Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.039%

Price spread now: Binance against edgeX−0.142%50s7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as 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−$530.529% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 3 days (all we have)−0.449%−$45 · spread now −0.142%, 7d avg +0.055%

Together, before fees−0.523%+ Points / potential airdropedgeX: Active · farm board−$52 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: Binance is 0.197% cheaper against edgeX than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.055%. The two prices were read 50 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	edgeX OPUSDC	0.1239	0.0100	pay 0.0050% / 4h	6m 45s	$8K	$379K	10x
Short	Binance OPUSDT	0.1238	0.0100	get 0.0100% / 8h	4h 06m	$19.5M	$63.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now −0.142%Rate

Funding earned: $0
Price spread: −0.142% → +0.055%: −$19.7
Slippage, 4 orders: −$33.91
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$72.61
Costs to cover: 0.529%
Break-even: never at this rate

Slippage from edgeX: live order book, 26 min ago; Binance: live order book, 10 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 edgeX live order book, 26 min ago	8.08 bp	16.3 bp −$16	133.1 bp −$1,331	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.40 bp	10.9 bp −$11	26.9 bp −$269	104.6 bp −$10.5K	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	−0.1650%	1h	0.1234	−0.441%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1240	+0.017%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0312%	1h	0.1237	−0.199%	$21K	$66K	50x	as long as short
Variational Omni OP	−0.0046%	8h	0.1238	−0.099%	$226K	$42K	—	as long as short
Orderly PERP_OP_USDC	−0.0004%	8h	0.1238	−0.118%	$6K	$52K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1239	−0.039%	$38K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1239	−0.038%	$43K	$184K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1240	+0.028%	—	—	150x	as long as short
Gate OP_USDT	+0.0070%	8h	0.1238	−0.118%	$1.8M	$1.4M	50x	as long as short
OKX OP-USDT-SWAP	+0.0091%	8h	0.1237	−0.191%	$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	0.1239	−0.054%	$267K	$900K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1240	+0.003%	$3.8M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1238	−0.081%	$210K	$266K	10x	as long as short
Binance OPUSDTshort	+0.0100%	8h	0.1238	−0.142%	$19.5M	$63.5M	75x
Bybit OPUSDT	+0.0100%	8h	0.1237	−0.207%	$18.1M	$26.1M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1238	−0.143%	$19.8M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1238	−0.118%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1238	−0.118%	$5.9M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1237	−0.191%	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1238	−0.094%	$128K	$197K	10x	as long as short
edgeX OPUSDClong	+0.0100%	4h	0.1239	long leg	$8K	$379K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1239	−0.045%	$312K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1239	−0.038%	$44K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1238	−0.127%	$160	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1240	+0.051%	$177K	$244K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1237	−0.203%	$99K	$206K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1239	−0.038%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1238	−0.135%	$977K	$294K	75x	as long as short
Reya OPRUSDPERP	+0.0435%	1h	0.1239	−0.022%	$689	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0527%	1h	0.1238	−0.078%	$767K	$764K	20x	as long as short