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 +0.055%

Price spread now: Gate against SunX−2.303%7-day average −2.015% · you buy dearer than you sell

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

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now −2.303%, 7d avg −2.015%

Together, before fees+0.292%+$29 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: Gate is 0.289% cheaper against SunX than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of −2.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPN-USDT	0.05210	0.0100	pay 0.0050% / 4h	2h 54m	$2K	$1.4M	20x
Short	Gate OPN_USDT	0.05090	0.0100	get 0.0050% / 4h	2h 54m	$204K	$158K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −2.303%Rate

Funding earned: $0
Price spread: −2.303% → −2.015%: −$28.86
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$51.86
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; Gate: 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 SunX live order book, 10 min ago	263.65 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 7 min ago	8.73 bp	36.0 bp −$36	doesn't fit	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
BloFin OPN-USDT	+0.0042%	4h	0.05093	−2.246%	$180K	$4K	50x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05101	−2.089%	$3.5M	$5.8M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05096	−2.188%	$719K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05101	−2.092%	$790K	$3.3M	20x	as long as short
Gate OPN_USDTshort	+0.0100%	4h	0.05090	−2.303%	$204K	$158K	50x
MEXC OPN_USDT	+0.0100%	4h	0.05085	−2.399%	$819K	$334K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05080	−2.495%	$132K	$79K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05095	−2.207%	$584K	$189K	20x	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05100	−2.111%	$3K	$5K	10x	as long as short
SunX OPN-USDTlong	+0.0100%	4h	0.05210	long leg	$2K	$1.4M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPNUSDT	+0.0114%	4h	0.05095	−2.208%	$7K	$15K	5x	as long as short
BingX OPN-USDT	+0.0118%	4h	0.05100	−2.111%	—	$1.6M	—	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0613%	1h	0.05105	−2.017%	—	—	10x	as long as short
Coinbase International OPN-PERP-INTX	+0.1128%	1h	0.05152	−1.111%	$13K	$4K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.2698%	1h	0.05049	−3.090%	$2K	$4K	20x	as long as short