OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.91 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against OKX0.000%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1201.202% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now 0.000%, 7d avg −0.070%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.070% dearer against OKX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.070%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 31 hours. At the pace of the last 7 days (−0.113% in total) that is about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPN-USDT-SWAP	0.05265	0.0282	pay 0.0141% / 4h	1h 15m	$815K	$3.1M	20x
Short	Bitget OPNUSDT	0.05265	0.0100	get 0.0050% / 4h	1h 15m	$608K	$187K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$38.13
Price spread: 0.000% → −0.070%: $6.98
Slippage, 4 orders: −$98.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$151.33
Costs to cover: 1.202%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bitget: live order book, 45 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 OKX live order book, 2 min ago	3.81 bp	27.2 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 45 min ago	5.78 bp	28.0 bp −$28	129.3 bp −$1,293	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	−1.1573%	1h	0.05254	−0.213%	$2K	$4K	20x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05269	+0.076%	$738K	$2.9M	20x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05263	−0.038%	$145K	$68K	25x	as long as short
Bitget OPNUSDTshort	+0.0100%	4h	0.05265	0.000%	$608K	$187K	20x
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05270	+0.095%	$3K	$5K	10x	as long as short
SunX OPN-USDT	+0.0100%	4h	0.05370	+1.994%	$2K	$1.4M	20x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0263%	1h	0.05266	+0.028%	—	—	10x	as long as short
OKX OPN-USDT-SWAPlong	+0.0282%	4h	0.05265	long leg	$815K	$3.1M	20x
BingX OPN-USDT	+0.0298%	4h	0.05264	−0.019%	—	$1.6M	—	as long as short
BloFin OPN-USDT	+0.0314%	4h	0.05245	−0.380%	$184K	$4K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC OPN_USDT	+0.0326%	4h	0.05263	−0.038%	$836K	$340K	50x	as long as short
Binance OPNUSDT	+0.0330%	4h	0.05264	−0.013%	$3.6M	$5.9M	25x	as long as short
Aster OPNUSDT	+0.0426%	4h	0.05259	−0.114%	$8K	$14K	5x	as long as short
Coinbase International OPN-PERP-INTX	+0.1520%	1h	0.05278	+0.253%	$14K	$5K	50x	as long as short
Gate OPN_USDT	+0.1922%	4h	0.05270	+0.095%	$208K	$165K	50x	as long as short