Funding arb · Price arb /

OPN

all OPN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against KuCoin0.000%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$486as in the Funding arb table

Net, price: spread back to 7d avg − costs−$475as in the Price arb table

costs, in and out, $10k−$4774.774% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 4 days (all we have)−0.340%−$34 · spread now 0.000%, 7d avg −0.023%

Together, before fees−0.423%−$42 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: Binance is 0.023% dearer against KuCoin than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPNUSDTM	0.05226	0.0100	pay 0.0050% / 4h	2h 21m	$130K	$63K	25x
Short	Binance OPNUSDT	0.05226	0.0100	get 0.0050% / 4h	2h 21m	$3.7M	$6.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.023%: $2.27
Slippage, 4 orders: −$455.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$475.09
Costs to cover: 4.774%
Break-even: never at this rate

Slippage from KuCoin: live order book, 20 min ago; Binance: live order book, 10 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 KuCoin live order book, 20 min ago	14.45 bp	193.1 bp −$193	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	1.93 bp	29.1 bp −$29	147.0 bp −$1,470	doesn't fit	doesn't fit

OPN on 15 exchanges

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
BloFin OPN-USDT	+0.0050%	4h	0.05228	+0.038%	$185K	$6K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05218	−0.147%	$7K	$17K	5x	as long as short
Binance OPNUSDTshort	+0.0100%	4h	0.05226	0.000%	$3.7M	$6.6M	25x
Bybit OPNUSDT	+0.0100%	4h	0.05225	−0.019%	$745K	$3.3M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05231	+0.096%	$816K	$3.0M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05225	−0.019%	$799K	$311K	50x	as long as short
KuCoin OPNUSDTMlong	+0.0100%	4h	0.05226	long leg	$130K	$63K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05227	+0.019%	$592K	$171K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05226	0.000%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05220	−0.115%	$3K	$5K	10x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05340	+2.181%	$2K	$1.5M	20x	as long as short
Gate OPN_USDT	+0.0560%	4h	0.05230	+0.077%	$212K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1493%	1h	0.05231	+0.092%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.2976%	1h	0.05170	−1.075%	$14K	$15K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.3154%	1h	0.05240	+0.266%	$2K	$7K	20x	as long as short