OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1112%/8h= −121.8% APRnext payment −$5.56 per $10,000 · paid last 24h −0.055%

Price spread now: SunX against Gate+2.257%7-day average +2.014% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 3 days (all we have)−0.179%−$18 · spread now +2.257%, 7d avg +2.014%

Together, before fees−0.281%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.244% dearer against Gate than usual: you sell high and buy low (spread +2.257% now, against its 7-day average of +2.014%): +$24 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.102% in total) that is about 17 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.102% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.56 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	0.05183	0.1212	pay 0.0606% / 4h	2h 05m	$207K	$160K	50x
Short	SunX OPN-USDT	0.05300	0.0100	get 0.0050% / 4h	2h 05m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpOrdersPrice spread, now +2.257%Rate

Funding earned: −$233.52
Price spread: +2.257% → +2.014%: $24.37
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$232.15
Costs to cover: 0.230%
Break-even: from the start

Slippage unknown: Gate: live order book, 56 min ago; SunX: live order book, 9 min ago. Net counts fees only.

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, 56 min ago	8.73 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	253.52 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

OPN on 14 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
Deribit OPN_USDC-PERPETUAL	+0.0020%	1h	0.05182	−0.027%	—	—	10x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05183	0.000%	$717K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05186	+0.058%	$802K	$3.2M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05179	−0.077%	$140K	$79K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05181	−0.039%	$594K	$186K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05180	−0.058%	$3K	$5K	10x	as long as short
SunX OPN-USDTshort	+0.0100%	4h	0.05300	+2.257%	$2K	$1.4M	20x
Binance OPNUSDT	+0.0137%	4h	0.05182	−0.019%	$3.6M	$5.8M	25x	as long as short
MEXC OPN_USDT	+0.0144%	4h	0.05184	+0.019%	$818K	$344K	50x	as long as short
BingX OPN-USDT	+0.0182%	4h	0.05184	+0.019%	—	$1.6M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0214%	4h	0.05177	−0.116%	$7K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05237	+1.044%	$14K	$5K	50x	as long as short
Gate OPN_USDTlong	+0.1212%	4h	0.05183	long leg	$207K	$160K	50x
Kraken Futures PF_OPNUSD	+0.2657%	1h	0.05128	−1.057%	$2K	$4K	20x	as long as short