Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against HTX−0.133%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$790.791% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.080%−$8 · spread now −0.133%, 7d avg −0.016%

Together, before fees−0.080%−$8 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: Bitget is 0.117% cheaper against HTX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1276	0.0100	pay 0.0100% / 8h	7h 11m	$176K	$235K	50x
Short	Bitget OPUSDT	0.1274	0.0100	get 0.0100% / 8h	7h 11m	$6.0M	$6.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.016%: −$11.71
Slippage, 4 orders: −$55.06
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$90.77
Costs to cover: 0.791%
Break-even: never at this rate

Slippage from HTX: live order book, 60 min ago; Bitget: 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 HTX live order book, 60 min ago	7.85 bp	16.8 bp −$17	2713.4 bp −$27.1K	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	3.91 bp	16.6 bp −$17	28.7 bp −$287	123.2 bp −$12.3K	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	−0.1656%	1h	0.1272	−0.290%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1274	−0.120%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1279	+0.259%	$25K	$77K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1274	−0.165%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1274	−0.133%	$42K	$167K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1275	−0.077%	—	—	150x	as long as short
Variational Omni OP	+0.0051%	8h	0.1271	−0.376%	$232K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0058%	8h	0.1274	−0.133%	$6K	$48K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1275	−0.086%	$284K	$953K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1275	−0.063%	$4.0M	$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	0.1275	−0.059%	$213K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1273	−0.196%	$20.6M	$62.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1272	−0.259%	$18.5M	$26.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1273	−0.227%	$6.2M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1275	−0.094%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1273	−0.188%	$20.2M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1273	−0.212%	$2.9M	$7.1M	75x	as long as short
Bitget OPUSDTshort	+0.0100%	8h	0.1274	−0.133%	$6.0M	$6.4M	75x
BingX OP-USDT	+0.0100%	8h	0.1273	−0.180%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1273	−0.219%	$122K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1277	+0.101%	$4K	$392K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1276	+0.040%	$315K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1279	+0.259%	$44K	$725K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1274	−0.133%	$169	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1276	long leg	$176K	$235K	50x
Extended OP-USD	+0.0104%	1h	0.1272	−0.260%	$107K	$389K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1274	−0.100%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1277	+0.071%	$1.0M	$276K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0380%	1h	0.1276	−0.014%	$806K	$755K	20x	as long as short
Reya OPRUSDPERP	+0.0439%	1h	0.1273	−0.186%	$708	—	20x	as long as short