Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against MEXC+0.115%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now +0.115%, 7d avg +0.027%

Together, before fees−0.003%$0 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: OKX is 0.088% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPN_USDT	0.05236	0.0100	pay 0.0050% / 4h	3h 30m	$854K	$329K	50x
Short	OKX OPN-USDT-SWAP	0.05242	0.0100	get 0.0050% / 4h	3h 30m	$810K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.115%Rate

Funding earned: $0
Price spread: +0.115% → +0.027%: $8.79
Slippage, 4 orders: −$46
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$51.21
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from MEXC: live order book, 15 min ago; OKX: live order book, 2 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	0.96 bp	3.6 bp −$4	16.3 bp −$163	610.8 bp −$61.1K	doesn't fit
Sell OKX live order book, 2 min ago	1.91 bp	24.4 bp −$24	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
Kraken Futures PF_OPNUSD	−0.2492%	1h	0.05224	−0.227%	$2K	$4K	20x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05236	0.000%	$3.6M	$6.2M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05236	0.000%	$725K	$2.9M	20x	as long as short
OKX OPN-USDT-SWAPshort	+0.0100%	4h	0.05242	+0.115%	$810K	$3.1M	20x
MEXC OPN_USDTlong	+0.0100%	4h	0.05236	long leg	$854K	$329K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05236	0.000%	$144K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05235	−0.019%	$605K	$185K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05239	+0.057%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05230	−0.115%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05340	+1.986%	$2K	$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
Aster OPNUSDT	+0.0111%	4h	0.05231	−0.095%	$8K	$15K	5x	as long as short
BloFin OPN-USDT	+0.0120%	4h	0.05227	−0.172%	$184K	$4K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0476%	1h	0.05236	+0.006%	—	—	10x	as long as short
Gate OPN_USDT	+0.0592%	4h	0.05237	+0.019%	$211K	$172K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1448%	1h	0.05232	−0.074%	$14K	$6K	50x	as long as short