Funding arb · Price arb /

OPN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against SunX−2.144%7-day average −2.074% · you buy dearer than you sell

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

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.055%−$5 · spread now −2.144%, 7d avg −2.074%

Together, before fees−0.055%−$5 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: KuCoin is 0.070% cheaper against SunX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −2.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPN-USDT	0.05270	0.0100	pay 0.0050% / 4h	2h 35m	$2K	$1.4M	20x
Short	KuCoin OPNUSDTM	0.05157	0.0100	get 0.0050% / 4h	2h 35m	$143K	$67K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −2.144%Rate

Funding earned: $0
Price spread: −2.144% → −2.074%: −$6.97
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$26.97
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; KuCoin: live order book, 20 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, 9 min ago	254.96 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 20 min ago	15.42 bp	181.6 bp −$182	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
Kraken Futures PF_OPNUSD	−0.2068%	1h	0.05138	−2.510%	$2K	$4K	20x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05164	−2.012%	$7K	$15K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05171	−1.879%	$3.6M	$6.3M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05165	−1.992%	$703K	$3.0M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05178	−1.746%	$802K	$3.1M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05169	−1.917%	$832K	$329K	50x	as long as short
KuCoin OPNUSDTMshort	+0.0100%	4h	0.05157	−2.144%	$143K	$67K	25x
Bitget OPNUSDT	+0.0100%	4h	0.05158	−2.125%	$595K	$184K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05174	−1.822%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05150	−2.277%	$3K	$5K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDTlong	+0.0100%	4h	0.05270	long leg	$2K	$1.4M	20x
BloFin OPN-USDT	+0.0111%	4h	0.05154	−2.201%	$181K	$4K	50x	as long as short
Gate OPN_USDT	+0.0260%	4h	0.05150	−2.277%	$208K	$168K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.1216%	1h	0.05257	−0.250%	$14K	$6K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.1516%	1h	0.05161	−2.066%	—	—	10x	as long as short