Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Bybit against edgeX+0.357%71s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as 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−$490.487% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−1.070%−$107 · spread now +0.357%, 7d avg −0.017%

Together, before fees−1.119%+ Points / potential airdropedgeX: Active · farm board−$112 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: Bybit is 0.374% dearer against edgeX than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.017%. The two prices were read 71 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	0.1260	0.0100	pay 0.0050% / 4h	2h 02m	$4K	$388K	10x
Short	Bybit OPUSDT	0.1265	0.0100	get 0.0100% / 8h	6h 02m	$18.4M	$25.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.357%Rate

Funding earned: $0
Price spread: +0.357% → −0.017%: $37.4
Slippage, 4 orders: −$28.73
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.33
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago	3.96 bp	11.3 bp −$11	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.40 bp	11.6 bp −$12	28.4 bp −$284	86.3 bp −$8,628	doesn't fit

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	−0.1535%	1h	0.1258	−0.183%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1266	+0.470%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.483%	$25K	$72K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	+0.352%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1266	+0.452%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1266	+0.452%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1265	+0.372%	$6K	$46K	10x	as long as short
Variational Omni OP	+0.0054%	8h	0.1259	−0.069%	$223K	$50K	—	as long as short
OKX OP-USDT-SWAP	+0.0061%	8h	0.1265	+0.365%	$6.1M	$29.3M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1265	+0.388%	$281K	$949K	15x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1266	+0.484%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1264	+0.324%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1266	+0.452%	$20.4M	$61.1M	75x	as long as short
Bybit OPUSDTshort	+0.0100%	8h	0.1265	+0.357%	$18.4M	$25.5M	75x
Gate OP_USDT	+0.0100%	8h	0.1266	+0.452%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1266	+0.452%	$20.7M	$7.5M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1265	+0.372%	$2.9M	$6.8M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1266	+0.452%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1265	+0.412%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	+0.269%	$121K	$197K	10x	as long as short
edgeX OPUSDClong	+0.0100%	4h	0.1260	long leg	$4K	$388K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1259	−0.136%	$310K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	+0.055%	$43K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1265	+0.365%	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1265	+0.404%	$175K	$222K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1264	+0.322%	$101K	$392K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	+0.369%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1265	+0.403%	$704	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0461%	1h	0.1266	+0.477%	$799K	$583K	20x	as long as short