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 OKX+1.946%7-day average +2.073% · you sell dearer than you buy

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

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.226%+$23 · spread now +1.946%, 7d avg +2.073%

Together, before fees+0.200%+$20 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 0.127% cheaper against OKX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +2.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPN-USDT-SWAP	0.05140	0.0100	pay 0.0050% / 4h	10m 44s	$785K	$2.9M	20x
Short	SunX OPN-USDT	0.05240	0.0100	get 0.0050% / 4h	10m 44s	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.946%Rate

Funding earned: $0
Price spread: +1.946% → +2.073%: −$12.74
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$30.74
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	0.98 bp	24.3 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	256.90 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	−0.1165%	1h	0.05118	−0.428%	$2K	$8K	20x	as long as short
BloFin OPN-USDT	+0.0083%	4h	0.05137	−0.058%	$180K	$7K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05138	−0.042%	$7K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05141	+0.027%	$3.6M	$6.5M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05135	−0.097%	$728K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAPlong	+0.0100%	4h	0.05140	long leg	$785K	$2.9M	20x
MEXC OPN_USDT	+0.0100%	4h	0.05140	0.000%	$819K	$307K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05135	−0.097%	$115K	$57K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05137	−0.058%	$579K	$165K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05140	0.000%	—	$1.7M	—	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05140	0.000%	$2K	$6K	10x	as long as short
SunX OPN-USDTshort	+0.0100%	4h	0.05240	+1.946%	$2K	$1.4M	20x
Gate OPN_USDT	+0.0914%	4h	0.05139	−0.019%	$208K	$173K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1016%	1h	0.05141	+0.027%	$108	$311	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1928%	1h	0.05198	+1.119%	$15K	$15K	50x	as long as short