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 −0.055%

Price spread now: Binance against Gate−0.038%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1041.037% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 4 days (all we have)−0.221%−$22 · spread now −0.038%, 7d avg −0.083%

Together, before fees−0.410%−$41 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: Binance is 0.044% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPN_USDT	0.05102	0.0100	pay 0.0050% / 4h	2h 54m	$204K	$158K	50x
Short	Binance OPNUSDT	0.05100	0.0100	get 0.0050% / 4h	2h 54m	$3.5M	$5.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.083%: $4.44
Slippage, 4 orders: −$78.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$99.28
Costs to cover: 1.037%
Break-even: never at this rate

Slippage from Gate: live order book, 7 min ago; Binance: live order book, 13 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 Gate live order book, 7 min ago	8.73 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.93 bp	15.1 bp −$15	107.1 bp −$1,071	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	+0.0042%	4h	0.05093	−0.176%	$180K	$4K	50x	as long as short
Binance OPNUSDTshort	+0.0100%	4h	0.05100	−0.038%	$3.5M	$5.8M	25x
Bybit OPNUSDT	+0.0100%	4h	0.05096	−0.118%	$707K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05099	−0.059%	$796K	$3.2M	20x	as long as short
Gate OPN_USDTlong	+0.0100%	4h	0.05102	long leg	$204K	$158K	50x
MEXC OPN_USDT	+0.0100%	4h	0.05097	−0.098%	$800K	$324K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05093	−0.176%	$132K	$79K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05094	−0.157%	$584K	$188K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05090	−0.235%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05200	+1.921%	$1K	$1.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0114%	4h	0.05101	−0.016%	$7K	$15K	5x	as long as short
BingX OPN-USDT	+0.0118%	4h	0.05098	−0.078%	—	$1.6M	—	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0162%	1h	0.05094	−0.163%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05152	+0.982%	$13K	$4K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2703%	1h	0.05039	−1.233%	$2K	$4K	20x	as long as short