Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.133%

Price spread now: Coinbase International against Aster−0.424%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.335%−$33 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Coinbase International is 0.424% cheaper against Aster than usual: you would sell low and buy high (spread −0.424% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$42 on $10k: about 27 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.335%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster OPUSDT	0.1270	0.0100	pay 0.0100% / 8h	5h 32m	$212K	$229K	10x
Short	Coinbase International OP-PERP-INTX	0.1265	0.0152	get 0.0019% / 1h	32m 35s	$24K	$70K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.424%Rate

Funding earned: $10.92
Price spread: −0.424% → 0.000%: −$42.39
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$49.47
Costs to cover: 0.180%
Break-even: 38.7 days

Slippage unknown: Aster: live order book, 29 min ago; Coinbase International: 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 Aster live order book, 29 min ago	11.46 bp	28.1 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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.

OP on 30 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
Injective OP/USDC PERP	−0.1488%	1h	0.1262	−0.660%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1270	−0.020%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1270	−0.050%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1270	−0.030%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1270	−0.038%	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0034%	8h	0.1269	−0.125%	$6.1M	$29.1M	50x	as long as short
Variational Omni OP	+0.0049%	8h	0.1267	−0.274%	$224K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1270	−0.030%	$6K	$45K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1270	+0.009%	$282K	$934K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1270	+0.009%	$3.7M	$3.0M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDTlong	+0.0100%	8h	0.1270	long leg	$212K	$229K	10x
Binance OPUSDT	+0.0100%	8h	0.1270	−0.058%	$20.5M	$60.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1269	−0.125%	$18.5M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1270	−0.030%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1270	−0.062%	$20.9M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1269	−0.109%	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1269	−0.109%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1270	−0.030%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1270	−0.022%	$121K	$195K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1269	−0.074%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1271	+0.053%	$313K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1270	−0.030%	$44K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1270	−0.015%	$187	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1270	−0.070%	$175K	$216K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1269	−0.138%	$106K	$394K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1270	−0.026%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTXshort	+0.0152%	1h	0.1265	−0.424%	$24K	$70K	50x
BloFin OP-USDT	+0.0220%	8h	0.1271	+0.025%	$1.0M	$272K	75x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1270	−0.038%	$706	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0488%	1h	0.1271	+0.056%	$803K	$577K	20x	as long as short