OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0145%/8h= +15.9% APRnext payment +$0.72 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin−0.229%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$667as in the Funding arb table

Net, price: spread back to 7d avg − costs−$692as in the Price arb table

costs, in and out, $10k−$6706.696% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.202%−$20 · spread now −0.229%, 7d avg −0.002%

Together, before fees−0.175%−$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.227% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.229% now, against its 7-day average of −0.002%). If the spread goes back, that is −$23 on $10k: about 5.2 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.026% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPNUSDTM	0.05232	0.0100	pay 0.0050% / 4h	1h 09m	$144K	$68K	25x
Short	OKX OPN-USDT-SWAP	0.05220	0.0245	get 0.0122% / 4h	1h 09m	$808K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.229%Rate

Funding earned: $30.44
Price spread: −0.229% → −0.002%: −$22.71
Slippage, 4 orders: −$647.55
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$661.82
Costs to cover: 6.696%
Break-even: 159.2 days

Slippage from KuCoin: live order book, 5 min ago; OKX: live order book, 3 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, 5 min ago	16.16 bp	355.4 bp −$355	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	4.77 bp	32.2 bp −$32	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	−1.1662%	1h	0.05214	−0.353%	$2K	$4K	20x	as long as short
Deribit OPN_USDC-PERPETUAL	−0.0477%	1h	0.05220	−0.226%	—	—	10x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05219	−0.248%	$728K	$2.9M	20x	as long as short
KuCoin OPNUSDTMlong	+0.0100%	4h	0.05232	long leg	$144K	$68K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05236	+0.076%	$605K	$187K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05220	−0.229%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05330	+1.873%	$2K	$1.4M	20x	as long as short
OKX OPN-USDT-SWAPshort	+0.0245%	4h	0.05220	−0.229%	$808K	$3.1M	20x
BloFin OPN-USDT	+0.0276%	4h	0.05226	−0.115%	$182K	$4K	50x	as long as short
Binance OPNUSDT	+0.0279%	4h	0.05223	−0.172%	$3.6M	$5.9M	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC OPN_USDT	+0.0286%	4h	0.05227	−0.096%	$831K	$340K	50x	as long as short
BingX OPN-USDT	+0.0326%	4h	0.05223	−0.172%	—	$1.7M	—	as long as short
Aster OPNUSDT	+0.0347%	4h	0.05230	−0.033%	$8K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05278	+0.885%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1706%	4h	0.05234	+0.038%	$209K	$168K	50x	as long as short