OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0038%/8h= −4.2% APRnext payment −$0.19 per $10,000 · paid last 24h 0.000%

Price spread now: BloFin against KuCoin−0.038%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$549as in the Funding arb table

Net, price: spread back to 7d avg − costs−$545as in the Price arb table

costs, in and out, $10k−$5405.400% of the position

Long on KuCoin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.038%, 7d avg +0.017%

Together, before fees+0.095%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.054% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPNUSDTM	0.05312	0.0100	pay 0.0050% / 4h	1h 04m	$149K	$63K	25x
Short	BloFin OPN-USDT	0.05310	0.0062	get 0.0031% / 4h	1h 04m	$190K	$5K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$8.07
Price spread: −0.038% → +0.017%: −$5.44
Slippage, 4 orders: −$515.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$553.47
Costs to cover: 5.400%
Break-even: never at this rate

Slippage from KuCoin: live order book, 36 min ago; BloFin: live order book, 5 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, 36 min ago	12.25 bp	218.6 bp −$219	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	3.77 bp	19.5 bp −$19	75.1 bp −$751	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
Kraken Futures PF_OPNUSD	−0.2400%	1h	0.05316	+0.083%	$4K	$6K	20x	as long as short
BloFin OPN-USDTshort	+0.0062%	4h	0.05310	−0.038%	$190K	$5K	50x
Aster OPNUSDT	+0.0100%	4h	0.05313	+0.025%	$8K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05309	−0.056%	$3.8M	$6.4M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05308	−0.075%	$765K	$3.1M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05311	−0.019%	$832K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05309	−0.056%	$859K	$327K	50x	as long as short
KuCoin OPNUSDTMlong	+0.0100%	4h	0.05312	long leg	$149K	$63K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05309	−0.056%	$607K	$171K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05308	−0.075%	—	$1.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05310	−0.038%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05420	+2.033%	$1K	$1.4M	20x	as long as short
Gate OPN_USDT	+0.0144%	4h	0.05317	+0.094%	$214K	$174K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0881%	1h	0.05311	−0.013%	$103	$101	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1984%	1h	0.05385	+1.367%	$14K	$6K	50x	as long as short