Funding you earn now, next payment 04:00 UTC−0.1762%/8h= −192.9% APRnext payment −$8.81 per $10,000 · paid last 24h −0.055%
Price spread now: Bitget against Gate−0.096%7-day average −0.128% · you buy dearer than you sell
Net, funding: paid 7d − costs−$155as in the Funding arb table
Net, price: spread back to 7d avg − costs−$133as in the Price arb table
costs, in and out, $10k−$1361.358% of the position
Funding, last 7 days−0.188%−$19 on $10k
+Price spread, last 4 days (all we have)−0.335%−$33 · spread now −0.096%, 7d avg −0.128%
=The price spread pays, funding is against you. Bitget is 0.033% dearer against Gate than usual: you sell high and buy low (spread −0.096% now, against its 7-day average of −0.128%): +$3 on $10k if it goes back. Holding the pair costs −$53 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−0.188% in total) that is about 29 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.81 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate OPN_USDT | 0.05229 | 0.1862 | pay 0.0931% / 4h | 1h 19m | $209K | $161K | 50x |
| Short | Bitget OPNUSDT | 0.05224 | 0.0100 | get 0.0050% / 4h | 1h 19m | $598K | $181K | 20x |
Gate OPN_USDT
Bitget OPNUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Gate. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$370.02
- Price spread: −0.096% → −0.128%
- $3.28
- Slippage, 4 orders
- −$108.81
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$502.56
- Costs to cover
- 1.358%
- Break-even
- never at this rate
Slippage from Gate: live order book, 36 min ago; Bitget: live order book, 40 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, 36 min ago | 4.78 bp | 44.4 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 40 min ago | 5.78 bp | 28.0 bp −$28 | 129.3 bp −$1,293 | 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 | −1.1704% | 1h | 0.05195 | −0.650% | $2K | $4K | 20x | as long as short |
| Bybit OPNUSDT | +0.0100% | 4h | 0.05226 | −0.057% | $729K | $2.9M | 20x | as long as short |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05231 | +0.038% | $141K | $66K | 25x | as long as short |
| Bitget OPNUSDTshort | +0.0100% | 4h | 0.05224 | −0.096% | $598K | $181K | 20x | |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05230 | +0.019% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05330 | +1.932% | $2K | $1.4M | 20x | as long as short |
| Deribit OPN_USDC-PERPETUAL | +0.0133% | 1h | 0.05228 | −0.015% | — | — | 10x | as long as short |
| BingX OPN-USDT | +0.0222% | 4h | 0.05225 | −0.076% | — | $1.6M | — | as long as short |
| OKX OPN-USDT-SWAP | +0.0241% | 4h | 0.05226 | −0.057% | $808K | $3.1M | 20x | as long as short |
| MEXC OPN_USDT | +0.0270% | 4h | 0.05226 | −0.057% | $832K | $339K | 50x | as long as short |
Kraken Futures PF_OPNUSD
Bybit OPNUSDT
KuCoin OPNUSDTM
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
Deribit OPN_USDC-PERPETUAL
BingX OPN-USDT
OKX OPN-USDT-SWAP
MEXC OPN_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance OPNUSDT | +0.0270% | 4h | 0.05226 | −0.057% | $3.6M | $5.8M | 25x | as long as short |
| BloFin OPN-USDT | +0.0282% | 4h | 0.05230 | +0.019% | $183K | $4K | 50x | as long as short |
| Aster OPNUSDT | +0.0351% | 4h | 0.05213 | −0.301% | $7K | $14K | 5x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.1520% | 1h | 0.05239 | +0.197% | $14K | $5K | 50x | as long as short |
| Gate OPN_USDTlong | +0.1862% | 4h | 0.05229 | long leg | $209K | $161K | 50x |
Binance OPNUSDT
BloFin OPN-USDT
Aster OPNUSDT
Coinbase International OPN-PERP-INTX