OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0006%/8h= −0.7% APRnext payment −$0.03 per $10,000 · paid last 24h −0.102%

Price spread now: MEXC against Gate−0.019%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$840.837% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 4 days (all we have)−0.163%−$16 · spread now −0.019%, 7d avg −0.083%

Together, before fees−0.397%−$40 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: MEXC is 0.064% dearer against Gate than usual: you sell high and buy low, +$6 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	0.05140	0.0106	pay 0.0053% / 4h	2h 38m	$208K	$168K	50x
Short	MEXC OPN_USDT	0.05139	0.0100	get 0.0050% / 4h	2h 38m	$827K	$328K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$1.26
Price spread: −0.019% → −0.083%: $6.36
Slippage, 4 orders: −$64.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$78.64
Costs to cover: 0.837%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; MEXC: live order book, 2 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, 3 min ago	6.79 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.95 bp	5.4 bp −$5	36.2 bp −$362	720.8 bp −$72.1K	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	−0.2075%	1h	0.05122	−0.351%	$2K	$4K	20x	as long as short
BloFin OPN-USDT	+0.0057%	4h	0.05131	−0.175%	$180K	$4K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05140	+0.004%	$7K	$15K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05143	+0.058%	$3.5M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05139	−0.019%	$704K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05149	+0.175%	$795K	$3.1M	20x	as long as short
MEXC OPN_USDTshort	+0.0100%	4h	0.05139	−0.019%	$827K	$328K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05136	−0.078%	$142K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05137	−0.058%	$593K	$184K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05144	+0.078%	—	$1.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05130	−0.195%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05250	+2.140%	$2K	$1.4M	20x	as long as short
Gate OPN_USDTlong	+0.0106%	4h	0.05140	long leg	$208K	$168K	50x
Deribit OPN_USDC-PERPETUAL	+0.0919%	1h	0.05137	−0.066%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05257	+2.272%	$14K	$6K	50x	as long as short