Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0548%/8h= −60.0% APRpaid last 24h —

Price spread now: SunX against Deribit+1.943%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on SunX

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—needs both histories

The price spread pays, funding is against you. SunX is 1.943% dearer against Deribit than usual: you sell high and buy low (spread +1.943% now, against zero (this spread has no 7-day history yet)): +$194 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit OPN_USDC-PERPETUAL	0.05238	0.0648	pay 0.0081% / 1h	31m 00s	—	—	10x
Short	SunX OPN-USDT	0.05340	0.0100	get 0.0050% / 4h	3h 31m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.943%Rate

Funding earned: −$115.08
Price spread: +1.943% → 0.000%: $194.34
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $64.26
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; SunX: live order book, 4 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 Deribit no order-book sample	—	—	—	—	—
Sell SunX live order book, 4 min ago	261.68 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Deribit: 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	−0.2490%	1h	0.05229	−0.175%	$2K	$4K	20x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05241	+0.053%	$3.6M	$6.2M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05235	−0.061%	$725K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05246	+0.149%	$811K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05241	+0.053%	$854K	$329K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05236	−0.042%	$144K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05235	−0.061%	$605K	$185K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05243	+0.092%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	−0.157%	$3K	$5K	10x	as long as short
SunX OPN-USDTshort	+0.0100%	4h	0.05340	+1.943%	$2K	$1.4M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0114%	4h	0.05230	−0.151%	$8K	$15K	5x	as long as short
BloFin OPN-USDT	+0.0120%	4h	0.05227	−0.214%	$184K	$4K	50x	as long as short
Gate OPN_USDT	+0.0558%	4h	0.05237	−0.023%	$211K	$172K	50x	as long as short
Deribit OPN_USDC-PERPETUALlong	+0.0648%	1h	0.05238	long leg	—	—	10x
Coinbase International OPN-PERP-INTX	+0.1448%	1h	0.05232	−0.116%	$14K	$6K	50x	as long as short