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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bitget−0.156%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$890.886% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.124%+$12 · spread now −0.156%, 7d avg −0.018%

Together, before fees+0.125%+$13 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: KuCoin is 0.138% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1280	0.0100	pay 0.0100% / 8h	1h 15m	$6.1M	$6.2M	75x
Short	KuCoin OPUSDTM	0.1278	0.0100	get 0.0100% / 8h	1h 15m	$2.9M	$7.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.156%Rate

Funding earned: $0
Price spread: −0.156% → −0.018%: −$13.8
Slippage, 4 orders: −$64.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$102.37
Costs to cover: 0.886%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; KuCoin: 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 Bitget live order book, 3 min ago	3.91 bp	17.6 bp −$18	27.4 bp −$274	86.6 bp −$8,664	doesn't fit
Sell KuCoin live order book, 3 min ago	3.91 bp	18.4 bp −$18	65.0 bp −$650	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	−0.1710%	1h	0.1274	−0.469%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1279	−0.048%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1269	−0.859%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1280	+0.002%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	−0.016%	—	—	150x	as long as short
Variational Omni OP	+0.0060%	8h	0.1280	−0.032%	$233K	$53K	—	as long as short
Orderly PERP_OP_USDC	+0.0060%	8h	0.1279	−0.078%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1281	+0.070%	$286K	$918K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1281	+0.086%	$4.1M	$2.9M	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	0.1280	+0.008%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1280	−0.023%	$20.8M	$61.9M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1279	−0.062%	$18.8M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1280	−0.023%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	0.000%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1280	−0.039%	$20.2M	$7.1M	300x	as long as short
KuCoin OPUSDTMshort	+0.0100%	8h	0.1278	−0.156%	$2.9M	$7.5M	75x
Bitget OPUSDTlong	+0.0100%	8h	0.1280	long leg	$6.1M	$6.2M	75x
BingX OP-USDT	+0.0100%	8h	0.1279	−0.047%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.078%	$125K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1279	−0.069%	$9K	$384K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	−0.071%	$320K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1279	−0.078%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1280	−0.039%	$185	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1279	−0.047%	$177K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1279	−0.097%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1280	−0.016%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1278	−0.125%	$1.0M	$289K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0225%	1h	0.1281	+0.092%	$801K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1279	−0.090%	$711	—	20x	as long as short