Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h —

Price spread now: Aster against Deribit−0.170%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.170% cheaper against Deribit than usual: you would sell low and buy high (spread −0.170% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.9 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit OPN_USDC-PERPETUAL	0.05244	0.0208	pay 0.0026% / 1h	17m 02s	—	—	10x
Short	Aster OPNUSDT	0.05235	0.0404	get 0.0202% / 4h	1h 17m	$8K	$14K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.170%Rate

Funding earned: $41.22
Price spread: −0.170% → 0.000%: −$17
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $9.22
Costs to cover: 0.150%
Break-even: 5.4 days

Slippage unknown: Deribit: no order-book sample; Aster: no order-book sample. 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Deribit and Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.1617%	1h	0.05234	−0.189%	$2K	$4K	20x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05244	+0.010%	$738K	$2.9M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05244	+0.010%	$141K	$68K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05243	−0.010%	$601K	$183K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05240	−0.067%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05350	+2.031%	$1K	$1.4M	20x	as long as short
Deribit OPN_USDC-PERPETUALlong	+0.0208%	1h	0.05244	long leg	—	—	10x
OKX OPN-USDT-SWAP	+0.0272%	4h	0.05247	+0.067%	$812K	$3.1M	20x	as long as short
BingX OPN-USDT	+0.0298%	4h	0.05244	+0.010%	—	$1.6M	—	as long as short
BloFin OPN-USDT	+0.0314%	4h	0.05245	+0.029%	$184K	$4K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC OPN_USDT	+0.0314%	4h	0.05242	−0.029%	$834K	$339K	50x	as long as short
Binance OPNUSDT	+0.0315%	4h	0.05243	−0.017%	$3.6M	$5.8M	25x	as long as short
Aster OPNUSDTshort	+0.0404%	4h	0.05235	−0.170%	$8K	$14K	5x
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05239	−0.080%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1936%	4h	0.05247	+0.067%	$209K	$162K	50x	as long as short