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%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.039%

Price spread now: MEXC against Bitget−0.016%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 7 days+0.091%+$9 · spread now −0.016%, 7d avg +0.031%

Together, before fees+0.050%+$5 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: MEXC is 0.047% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPUSDT	0.1238	0.0100	pay 0.0100% / 8h	4h 05m	$5.9M	$6.3M	75x
Short	MEXC OP_USDT	0.1238	0.0100	get 0.0100% / 8h	4h 05m	$19.8M	$7.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → +0.031%: −$4.72
Slippage, 4 orders: −$23.2
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$39.92
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	8.06 bp	14.1 bp −$14	18.6 bp −$186	78.7 bp −$7,865	doesn't fit
Sell MEXC live order book, 2 min ago	0.81 bp	2.8 bp −$3	11.6 bp −$116	62.2 bp −$6,220	116.5 bp −$58.2K

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	−0.1650%	1h	0.1234	−0.323%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1238	−0.033%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0312%	1h	0.1237	−0.081%	$21K	$66K	50x	as long as short
Variational Omni OP	−0.0046%	8h	0.1238	+0.020%	$226K	$42K	—	as long as short
Orderly PERP_OP_USDC	−0.0004%	8h	0.1237	−0.081%	$6K	$52K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1239	+0.080%	$38K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1238	0.000%	$43K	$184K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1238	−0.007%	—	—	150x	as long as short
Gate OP_USDT	+0.0070%	8h	0.1237	−0.081%	$1.8M	$1.4M	50x	as long as short
OKX OP-USDT-SWAP	+0.0092%	8h	0.1237	−0.073%	$5.8M	$29.5M	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	0.1238	+0.008%	$267K	$900K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1239	+0.105%	$3.8M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1238	+0.024%	$210K	$266K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1238	−0.030%	$19.5M	$63.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1237	−0.097%	$18.1M	$26.1M	75x	as long as short
MEXC OP_USDTshort	+0.0100%	8h	0.1238	−0.016%	$19.8M	$7.3M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1237	−0.081%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDTlong	+0.0100%	8h	0.1238	long leg	$5.9M	$6.3M	75x
BingX OP-USDT	+0.0100%	8h	0.1237	−0.065%	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1237	−0.048%	$128K	$197K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1239	+0.119%	$8K	$379K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1239	+0.074%	$312K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1239	+0.081%	$44K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1237	−0.057%	$164	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1239	+0.105%	$176K	$245K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1237	−0.074%	$99K	$206K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1238	−0.039%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1238	−0.016%	$977K	$294K	75x	as long as short
Reya OPRUSDPERP	+0.0435%	1h	0.1237	−0.053%	$688	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0527%	1h	0.1238	+0.010%	$767K	$764K	20x	as long as short