OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.10 per $10,000 · paid last 24h 0.000%

Price spread now: BloFin against MEXC−0.098%109s7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.620% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now −0.098%, 7d avg +0.036%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.133% cheaper against MEXC than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.036%). Swap the legs. The two prices were read 109 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	MEXC OPN_USDT	0.05114	0.0100	pay 0.0050% / 4h	1h 29m	$816K	$308K	50x
Short	BloFin OPN-USDT	0.05109	0.0081	get 0.0040% / 4h	1h 29m	$182K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$4
Price spread: −0.098% → +0.036%: −$13.34
Slippage, 4 orders: −$46
Fee MEXC: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$79.34
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from MEXC: live order book, 9 min ago; BloFin: 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, 9 min ago	3.87 bp	9.4 bp −$9	84.4 bp −$844	691.8 bp −$69.2K	doesn't fit
Sell BloFin live order book, 8 min ago	0.97 bp	13.2 bp −$13	74.7 bp −$747	doesn't fit	doesn't fit

OPN on 15 exchanges

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
BloFin OPN-USDTshort	+0.0081%	4h	0.05109	−0.098%	$182K	$7K	50x
Aster OPNUSDT	+0.0100%	4h	0.05107	−0.139%	$7K	$16K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05115	+0.017%	$3.6M	$6.4M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05104	−0.196%	$729K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05116	+0.039%	$782K	$2.9M	20x	as long as short
MEXC OPN_USDTlong	+0.0100%	4h	0.05114	long leg	$816K	$308K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05109	−0.098%	$121K	$56K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05110	−0.078%	$578K	$168K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05118	+0.078%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05100	−0.274%	$2K	$6K	10x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05210	+1.877%	$1K	$1.4M	20x	as long as short
Gate OPN_USDT	+0.0468%	4h	0.05105	−0.176%	$205K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0984%	1h	0.05111	−0.063%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1968%	1h	0.05233	+2.329%	$15K	$15K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.3038%	1h	0.05115	+0.018%	$2K	$7K	20x	as long as short