Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Bitget−0.826%84s7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.617% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+1.110%+$111 · spread now −0.826%, 7d avg −0.049%

Together, before fees+1.144%+ Points / potential airdropedgeX: Active · farm board+$114 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: edgeX is 0.777% cheaper against Bitget than usual: you would sell low and buy high, −$78 on $10k if it goes back to its 7-day average of −0.049%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1269	0.0100	pay 0.0100% / 8h	2h 22m	$6.0M	$6.2M	75x
Short	edgeX OPUSDC	0.1259	0.0100	get 0.0050% / 4h	2h 22m	$10K	$377K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now −0.826%Rate

Funding earned: $0
Price spread: −0.826% → −0.049%: −$77.72
Slippage, 4 orders: −$40.7
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$139.41
Costs to cover: 0.617%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; edgeX: live order book, 1 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 Bitget live order book, 1 min ago	3.95 bp	13.1 bp −$13	22.9 bp −$229	107.9 bp −$10.8K	doesn't fit
Sell edgeX live order book, 1 min ago	7.90 bp	15.9 bp −$16	78.1 bp −$781	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	−0.1658%	1h	0.1261	−0.630%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1270	+0.061%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−2.049%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1268	−0.083%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1270	+0.079%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1270	+0.079%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0035%	8h	0.1268	−0.079%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0039%	8h	0.1263	−0.441%	$230K	$44K	—	as long as short
Lighter OP	+0.0096%	1h	0.1270	+0.095%	$272K	$907K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1271	+0.134%	$4.1M	$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	0.1270	+0.067%	$213K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1269	+0.008%	$20.5M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1268	−0.087%	$18.5M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1268	−0.047%	$5.9M	$30.0M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1268	−0.079%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1268	−0.063%	$20.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1268	−0.079%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1269	long leg	$6.0M	$6.2M	75x
BingX OP-USDC	+0.0100%	8h	0.1268	−0.079%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1269	−0.016%	$125K	$192K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1259	−0.826%	$10K	$377K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1262	−0.551%	$312K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1258	−0.867%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1269	+0.008%	$174	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1269	+0.016%	$176K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1269	−0.031%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1269	+0.005%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0135%	1h	0.1270	+0.085%	$785K	$731K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1266	−0.244%	$1.0M	$282K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1269	+0.017%	$706	—	20x	as long as short