Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC+0.019%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$880.883% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.213%−$21 · spread now +0.019%, 7d avg −0.045%

Together, before fees−0.219%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.064% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPN_USDT	0.05172	0.0100	pay 0.0050% / 4h	3h 39m	$822K	$318K	50x
Short	Bitget OPNUSDT	0.05173	0.0100	get 0.0050% / 4h	3h 39m	$585K	$174K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.045%: $6.4
Slippage, 4 orders: −$72.25
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.86
Costs to cover: 0.883%
Break-even: never at this rate

Slippage from MEXC: live order book, 51 min ago; Bitget: live order book, 56 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, 51 min ago	1.90 bp	8.4 bp −$8	96.4 bp −$964	935.7 bp −$93.6K	doesn't fit
Sell Bitget live order book, 56 min ago	8.56 bp	36.2 bp −$36	132.9 bp −$1,329	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
Aster OPNUSDT	+0.0100%	4h	0.05181	+0.165%	$7K	$18K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05172	+0.005%	$3.6M	$6.6M	25x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05173	+0.019%	$810K	$3.0M	20x	as long as short
MEXC OPN_USDTlong	+0.0100%	4h	0.05172	long leg	$822K	$318K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05174	+0.039%	$129K	$64K	25x	as long as short
Bitget OPNUSDTshort	+0.0100%	4h	0.05173	+0.019%	$585K	$174K	20x
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05170	−0.039%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05280	+2.088%	$1K	$1.5M	20x	as long as short
Bybit OPNUSDT	+0.0118%	4h	0.05172	0.000%	$726K	$3.2M	20x	as long as short
BloFin OPN-USDT	+0.0157%	4h	0.05174	+0.039%	$181K	$5K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX OPN-USDT	+0.0314%	4h	0.05173	+0.019%	—	$1.7M	—	as long as short
Gate OPN_USDT	+0.0806%	4h	0.05185	+0.251%	$211K	$175K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0873%	1h	0.05173	+0.012%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.2696%	1h	0.05262	+1.750%	$14K	$6K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.4010%	1h	0.05177	+0.089%	$4K	$5K	20x	as long as short