Funding arb · Price arb /

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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: gTrade (Gains Network) against BingX+0.124%7-day average — · you sell dearer than you buy

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

Long on BingX 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 0.124% dearer against BingX than usual: you sell high and buy low (spread +0.124% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OP-USDT	0.1269	0.0100	pay 0.0100% / 8h	5h 10m	—	$6.3M	—
Short	gTrade (Gains Network) OP/USD	0.1271	L +0.0004% / S −0.0004%	get 0.0000% / 1h	10m 07s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.124%Rate

Funding earned: −$20.17
Price spread: +0.124% → 0.000%: $12.37
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$27.8
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: 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 BingX live order book, 5 min ago	0.39 bp	9.9 bp −$10	19.2 bp −$192	92.2 bp −$9,220	386.1 bp −$193.0K
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	−0.1488%	1h	0.1265	−0.323%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1270	+0.080%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1271	+0.181%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1270	+0.071%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1271	+0.124%	—	—	150x
OKX OP-USDT-SWAP	+0.0029%	8h	0.1269	−0.024%	$6.2M	$28.9M	50x	as long as short
Variational Omni OP	+0.0051%	8h	0.1269	+0.024%	$224K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1270	+0.071%	$6K	$44K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1270	+0.095%	$281K	$936K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1270	+0.110%	$3.7M	$3.0M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1271	+0.128%	$212K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1269	+0.025%	$20.6M	$60.6M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1269	−0.032%	$18.6M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1270	+0.071%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1269	+0.016%	$21.0M	$7.1M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1268	−0.087%	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1270	+0.071%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDTlong	+0.0100%	8h	0.1269	long leg	—	$6.3M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1269	−0.016%	$121K	$194K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1272	+0.211%	$4K	$389K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1270	+0.070%	$313K	$4.8M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1273	+0.307%	$44K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1269	+0.016%	$185	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1271	+0.181%	$175K	$216K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1269	−0.018%	$106K	$389K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1270	+0.063%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0152%	1h	0.1278	+0.701%	$25K	$71K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1272	+0.197%	$1.0M	$280K	75x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1269	+0.030%	$706	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0488%	1h	0.1271	+0.133%	$802K	$571K	20x	as long as short