Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin+0.155%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$387as in the Funding arb table

Net, price: spread back to 7d avg − costs−$377as in the Price arb table

costs, in and out, $10k−$3933.930% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)−0.198%−$20 · spread now +0.155%, 7d avg −0.010%

Together, before fees−0.139%−$14 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: BingX is 0.165% dearer against KuCoin than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPNUSDTM	0.05157	0.0100	pay 0.0050% / 4h	2h 35m	$143K	$67K	25x
Short	BingX OPN-USDT	0.05165	0.0100	get 0.0050% / 4h	2h 35m	—	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.155%Rate

Funding earned: $0
Price spread: +0.155% → −0.010%: $16.47
Slippage, 4 orders: −$371
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$376.54
Costs to cover: 3.930%
Break-even: never at this rate

Slippage from KuCoin: live order book, 19 min ago; BingX: live order book, 7 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, 19 min ago	15.42 bp	191.0 bp −$191	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	2.91 bp	10.9 bp −$11	22.0 bp −$220	739.8 bp −$74.0K	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	−0.2068%	1h	0.05138	−0.374%	$2K	$4K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05155	−0.030%	$7K	$15K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05161	+0.077%	$3.6M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05157	0.000%	$704K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05173	+0.310%	$800K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05165	+0.155%	$832K	$329K	50x	as long as short
KuCoin OPNUSDTMlong	+0.0100%	4h	0.05157	long leg	$143K	$67K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05157	0.000%	$595K	$184K	20x	as long as short
BingX OPN-USDTshort	+0.0100%	4h	0.05165	+0.155%	—	$1.7M	—
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05150	−0.136%	$3K	$5K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05270	+2.191%	$2K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0111%	4h	0.05154	−0.058%	$181K	$4K	50x	as long as short
Gate OPN_USDT	+0.0168%	4h	0.05150	−0.136%	$208K	$168K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05257	+1.935%	$14K	$6K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1516%	1h	0.05161	+0.080%	—	—	10x	as long as short