Funding you earn now, next payment 08:00 UTC−0.0748%/8h= −81.9% APRnext payment −$3.74 per $10,000 · paid last 24h −0.102%
Price spread now: KuCoin against Gate−0.094%7-day average −0.058% · you buy dearer than you sell
Net, funding: paid 7d − costs−$461as in the Funding arb table
Net, price: spread back to 7d avg − costs−$449as in the Price arb table
costs, in and out, $10k−$4464.457% of the position
Funding, last 7 days−0.148%−$15 on $10k
+Price spread, last 4 days (all we have)+0.003%$0 · spread now −0.094%, 7d avg −0.058%
=Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and KuCoin is 0.036% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.058%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.148% in total (about -7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.74 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 | 0.05334 | 0.0848 | pay 0.0424% / 4h | 1h 58m | $214K | $171K | 50x |
| Short | KuCoin OPNUSDTM | 0.05329 | 0.0100 | get 0.0050% / 4h | 1h 58m | $156K | $64K | 25x |
Gate OPN_USDT
KuCoin OPNUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$157.08
- Price spread: −0.094% → −0.058%
- −$3.59
- Slippage, 4 orders
- −$418.7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$606.37
- Costs to cover
- 4.457%
- Break-even
- never at this rate
Slippage from Gate: live order book, 43 min ago; KuCoin: live order book, 57 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, 43 min ago | 6.79 bp | 33.4 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 57 min ago | 15.42 bp | 181.6 bp −$182 | 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 | −0.2402% | 1h | 0.05312 | −0.419% | $2K | $4K | 20x | as long as short |
| BloFin OPN-USDT | +0.0042% | 4h | 0.05312 | −0.412% | $182K | $5K | 50x | as long as short |
| Binance OPNUSDT | +0.0100% | 4h | 0.05321 | −0.244% | $3.8M | $6.3M | 25x | as long as short |
| Bybit OPNUSDT | +0.0100% | 4h | 0.05326 | −0.150% | $764K | $3.0M | 20x | as long as short |
| MEXC OPN_USDT | +0.0100% | 4h | 0.05331 | −0.056% | $856K | $318K | 50x | as long as short |
| KuCoin OPNUSDTMshort | +0.0100% | 4h | 0.05329 | −0.094% | $156K | $64K | 25x | |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05326 | −0.150% | $613K | $172K | 20x | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05320 | −0.262% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05450 | +2.175% | $1K | $1.4M | 20x | as long as short |
| Aster OPNUSDT | +0.0111% | 4h | 0.05319 | −0.277% | $8K | $16K | 5x | as long as short |
Kraken Futures PF_OPNUSD
BloFin OPN-USDT
Binance OPNUSDT
Bybit OPNUSDT
MEXC OPN_USDT
Bitget OPNUSDT
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
Aster OPNUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX OPN-USDT | +0.0120% | 4h | 0.05325 | −0.169% | — | $1.7M | — | as long as short |
| OKX OPN-USDT-SWAP | +0.0158% | 4h | 0.05322 | −0.225% | $829K | $3.1M | 20x | as long as short |
| Gate OPN_USDTlong | +0.0848% | 4h | 0.05334 | long leg | $214K | $171K | 50x | |
| Deribit OPN_USDC-PERPETUAL | +0.1461% | 1h | 0.05329 | −0.092% | $103 | $101 | 10x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.1984% | 1h | 0.05353 | +0.356% | $14K | $6K | 50x | as long as short |
BingX OPN-USDT
OKX OPN-USDT-SWAP
Deribit OPN_USDC-PERPETUAL
Coinbase International OPN-PERP-INTX