Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against HTX+0.159%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)−0.393%−$39 · spread now +0.159%, 7d avg −0.025%

Together, before fees−0.541%−$54 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: Gate is 0.183% dearer against HTX than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1262	0.0100	pay 0.0100% / 8h	3h 02m	$171K	$229K	50x
Short	Gate OP_USDT	0.1264	0.0100	get 0.0100% / 8h	3h 02m	$2.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against HTX. 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 HTXbpFee GatebpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → −0.025%: $18.31
Slippage, 4 orders: −$57.19
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$65.88
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from HTX: live order book, 49 min ago; Gate: live order book, 5 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 HTX live order book, 49 min ago	7.42 bp	15.7 bp −$16	2545.7 bp −$25.5K	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.57 bp	15.5 bp −$16	57.5 bp −$575	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	−0.1568%	1h	0.1253	−0.682%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	−0.085%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1264	+0.172%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1261	−0.048%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1261	−0.078%	—	—	150x	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1270	+0.666%	$25K	$56K	50x	as long as short
Variational Omni OP	+0.0040%	8h	0.1261	−0.077%	$223K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1260	−0.127%	$6K	$46K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0057%	1h	0.1262	+0.070%	$773K	$547K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1265	+0.269%	$275K	$950K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX OP-USDT-SWAP	+0.0100%	8h	0.1262	+0.048%	$6.2M	$28.5M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1265	+0.309%	$3.7M	$2.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1265	+0.291%	$211K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1264	+0.189%	$20.4M	$61.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1263	+0.079%	$18.5M	$24.9M	75x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1264	+0.159%	$2.0M	$1.5M	50x
MEXC OP_USDT	+0.0100%	8h	0.1263	+0.119%	$21.2M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1264	+0.190%	$2.8M	$6.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1263	+0.111%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1263	+0.087%	—	$6.3M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1261	−0.040%	$117K	$204K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1260	−0.090%	$4K	$386K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1260	−0.127%	$308K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	−0.048%	$43K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1262	0.000%	$194	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1262	long leg	$171K	$229K	50x
Extended OP-USD	+0.0104%	1h	0.1261	−0.028%	$104K	$466K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1260	−0.125%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	+0.024%	$1.0M	$278K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1259	−0.172%	$700	—	20x	as long as short