Funding arb · Price arb /

OPN

all OPN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.2957%/8h= +323.8% APRpaid last 24h −0.545%

Price spread now: Kraken Futures against MEXC−0.316%7-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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.316% cheaper against MEXC than usual: you would sell low and buy high (spread −0.316% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 9 hours of funding at the current rate (+$89 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPN_USDT	0.05100	0.0100	pay 0.0050% / 4h	1h 28m	$814K	$308K	50x
Short	Kraken Futures PF_OPNUSD	0.05084	0.3057	get 0.0382% / 1h	28m 15s	$2K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.316%Rate

Funding earned: $620.97
Price spread: −0.316% → 0.000%: −$31.57
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $575.4
Costs to cover: 0.140%
Break-even: 0.5 days

Slippage unknown: MEXC: live order book, 10 min ago; Kraken Futures: 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, 10 min ago	3.87 bp	9.4 bp −$9	84.4 bp −$844	691.8 bp −$69.2K	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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 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
Aster OPNUSDT	+0.0100%	4h	0.05096	−0.071%	$7K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05098	−0.043%	$3.6M	$6.5M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05094	−0.118%	$725K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05101	+0.020%	$777K	$2.9M	20x	as long as short
MEXC OPN_USDTlong	+0.0100%	4h	0.05100	long leg	$814K	$308K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05106	+0.118%	$121K	$56K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05095	−0.098%	$578K	$170K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05098	−0.039%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05090	−0.196%	$2K	$6K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05200	+1.961%	$1K	$1.4M	20x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPN-USDT	+0.0128%	4h	0.05116	+0.314%	$184K	$7K	50x	as long as short
Gate OPN_USDT	+0.0464%	4h	0.05098	−0.039%	$206K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1125%	1h	0.05099	−0.010%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1968%	1h	0.05163	+1.235%	$14K	$15K	50x	as long as short
Kraken Futures PF_OPNUSDshort	+0.3057%	1h	0.05084	−0.316%	$2K	$8K	20x