Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: Gate against gTrade (Gains Network)−0.151%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 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 pays, the price is against you. Gate is 0.151% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.151% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 5.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) OP/USD	0.1269	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	56m 01s	—	—	150x
Short	Gate OP_USDT	0.1267	0.0100	get 0.0100% / 8h	5h 56m	$2.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GatebpOrdersPrice spread, now −0.151%Rate

Funding earned: $20.06
Price spread: −0.151% → 0.000%: −$15.13
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$20.07
Costs to cover: 0.250%
Break-even: 14.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Gate: live order book, 2 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	2.38 bp	26.9 bp −$27	62.5 bp −$625	doesn't fit	doesn't fit

gTrade (Gains Network): 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	0.1259	−0.766%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1269	+0.036%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1267	−0.159%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1269	+0.022%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USDlong	L +0.0004% / S −0.0004%	1h	0.1269	long leg	—	—	150x
OKX OP-USDT-SWAP	+0.0049%	8h	0.1266	−0.246%	$6.1M	$29.1M	50x	as long as short
Variational Omni OP	+0.0051%	8h	0.1268	−0.054%	$223K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1269	+0.022%	$6K	$45K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1269	−0.002%	$281K	$934K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1268	−0.096%	$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	0.1267	−0.162%	$212K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1267	−0.171%	$20.4M	$60.6M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1265	−0.293%	$18.4M	$25.3M	75x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1267	−0.151%	$2.0M	$1.5M	50x
MEXC OP_USDT	+0.0100%	8h	0.1267	−0.151%	$20.7M	$6.9M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1267	−0.136%	$2.9M	$6.8M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1266	−0.214%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1266	−0.214%	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1267	−0.143%	$121K	$195K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1265	−0.323%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1264	−0.344%	$311K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1266	−0.214%	$43K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1268	−0.049%	$182	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1269	+0.054%	$175K	$218K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1265	−0.280%	$101K	$392K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1268	−0.061%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0152%	1h	0.1265	−0.293%	$24K	$71K	50x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1268	−0.023%	$705	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0489%	1h	0.1269	+0.022%	$802K	$584K	20x	as long as short