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: Bitget against SunX−2.050%7-day average −2.145% · you buy dearer than you sell

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

Long on SunX Short on Bitget

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)−0.219%−$22 · spread now −2.050%, 7d avg −2.145%

Together, before fees−0.306%−$31 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: Bitget is 0.095% dearer against SunX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −2.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPN-USDT	0.05220	0.0100	pay 0.0050% / 4h	1h 31m	$1K	$1.4M	20x
Short	Bitget OPNUSDT	0.05113	0.0100	get 0.0050% / 4h	1h 31m	$579K	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −2.050%Rate

Funding earned: $0
Price spread: −2.050% → −2.145%: $9.51
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$10.49
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Bitget: live order book, 11 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	264.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 11 min ago	7.72 bp	34.8 bp −$35	192.1 bp −$1,921	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
BloFin OPN-USDT	+0.0042%	4h	0.05112	−2.069%	$182K	$7K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05111	−2.084%	$7K	$16K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05114	−2.038%	$3.6M	$6.4M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05110	−2.107%	$730K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05111	−2.088%	$781K	$2.9M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05112	−2.069%	$816K	$308K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05110	−2.107%	$121K	$57K	25x	as long as short
Bitget OPNUSDTshort	+0.0100%	4h	0.05113	−2.050%	$579K	$168K	20x
BingX OPN-USDT	+0.0100%	4h	0.05113	−2.050%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05110	−2.107%	$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-USDTlong	+0.0100%	4h	0.05220	long leg	$1K	$1.4M	20x
Gate OPN_USDT	+0.0466%	4h	0.05110	−2.107%	$206K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0709%	1h	0.05112	−2.061%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1968%	1h	0.05233	+0.251%	$15K	$15K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.3029%	1h	0.05131	−1.707%	$2K	$7K	20x	as long as short