OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.07 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against MEXC−0.057%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.057%, 7d avg +0.014%

Together, before fees+0.202%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and BingX is 0.071% cheaper against MEXC than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.014%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPN_USDT	0.05259	0.0328	pay 0.0164% / 4h	1h 14m	$836K	$340K	50x
Short	BingX OPN-USDT	0.05256	0.0314	get 0.0157% / 4h	1h 14m	—	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$2.94
Price spread: −0.057% → +0.014%: −$7.07
Slippage, 4 orders: −$18.26
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$42.27
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from MEXC: live order book, 41 min ago; BingX: live order book, 8 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 MEXC live order book, 41 min ago	2.88 bp	5.9 bp −$6	37.7 bp −$377	769.4 bp −$76.9K	doesn't fit
Sell BingX live order book, 8 min ago	3.83 bp	10.4 bp −$10	22.6 bp −$226	982.1 bp −$98.2K	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	−1.1616%	1h	0.05234	−0.471%	$2K	$4K	20x	as long as short
Deribit OPN_USDC-PERPETUAL	0.0000%	1h	0.05256	−0.049%	—	—	10x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05257	−0.038%	$735K	$2.9M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05259	0.000%	$145K	$68K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05258	−0.019%	$608K	$187K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05260	+0.019%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05370	+2.111%	$2K	$1.4M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0283%	4h	0.05263	+0.076%	$814K	$3.1M	20x	as long as short
BloFin OPN-USDT	+0.0288%	4h	0.05263	+0.076%	$185K	$4K	50x	as long as short
BingX OPN-USDTshort	+0.0314%	4h	0.05256	−0.057%	—	$1.7M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance OPNUSDT	+0.0325%	4h	0.05260	+0.014%	$3.7M	$5.9M	25x	as long as short
MEXC OPN_USDTlong	+0.0328%	4h	0.05259	long leg	$836K	$340K	50x
Aster OPNUSDT	+0.0426%	4h	0.05260	+0.015%	$8K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05278	+0.367%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1894%	4h	0.05264	+0.095%	$208K	$165K	50x	as long as short