Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.039%

Price spread now: Bitget against Binance+0.039%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.039%, 7d avg −0.033%

Together, before fees−0.027%−$3 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 0.072% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1285	0.0100	pay 0.0100% / 8h	49m 13s	$20.8M	$61.7M	75x
Short	Bitget OPUSDT	0.1286	0.0100	get 0.0100% / 8h	49m 13s	$6.1M	$6.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.033%: $7.22
Slippage, 4 orders: −$28.4
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$43.18
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Bitget: live order book, 4 min ago.

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 Binance live order book, 8 min ago	0.39 bp	11.4 bp −$11	21.3 bp −$213	98.8 bp −$9,883	doesn't fit
Sell Bitget live order book, 4 min ago	3.88 bp	15.5 bp −$16	31.8 bp −$318	110.7 bp −$11.1K	doesn't fit

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	−0.1633%	1h	0.1280	−0.428%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1286	+0.072%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1283	−0.194%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1287	+0.104%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1286	+0.039%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1287	+0.100%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1285	−0.039%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0080%	8h	0.1286	+0.069%	$236K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1287	+0.124%	$290K	$920K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1288	+0.179%	$4.2M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1287	+0.102%	$215K	$241K	10x	as long as short
Binance OPUSDTlong	+0.0100%	8h	0.1285	long leg	$20.8M	$61.7M	75x
Bybit OPUSDT	+0.0100%	8h	0.1285	−0.054%	$18.7M	$25.7M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1286	+0.008%	$6.1M	$30.5M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1287	+0.086%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1286	+0.062%	$20.4M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1286	+0.039%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDTshort	+0.0100%	8h	0.1286	+0.039%	$6.1M	$6.3M	75x
BingX OP-USDC	+0.0100%	8h	0.1286	+0.039%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1285	0.000%	$125K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1287	+0.108%	$11K	$383K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1287	+0.117%	$322K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1287	+0.117%	$46K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1286	+0.008%	$186	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1286	+0.054%	$178K	$233K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1285	−0.018%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1286	+0.026%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1286	+0.047%	$1.0M	$291K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0355%	1h	0.1286	+0.077%	$804K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1286	+0.027%	$715	—	20x	as long as short