Funding you earn now, next payment 04:00 UTC+0.1114%/8h= +122.0% APRnext payment +$5.57 per $10,000 · paid last 24h +0.055%
Price spread now: Gate against OKX−0.154%7-day average +0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs−$150as in the Price arb table
costs, in and out, $10k−$1291.289% of the position
Funding, last 7 days+0.075%+$8 on $10k
+Price spread, last 4 days (all we have)+0.283%+$28 · spread now −0.154%, 7d avg +0.060%
=Funding pays, the price is against you. Gate is 0.214% cheaper against OKX than usual: you would sell low and buy high (spread −0.154% now, against its 7-day average of +0.060%). If the spread goes back, that is −$21 on $10k: about 15 hours of funding at the current rate (+$33 a day). At the pace of the last 7 days (+0.075% in total) that is about 20 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.57 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX OPN-USDT-SWAP | 0.05191 | 0.0100 | pay 0.0050% / 4h | 2h 06m | $802K | $3.2M | 20x |
| Short | Gate OPN_USDT | 0.05183 | 0.1214 | get 0.0607% / 4h | 2h 06m | $207K | $160K | 50x |
OKX OPN-USDT-SWAP
Gate OPN_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $233.94
- Price spread: −0.154% → +0.060%
- −$21.44
- Slippage, 4 orders
- −$103.92
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- $83.57
- Costs to cover
- 1.289%
- Break-even
- 4.5 days
Slippage from OKX: live order book, 1 min ago; Gate: live order book, 55 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, 1 min ago | 2.89 bp | 28.5 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 55 min ago | 8.73 bp | 36.0 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
OPN on 14 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit OPN_USDC-PERPETUAL | +0.0040% | 1h | 0.05178 | −0.254% | — | — | 10x | as long as short |
| Bybit OPNUSDT | +0.0100% | 4h | 0.05185 | −0.116% | $717K | $2.9M | 20x | as long as short |
| OKX OPN-USDT-SWAPlong | +0.0100% | 4h | 0.05191 | long leg | $802K | $3.2M | 20x | |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05181 | −0.193% | $140K | $79K | 25x | as long as short |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05178 | −0.250% | $593K | $187K | 20x | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05170 | −0.405% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05290 | +1.907% | $2K | $1.4M | 20x | as long as short |
| Binance OPNUSDT | +0.0145% | 4h | 0.05185 | −0.121% | $3.6M | $5.8M | 25x | as long as short |
| MEXC OPN_USDT | +0.0154% | 4h | 0.05178 | −0.250% | $817K | $344K | 50x | as long as short |
| BingX OPN-USDT | +0.0188% | 4h | 0.05186 | −0.096% | — | $1.6M | — | as long as short |
Deribit OPN_USDC-PERPETUAL
Bybit OPNUSDT
KuCoin OPNUSDTM
Bitget OPNUSDT
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
Binance OPNUSDT
MEXC OPN_USDT
BingX OPN-USDTShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPNUSDT | +0.0222% | 4h | 0.05179 | −0.223% | $7K | $14K | 5x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.1128% | 1h | 0.05237 | +0.888% | $14K | $5K | 50x | as long as short |
| Gate OPN_USDTshort | +0.1214% | 4h | 0.05183 | −0.154% | $207K | $160K | 50x | |
| Kraken Futures PF_OPNUSD | +0.2657% | 1h | 0.05128 | −1.210% | $2K | $4K | 20x | as long as short |
Aster OPNUSDT
Coinbase International OPN-PERP-INTX
Kraken Futures PF_OPNUSD