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 −0.039%

Price spread now: Binance against edgeX−0.449%60s7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as 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−$550.554% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 3 days (all we have)+0.306%+$31 · spread now −0.449%, 7d avg +0.050%

Together, before fees+0.232%+ Points / potential airdropedgeX: Active · farm board+$23 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: Binance is 0.500% cheaper against edgeX than usual: you would sell low and buy high, −$50 on $10k if it goes back to its 7-day average of +0.050%. The two prices were read 60 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	edgeX OPUSDC	0.1279	0.0100	pay 0.0050% / 4h	24m 31s	$10K	$382K	10x
Short	Binance OPUSDT	0.1274	0.0100	get 0.0100% / 8h	24m 31s	$20.6M	$61.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now −0.449%Rate

Funding earned: $0
Price spread: −0.449% → +0.050%: −$49.95
Slippage, 4 orders: −$36.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$105.36
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from edgeX: live order book, 54 min ago; Binance: live order book, 3 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 edgeX live order book, 54 min ago	7.81 bp	15.2 bp −$15	135.4 bp −$1,354	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.39 bp	11.2 bp −$11	24.0 bp −$240	90.6 bp −$9,058	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	0.1269	−0.809%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1274	−0.417%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1270	−0.731%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1275	−0.353%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1274	−0.418%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1274	−0.435%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1273	−0.496%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0072%	8h	0.1275	−0.328%	$234K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1275	−0.301%	$296K	$941K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1275	−0.324%	$4.1M	$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	0.1274	−0.405%	$213K	$241K	10x	as long as short
Binance OPUSDTshort	+0.0100%	8h	0.1274	−0.449%	$20.6M	$61.8M	75x
Bybit OPUSDT	+0.0100%	8h	0.1273	−0.512%	$18.4M	$25.8M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1273	−0.465%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1274	−0.402%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1275	−0.379%	$20.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1274	−0.418%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1274	−0.418%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1274	−0.418%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1274	−0.402%	$124K	$189K	10x	as long as short
edgeX OPUSDClong	+0.0100%	4h	0.1279	long leg	$10K	$382K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1278	−0.109%	$319K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1279	−0.027%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1274	−0.418%	$197	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1275	−0.371%	$176K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1273	−0.489%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1274	−0.421%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1274	−0.387%	$1.0M	$279K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0358%	1h	0.1276	−0.270%	$801K	$747K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1273	−0.463%	$708	—	20x	as long as short