Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against SunX−2.369%7-day average −2.090% · you buy dearer than you sell

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

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −2.369%, 7d avg −2.090%

Together, before fees−0.058%−$6 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: Binance is 0.279% cheaper against SunX than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −2.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPN-USDT	0.05360	0.0100	pay 0.0050% / 4h	28m 52s	$2K	$1.4M	20x
Short	Binance OPNUSDT	0.05233	0.0100	get 0.0050% / 4h	28m 52s	$3.7M	$6.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SunX. 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 SunXbpFee BinancebpOrdersPrice spread, now −2.369%Rate

Funding earned: $0
Price spread: −2.369% → −2.090%: −$27.94
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$45.94
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Binance: live order book, 9 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 SunX live order book, 6 min ago	261.68 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.91 bp	17.6 bp −$18	110.9 bp −$1,109	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	−0.2680%	1h	0.05229	−2.436%	$2K	$4K	20x	as long as short
BloFin OPN-USDT	+0.0042%	4h	0.05248	−2.090%	$184K	$4K	50x	as long as short
Binance OPNUSDTshort	+0.0100%	4h	0.05233	−2.369%	$3.7M	$6.0M	25x
Bybit OPNUSDT	+0.0100%	4h	0.05230	−2.425%	$729K	$2.9M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05232	−2.388%	$894K	$320K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05237	−2.295%	$144K	$67K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05233	−2.369%	$605K	$185K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05250	−2.052%	$3K	$5K	10x	as long as short
SunX OPN-USDTlong	+0.0100%	4h	0.05360	long leg	$2K	$1.4M	20x
Aster OPNUSDT	+0.0163%	4h	0.05242	−2.208%	$8K	$14K	5x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX OPN-USDT-SWAP	+0.0204%	4h	0.05235	−2.332%	$812K	$3.1M	20x	as long as short
BingX OPN-USDT	+0.0224%	4h	0.05232	−2.388%	—	$1.7M	—	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0398%	1h	0.05249	−2.069%	—	—	10x	as long as short
Gate OPN_USDT	+0.0902%	4h	0.05241	−2.220%	$211K	$171K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1664%	1h	0.05259	−1.877%	$14K	$5K	50x	as long as short