Funding arb · Price arb /

OPN

all OPN markets

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: MEXC against OKX+0.078%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$740.738% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.078%, 7d avg −0.031%

Together, before fees−0.185%−$19 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: MEXC is 0.109% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPN-USDT-SWAP	0.05106	0.0100	pay 0.0050% / 4h	51m 24s	$782K	$2.9M	20x
Short	MEXC OPN_USDT	0.05110	0.0100	get 0.0050% / 4h	51m 24s	$815K	$304K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → −0.031%: $10.92
Slippage, 4 orders: −$59.77
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$62.85
Costs to cover: 0.738%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; MEXC: live order book, 47 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, 4 min ago	0.98 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 47 min ago	3.87 bp	12.7 bp −$13	89.8 bp −$898	738.3 bp −$73.8K	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	−0.423%	$2K	$8K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05114	+0.150%	$7K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05107	+0.020%	$3.6M	$6.5M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05105	−0.020%	$727K	$3.1M	20x	as long as short
OKX OPN-USDT-SWAPlong	+0.0100%	4h	0.05106	long leg	$782K	$2.9M	20x
MEXC OPN_USDTshort	+0.0100%	4h	0.05110	+0.078%	$815K	$304K	50x
KuCoin OPNUSDTM	+0.0100%	4h	0.05112	+0.118%	$115K	$57K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05104	−0.039%	$577K	$169K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05106	0.000%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05100	−0.118%	$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-USDT	+0.0100%	4h	0.05210	+2.037%	$2K	$1.4M	20x	as long as short
BloFin OPN-USDT	+0.0133%	4h	0.05110	+0.078%	$180K	$7K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0554%	1h	0.05106	−0.008%	—	$203	10x	as long as short
Gate OPN_USDT	+0.0820%	4h	0.05118	+0.235%	$207K	$172K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1928%	1h	0.05163	+1.116%	$14K	$15K	50x	as long as short