%: −$9.15
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$28.15
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; SunX: live order book, 11 min ago. Net counts fees only.

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, 4 min ago	3.81 bp	20.8 bp −$21	1638.7 bp −$16.4K	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	234.74 bp	doesn't fit	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	−1.1603%	1h	0.05240	−0.302%	$2K	$4K	20x	as long as short
Deribit OPN_USDC-PERPETUAL	0.0000%	1h	0.05254	−0.036%	—	—	10x	as long as short
Bybit OPNUSDTlong	+0.0100%	4h	0.05256	long leg	$732K	$2.9M	20x
KuCoin OPNUSDTM	+0.0100%	4h	0.05259	+0.057%	$145K	$68K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05256	0.000%	$607K	$187K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05260	+0.076%	$3K	$5K	10x	as long as short
SunX OPN-USDTshort	+0.0100%	4h	0.05360	+1.979%	$2K	$1.4M	20x
OKX OPN-USDT-SWAP	+0.0280%	4h	0.05248	−0.152%	$812K	$3.1M	20x	as long as short
BingX OPN-USDT	+0.0314%	4h	0.05256	0.000%	—	$1.6M	—	as long as short
MEXC OPN_USDT	+0.0324%	4h	0.05258	+0.038%	$836K	$340K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance OPNUSDT	+0.0325%	4h	0.05258	+0.034%	$3.7M	$5.9M	25x	as long as short
BloFin OPN-USDT	+0.0354%	4h	0.05264	+0.152%	$183K	$4K	50x	as long as short
Aster OPNUSDT	+0.0416%	4h	0.05259	+0.063%	$8K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05278	+0.424%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1864%	4h	0.05264	+0.152%	$208K	$165K	50x	as long as short