Funding you earn now, next payment 12:00 UTC−0.0706%/8h= −77.3% APRnext payment −$3.53 per $10,000 · paid last 24h −0.112%
Price spread now: OKX against Gate−0.154%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$140as in the Funding arb table
Net, price: spread back to 7d avg − costs−$137as in the Price arb table
costs, in and out, $10k−$1271.269% of the position
Funding, last 7 days−0.132%−$13 on $10k
+Price spread, last 4 days (all we have)−0.406%−$41 · spread now −0.154%, 7d avg −0.054%
=Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and OKX is 0.101% cheaper against Gate than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.054%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.132% in total (about -6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.53 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 | 0.05181 | 0.0806 | pay 0.0403% / 4h | 3h 39m | $210K | $175K | 50x |
| Short | OKX OPN-USDT-SWAP | 0.05173 | 0.0100 | get 0.0050% / 4h | 3h 39m | $809K | $3.0M | 20x |
Gate OPN_USDT
OKX OPN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$148.26
- Price spread: −0.154% → −0.054%
- −$10.08
- Slippage, 4 orders
- −$101.9
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$285.25
- Costs to cover
- 1.269%
- Break-even
- never at this rate
Slippage from Gate: live order book, 52 min ago; OKX: live order book, 3 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, 52 min ago | 9.53 bp | 36.1 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 1.92 bp | 29.5 bp −$30 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster OPNUSDT | +0.0100% | 4h | 0.05180 | −0.025% | $7K | $18K | 5x | as long as short |
| Binance OPNUSDT | +0.0100% | 4h | 0.05170 | −0.208% | $3.6M | $6.6M | 25x | as long as short |
| OKX OPN-USDT-SWAPshort | +0.0100% | 4h | 0.05173 | −0.154% | $809K | $3.0M | 20x | |
| MEXC OPN_USDT | +0.0100% | 4h | 0.05171 | −0.193% | $822K | $318K | 50x | as long as short |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05174 | −0.135% | $129K | $64K | 25x | as long as short |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05173 | −0.154% | $585K | $174K | 20x | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05170 | −0.212% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05280 | +1.911% | $1K | $1.5M | 20x | as long as short |
| Bybit OPNUSDT | +0.0118% | 4h | 0.05172 | −0.174% | $726K | $3.2M | 20x | as long as short |
| BloFin OPN-USDT | +0.0157% | 4h | 0.05174 | −0.135% | $181K | $5K | 50x | as long as short |
Aster OPNUSDT
Binance OPNUSDT
MEXC OPN_USDT
KuCoin OPNUSDTM
Bitget OPNUSDT
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
Bybit OPNUSDT
BloFin OPN-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX OPN-USDT | +0.0314% | 4h | 0.05171 | −0.193% | — | $1.7M | — | as long as short |
| Gate OPN_USDTlong | +0.0806% | 4h | 0.05181 | long leg | $210K | $175K | 50x | |
| Deribit OPN_USDC-PERPETUAL | +0.0873% | 1h | 0.05173 | −0.162% | — | $203 | 10x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.2696% | 1h | 0.05262 | +1.573% | $14K | $6K | 50x | as long as short |
| Kraken Futures PF_OPNUSD | +0.4010% | 1h | 0.05177 | −0.085% | $4K | $5K | 20x | as long as short |
BingX OPN-USDT
Deribit OPN_USDC-PERPETUAL
Coinbase International OPN-PERP-INTX
Kraken Futures PF_OPNUSD