Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.2937%/8h= +321.6% APRpaid last 24h −0.545%

Price spread now: Kraken Futures against SunX−1.959%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 1.959% cheaper against SunX than usual: you would sell low and buy high (spread −1.959% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$196 on $10k: about 2.2 days of funding at the current rate (+$88 a day).

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 30m	$1K	$1.4M	20x
Short	Kraken Futures PF_OPNUSD	0.05118	0.3037	get 0.0380% / 1h	30m 39s	$2K	$7K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −1.959%Rate

Funding earned: $616.72
Price spread: −1.959% → 0.000%: −$195.91
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $402.81
Costs to cover: 0.180%
Break-even: 2.4 days

Slippage unknown: SunX: live order book, 7 min ago; Kraken Futures: no order-book sample. 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, 7 min ago	264.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0081%	4h	0.05109	−2.126%	$182K	$7K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05110	−2.099%	$7K	$16K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05110	−2.100%	$3.6M	$6.4M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05105	−2.203%	$729K	$3.2M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05107	−2.165%	$780K	$2.9M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05108	−2.146%	$815K	$308K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05112	−2.069%	$122K	$56K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05108	−2.146%	$578K	$168K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05108	−2.146%	—	$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	+0.0452%	4h	0.05110	−2.107%	$206K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0828%	1h	0.05110	−2.109%	—	$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_OPNUSDshort	+0.3037%	1h	0.05118	−1.959%	$2K	$7K	20x