Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bitget+0.063%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. dYdX is 0.063% dearer against Bitget than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1261	0.0100	pay 0.0100% / 8h	7h 34m	$6.0M	$6.4M	75x
Short	dYdX OP-USD	0.1262	0	get 0.0000% / 1h	34m 56s	$39K	$519	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$21
Price spread: +0.063% → 0.000%: $6.33
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$36.67
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; dYdX: 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 Bitget live order book, 3 min ago	3.95 bp	13.8 bp −$14	25.2 bp −$252	95.3 bp −$9,535	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.1656%	1h	0.1257	−0.317%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	+0.017%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1259	−0.159%	$20K	$63K	50x	as long as short
Bybit OPUSDT	−0.0041%	8h	0.1260	−0.048%	$18.3M	$26.0M	75x	as long as short
dYdX OP-USDshort	0.0000%	1h	0.1262	+0.063%	$39K	$519	10x
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1261	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1262	+0.060%	—	—	150x	as long as short
Variational Omni OP	+0.0048%	8h	0.1261	+0.012%	$230K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0055%	8h	0.1261	0.000%	$6K	$48K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1262	+0.087%	$283K	$948K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1263	+0.119%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1262	+0.078%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1261	+0.008%	$20.4M	$61.9M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1260	−0.095%	$6.1M	$29.9M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1262	+0.063%	$1.9M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1261	+0.016%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1261	0.000%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1261	long leg	$6.0M	$6.4M	75x
BingX OP-USDT	+0.0100%	8h	0.1261	−0.032%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1261	−0.032%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1263	+0.172%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1262	+0.074%	$320K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1264	+0.238%	$43K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1261	+0.008%	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1261	+0.032%	$174K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1260	−0.086%	$108K	$389K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1261	−0.007%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	+0.040%	$1.0M	$275K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0384%	1h	0.1263	+0.125%	$797K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1260	−0.076%	$701	—	20x	as long as short