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% APRpaid last 24h 0.000%

Price spread now: edgeX against Bitget+0.033%84s7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.620% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.250%+$25 · spread now +0.033%, 7d avg −0.049%

Together, before fees+0.284%+ Points / potential airdropedgeX: Active · farm board+$28 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: edgeX is 0.083% dearer against Bitget than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.049%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1265	0.0100	pay 0.0100% / 8h	2h 14m	$6.0M	$6.3M	75x
Short	edgeX OPUSDC	0.1265	0.0100	get 0.0050% / 4h	2h 14m	$8K	$381K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → −0.049%: $8.26
Slippage, 4 orders: −$40.96
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$53.7
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; edgeX: live order book, 9 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 Bitget live order book, 4 min ago	7.90 bp	16.8 bp −$17	29.3 bp −$293	105.5 bp −$10.5K	doesn't fit
Sell edgeX live order book, 9 min ago	7.90 bp	15.9 bp −$16	78.1 bp −$781	doesn't fit	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	−0.1658%	1h	0.1259	−0.474%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1264	−0.046%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−1.739%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	−0.007%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1265	−0.013%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0039%	8h	0.1264	−0.079%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0040%	8h	0.1264	−0.103%	$231K	$44K	—	as long as short
OKX OP-USDT-SWAP	+0.0088%	8h	0.1264	−0.103%	$5.9M	$29.9M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1265	0.000%	$271K	$907K	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	0.1265	+0.032%	$4.1M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1264	−0.102%	$212K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1264	−0.066%	$20.5M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1263	−0.174%	$18.4M	$25.4M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1264	−0.071%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1264	−0.055%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1263	−0.158%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1265	long leg	$6.0M	$6.3M	75x
BingX OP-USDC	+0.0100%	8h	0.1264	−0.079%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	−0.095%	$125K	$194K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1265	+0.033%	$8K	$381K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1265	−0.002%	$313K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1266	+0.079%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1264	−0.087%	$166	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1266	+0.079%	$175K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1264	−0.113%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	−0.007%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0136%	1h	0.1265	+0.025%	$782K	$731K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1264	−0.047%	$1.0M	$282K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1264	−0.095%	$703	—	20x	as long as short