Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against MEXC+2.057%7-day average +2.105% · you sell dearer than you buy

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

Long on MEXC Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.212%+$21 · spread now +2.057%, 7d avg +2.105%

Together, before fees+0.293%+$29 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: SunX is 0.049% 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 +2.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPN_USDT	0.05105	0.0100	pay 0.0050% / 4h	50m 40s	$814K	$304K	50x
Short	SunX OPN-USDT	0.05210	0.0100	get 0.0050% / 4h	50m 40s	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.057%Rate

Funding earned: $0
Price spread: +2.057% → +2.105%: −$4.85
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$16.85
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 48 min ago; SunX: live order book, 7 min ago. 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, 48 min ago	3.87 bp	9.4 bp −$9	84.4 bp −$844	691.8 bp −$69.2K	doesn't fit
Sell SunX live order book, 7 min ago	257.88 bp	doesn't fit	doesn't fit	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
Kraken Futures PF_OPNUSD	−0.1173%	1h	0.05084	−0.403%	$2K	$8K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05104	−0.014%	$7K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05108	+0.064%	$3.6M	$6.5M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05102	−0.059%	$727K	$3.1M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05116	+0.215%	$782K	$2.9M	20x	as long as short
MEXC OPN_USDTlong	+0.0100%	4h	0.05105	long leg	$814K	$304K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05105	0.000%	$115K	$57K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05104	−0.020%	$577K	$169K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05109	+0.078%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05100	−0.098%	$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-USDTshort	+0.0100%	4h	0.05210	+2.057%	$2K	$1.4M	20x
BloFin OPN-USDT	+0.0133%	4h	0.05110	+0.098%	$180K	$7K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0554%	1h	0.05106	+0.012%	—	$203	10x	as long as short
Gate OPN_USDT	+0.0824%	4h	0.05107	+0.039%	$207K	$172K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1928%	1h	0.05163	+1.136%	$14K	$15K	50x	as long as short