Funding you earn now, next payment 06:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h −0.088%
Price spread now: MEXC against Kraken Futures−0.242%7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$720.718% of the position
Funding, last 7 days−0.099%−$10 on $10k
+Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.242%, 7d avg −0.074%
=Funding pays, the price is against you. MEXC is 0.168% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.242% now, against its 7-day average of −0.074%). If the spread goes back, that is −$17 on $10k: about 22 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.099%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_OPUSD | 0.1245 | 0.0075 | pay 0.0009% / 1h | 25m 51s | $748K | $628K | 20x |
| Short | MEXC OP_USDT | 0.1242 | 0.0100 | get 0.0100% / 8h | 2h 25m | $22.6M | $7.7M | 300x |
Kraken Futures PF_OPUSD
MEXC OP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.26
- Price spread: −0.242% → −0.074%
- −$16.76
- Slippage, 4 orders
- −$61.77
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$83.27
- Costs to cover
- 0.718%
- Break-even
- 117.8 days
Slippage from Kraken Futures: live order book, 22 min ago; MEXC: 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 Kraken Futures live order book, 22 min ago | 15.31 bp | 35.2 bp −$35 | 168.2 bp −$1,682 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 3 min ago | 0.40 bp | 5.0 bp −$5 | 36.9 bp −$369 | 73.1 bp −$7,313 | 119.8 bp −$59.9K |
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 | −0.1583% | 1h | 0.1240 | −0.370% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1244 | −0.053% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0554% | 1h | 0.1243 | −0.129% | $40K | $139K | 25x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1246 | +0.143% | $39K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1244 | −0.068% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0016% | 8h | 0.1242 | −0.210% | $59K | $142K | 10x | as long as short |
| Variational Omni OP | +0.0023% | 8h | 0.1243 | −0.158% | $220K | $45K | — | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0075% | 1h | 0.1245 | long leg | $748K | $628K | 20x | |
| Bybit OPUSDT | +0.0096% | 8h | 0.1246 | +0.088% | $18.3M | $25.6M | 75x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1245 | +0.007% | $277K | $1.0M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
dYdX OP-USD
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Bybit OPUSDT
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1244 | −0.057% | $3.3M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1245 | +0.031% | $203K | $218K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1245 | +0.059% | $19.6M | $63.9M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1246 | +0.152% | $6.1M | $28.7M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1242 | −0.178% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDTshort | +0.0100% | 8h | 0.1242 | −0.242% | $22.6M | $7.7M | 300x | |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1241 | −0.290% | $2.8M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1243 | −0.129% | $5.7M | $6.6M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1244 | −0.049% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1242 | −0.202% | $104K | $214K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1250 | +0.415% | $379K | $766K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1249 | +0.343% | $306K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1250 | +0.433% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1243 | −0.137% | $187 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1244 | −0.025% | $171K | $236K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1242 | −0.222% | $99K | $505K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1242 | −0.170% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1247 | +0.192% | $26K | $59K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1245 | +0.015% | $992K | $275K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1243 | −0.156% | $691 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP