Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0959%/8h= +105.0% APRpaid last 24h —

Price spread now: Deribit against MEXC−0.019%52s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$29 a day on $10k at the current rate. The two prices were read 52 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	0.05202	0.0100	pay 0.0050% / 4h	23m 27s	$828K	$325K	50x
Short	Deribit OPN_USDC-PERPETUAL	0.05201	0.1059	get 0.0132% / 1h	23m 27s	—	$203	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.019%Rate

Funding earned: $201.42
Price spread: −0.019% → 0.000%: −$1.92
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $188.5
Costs to cover: 0.110%
Break-even: 0.4 days

Slippage unknown: MEXC: live order book, 7 min ago; Deribit: no order-book sample. Net counts fees only.

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, 7 min ago	1.90 bp	8.4 bp −$8	96.4 bp −$964	935.7 bp −$93.6K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.05201	−0.020%	$8K	$18K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05202	+0.008%	$3.7M	$6.6M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05205	+0.058%	$736K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05213	+0.211%	$816K	$3.1M	20x	as long as short
MEXC OPN_USDTlong	+0.0100%	4h	0.05202	long leg	$828K	$325K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05204	+0.038%	$135K	$65K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05201	−0.019%	$594K	$177K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05209	+0.135%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05200	−0.038%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05310	+2.076%	$1K	$1.5M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPN-USDT	+0.0138%	4h	0.05227	+0.481%	$188K	$5K	50x	as long as short
Gate OPN_USDT	+0.0164%	4h	0.05204	+0.038%	$212K	$177K	50x	as long as short
Deribit OPN_USDC-PERPETUALshort	+0.1059%	1h	0.05201	−0.019%	—	$203	10x
Coinbase International OPN-PERP-INTX	+0.2488%	1h	0.05365	+3.137%	$14K	$6K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2895%	1h	0.05221	+0.368%	$4K	$6K	20x	as long as short