Funding arb · Price arb /

OPN

all OPN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1348%/8h= +147.6% APRpaid last 24h +0.415%

Price spread now: Coinbase International against KuCoin−0.074%51s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Coinbase International is 0.074% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4 hours of funding at the current rate (+$40 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPNUSDTM	0.05236	0.0100	pay 0.0050% / 4h	3h 30m	$144K	$67K	25x
Short	Coinbase International OPN-PERP-INTX	0.05232	0.1448	get 0.0181% / 1h	30m 22s	$14K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.074%Rate

Funding earned: $283.08
Price spread: −0.074% → 0.000%: −$7.45
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $253.63
Costs to cover: 0.220%
Break-even: 0.7 days

Slippage unknown: KuCoin: live order book, 34 min ago; Coinbase International: 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 KuCoin live order book, 34 min ago	13.35 bp	349.6 bp −$350	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
Kraken Futures PF_OPNUSD	−0.2490%	1h	0.05229	−0.133%	$2K	$4K	20x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05236	0.000%	$3.6M	$6.2M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05235	−0.019%	$725K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05242	+0.115%	$810K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05236	0.000%	$854K	$329K	50x	as long as short
KuCoin OPNUSDTMlong	+0.0100%	4h	0.05236	long leg	$144K	$67K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05235	−0.019%	$605K	$185K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05239	+0.057%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	−0.115%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05340	+1.986%	$2K	$1.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0111%	4h	0.05231	−0.101%	$8K	$15K	5x	as long as short
BloFin OPN-USDT	+0.0120%	4h	0.05227	−0.172%	$184K	$4K	50x	as long as short
Gate OPN_USDT	+0.0592%	4h	0.05237	+0.019%	$211K	$172K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0648%	1h	0.05238	+0.042%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTXshort	+0.1448%	1h	0.05232	−0.074%	$14K	$6K	50x