OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.10 per $10,000 · paid last 24h +0.102%

Price spread now: Gate against KuCoin+0.019%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$431as in the Funding arb table

Net, price: spread back to 7d avg − costs−$450as in the Price arb table

costs, in and out, $10k−$4464.457% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.019%, 7d avg +0.058%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.038% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.058%). If the spread goes back, that is −$4 on $10k: about 6.4 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.148% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPNUSDTM	0.05149	0.0100	pay 0.0050% / 4h	2h 37m	$142K	$67K	25x
Short	Gate OPN_USDT	0.05150	0.0120	get 0.0060% / 4h	2h 37m	$208K	$168K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.019%Rate

Funding earned: $4.2
Price spread: +0.019% → +0.058%: −$3.84
Slippage, 4 orders: −$418.7
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$445.34
Costs to cover: 4.457%
Break-even: 749.2 days

Slippage from KuCoin: live order book, 18 min ago; Gate: live order book, 4 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, 18 min ago	15.42 bp	191.0 bp −$191	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	6.79 bp	39.7 bp −$40	doesn't fit	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	−0.2066%	1h	0.05144	−0.092%	$2K	$4K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05151	+0.032%	$7K	$15K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05159	+0.194%	$3.6M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05157	+0.155%	$708K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05164	+0.291%	$799K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05155	+0.117%	$830K	$329K	50x	as long as short
KuCoin OPNUSDTMlong	+0.0100%	4h	0.05149	long leg	$142K	$67K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05153	+0.078%	$595K	$184K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05159	+0.194%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05140	−0.175%	$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	+2.350%	$2K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0111%	4h	0.05154	+0.097%	$181K	$4K	50x	as long as short
Gate OPN_USDTshort	+0.0120%	4h	0.05150	+0.019%	$208K	$168K	50x
Deribit OPN_USDC-PERPETUAL	+0.1150%	1h	0.05152	+0.050%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05257	+2.094%	$14K	$6K	50x	as long as short