Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Aevo against Bybit+0.302%49s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Aevo

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.302% dearer against Bybit than usual: you sell high and buy low, +$30 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Bybit OPUSDT	0.1260	0.0100	pay 0.0100% / 8h	5h 57m	$18.3M	$25.3M	75x
Short	Aevo OP-PERP	0.1264	0.0104	get 0.0013% / 1h	57m 37s	$3K	$1K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now +0.302%Rate

Funding earned: $0.84
Price spread: +0.302% → 0.000%: $30.15
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: $3.99
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Aevo: 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 Bybit live order book, 1 min ago	0.40 bp	11.1 bp −$11	27.4 bp −$274	130.7 bp −$13.1K	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 29 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	0.1261	+0.063%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	+0.316%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1262	+0.126%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	+0.381%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	+0.309%	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0049%	8h	0.1260	+0.024%	$6.1M	$29.0M	50x	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1264	+0.302%	$6K	$46K	10x	as long as short
Variational Omni OP	+0.0055%	8h	0.1264	+0.272%	$223K	$50K	—	as long as short
Lighter OP	+0.0096%	1h	0.1262	+0.127%	$280K	$933K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1262	+0.127%	$3.7M	$3.0M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1262	+0.135%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1261	+0.063%	$20.3M	$60.6M	75x	as long as short
Bybit OPUSDTlong	+0.0100%	8h	0.1260	long leg	$18.3M	$25.3M	75x
Gate OP_USDT	+0.0100%	8h	0.1262	+0.111%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1261	+0.056%	$20.6M	$6.9M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1261	+0.063%	$2.9M	$6.8M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1261	+0.063%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1261	+0.056%	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1263	+0.238%	$121K	$195K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1265	+0.351%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1264	+0.330%	$311K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1266	+0.460%	$43K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1264	+0.302%	$180	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1265	+0.405%	$175K	$218K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1260	−0.005%	$101K	$392K	25x	as long as short
Aevo OP-PERPshort	+0.0104%	1h	0.1264	+0.302%	$3K	$1K	3x
Coinbase International OP-PERP-INTX	+0.0152%	1h	0.1265	+0.381%	$24K	$71K	50x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1260	+0.019%	$701	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0490%	1h	0.1265	+0.412%	$800K	$585K	20x	as long as short