Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.2549%/8h= −279.1% APRpaid last 24h +0.679%

Price spread now: Aster against Kraken Futures+0.673%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.673% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.673% now, against zero (this spread has no 7-day history yet)): +$67 on $10k if it goes back. Holding the pair costs −$76 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_OPNUSD	0.05088	0.2677	pay 0.0335% / 1h	50m 53s	$2K	$4K	20x
Short	Aster OPNUSDT	0.05123	0.0128	get 0.0064% / 4h	2h 50m	$7K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.673%Rate

Funding earned: −$535.35
Price spread: +0.673% → 0.000%: $67.34
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$486.01
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Aster: no order-book sample. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Kraken Futures and Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Binance OPNUSDT	+0.0100%	4h	0.05129	+0.796%	$3.5M	$5.8M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05131	+0.838%	$717K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05133	+0.877%	$793K	$3.3M	20x	as long as short
Gate OPN_USDT	+0.0100%	4h	0.05132	+0.858%	$205K	$159K	50x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05128	+0.779%	$826K	$334K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05120	+0.622%	$138K	$80K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05127	+0.759%	$588K	$190K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05120	+0.622%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05230	+2.784%	$1K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0111%	4h	0.05123	+0.681%	$182K	$4K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX OPN-USDT	+0.0118%	4h	0.05133	+0.877%	—	$1.6M	—	as long as short
Aster OPNUSDTshort	+0.0128%	4h	0.05123	+0.673%	$7K	$15K	5x
Deribit OPN_USDC-PERPETUAL	+0.0727%	1h	0.05124	+0.701%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05160	+1.416%	$13K	$5K	50x	as long as short
Kraken Futures PF_OPNUSDlong	+0.2677%	1h	0.05088	long leg	$2K	$4K	20x