Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against MEXC−0.019%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$497as in the Funding arb table

Net, price: spread back to 7d avg − costs−$510as in the Price arb table

costs, in and out, $10k−$5055.051% of the position

Long on MEXC Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.019%, 7d avg +0.026%

Together, before fees+0.184%+$18 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: KuCoin is 0.046% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPN_USDT	0.05140	0.0100	pay 0.0050% / 4h	2h 45m	$828K	$335K	50x
Short	KuCoin OPNUSDTM	0.05139	0.0100	get 0.0050% / 4h	2h 45m	$138K	$80K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.026%: −$4.58
Slippage, 4 orders: −$489.15
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$509.73
Costs to cover: 5.051%
Break-even: never at this rate

Slippage from MEXC: live order book, 15 min ago; KuCoin: live order book, 58 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, 15 min ago	1.94 bp	6.2 bp −$6	31.1 bp −$311	700.8 bp −$70.1K	doesn't fit
Sell KuCoin live order book, 58 min ago	12.59 bp	289.1 bp −$289	doesn't fit	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
Binance OPNUSDT	+0.0100%	4h	0.05147	+0.136%	$3.6M	$5.8M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05140	0.000%	$711K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05153	+0.253%	$797K	$3.3M	20x	as long as short
Gate OPN_USDT	+0.0100%	4h	0.05149	+0.175%	$206K	$159K	50x	as long as short
MEXC OPN_USDTlong	+0.0100%	4h	0.05140	long leg	$828K	$335K	50x
KuCoin OPNUSDTMshort	+0.0100%	4h	0.05139	−0.019%	$138K	$80K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05140	0.000%	$589K	$188K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05152	+0.233%	—	$1.6M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05130	−0.195%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05240	+1.946%	$1K	$1.4M	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	+0.0118%	4h	0.05133	−0.136%	$182K	$4K	50x	as long as short
Aster OPNUSDT	+0.0126%	4h	0.05132	−0.165%	$7K	$15K	5x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0822%	1h	0.05138	−0.047%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05160	+0.397%	$13K	$5K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2664%	1h	0.05113	−0.526%	$2K	$4K	20x	as long as short