Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.004%

Price spread now: gTrade (Gains Network) against Binance+0.302%7-day average — · you sell dearer than you buy

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

Long on Binance Short on gTrade (Gains Network)

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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.302% dearer against Binance than usual: you sell high and buy low (spread +0.302% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1259	0.0100	pay 0.0100% / 8h	3h 22m	$20.4M	$61.0M	75x
Short	gTrade (Gains Network) OP/USD	0.1263	L +0.0004% / S −0.0004%	get 0.0000% / 1h	22m 46s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.302%Rate

Funding earned: −$20.17
Price spread: +0.302% → 0.000%: $30.18
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$10
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Binance: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. 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 Binance live order book, 5 min ago	0.40 bp	11.0 bp −$11	25.6 bp −$256	114.3 bp −$11.4K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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 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	0.1258	−0.095%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1263	+0.322%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1261	+0.125%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1263	+0.302%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1263	+0.302%	—	—	150x
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1270	+0.858%	$25K	$58K	50x	as long as short
Variational Omni OP	+0.0045%	8h	0.1264	+0.367%	$223K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1263	+0.302%	$6K	$46K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0057%	1h	0.1263	+0.306%	$775K	$553K	20x	as long as short
OKX OP-USDT-SWAP	+0.0092%	8h	0.1259	−0.024%	$6.2M	$28.4M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1260	+0.087%	$274K	$946K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1261	+0.135%	$3.7M	$2.8M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1261	+0.137%	$211K	$216K	10x	as long as short
Binance OPUSDTlong	+0.0100%	8h	0.1259	long leg	$20.4M	$61.0M	75x
Bybit OPUSDT	+0.0100%	8h	0.1259	−0.016%	$18.5M	$24.9M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1261	+0.111%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1259	0.000%	$21.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1262	+0.222%	$2.8M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1259	−0.016%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1261	+0.143%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1262	+0.191%	$117K	$207K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1265	+0.456%	$4K	$385K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1264	+0.363%	$306K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1266	+0.540%	$43K	$709K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1262	+0.214%	$195	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1263	+0.294%	$171K	$231K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1260	+0.048%	$102K	$393K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1263	+0.272%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1261	+0.159%	$1.0M	$279K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1263	+0.267%	$702	—	20x	as long as short