Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against HTX−0.450%77s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as 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−$660.655% of the position

Long on HTX Short on edgeX

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)+0.399%+$40 · spread now −0.450%, 7d avg −0.071%

Together, before fees+0.399%+ Points / potential airdropedgeX: Active · farm board+$40 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 0.379% cheaper against HTX than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of −0.071%. The two prices were read 77 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	HTX OP-USDT	0.1266	0.0100	pay 0.0100% / 8h	6h 01m	$175K	$221K	50x
Short	edgeX OPUSDC	0.1260	0.0100	get 0.0050% / 4h	2h 01m	$4K	$388K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.450%Rate

Funding earned: $0
Price spread: −0.450% → −0.071%: −$37.91
Slippage, 4 orders: −$44.53
Fee HTX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$103.44
Costs to cover: 0.655%
Break-even: never at this rate

Slippage from HTX: live order book, 65 min ago; edgeX: 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, 65 min ago	8.26 bp	20.8 bp −$21	2757.4 bp −$27.6K	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	3.96 bp	14.8 bp −$15	157.9 bp −$1,579	doesn't fit	doesn't fit

OP on 29 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	−0.1535%	1h	0.1258	−0.632%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1266	+0.018%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.027%	$25K	$72K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	−0.099%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1266	0.000%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1266	0.000%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0053%	8h	0.1265	−0.079%	$6K	$46K	10x	as long as short
Variational Omni OP	+0.0054%	8h	0.1259	−0.519%	$223K	$50K	—	as long as short
OKX OP-USDT-SWAP	+0.0061%	8h	0.1265	−0.103%	$6.1M	$29.3M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1265	−0.039%	$281K	$949K	15x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1266	−0.032%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1266	−0.018%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1265	−0.067%	$20.3M	$61.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1264	−0.126%	$18.4M	$25.5M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1266	0.000%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1265	−0.063%	$20.7M	$7.5M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1264	−0.158%	$2.9M	$6.8M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1265	−0.079%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1265	−0.071%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1265	−0.071%	$121K	$197K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1260	−0.450%	$4K	$388K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1259	−0.586%	$310K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	−0.395%	$43K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1265	−0.087%	$181	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1266	long leg	$175K	$221K	50x
Extended OP-USD	+0.0104%	1h	0.1264	−0.132%	$101K	$392K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	−0.083%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0440%	1h	0.1265	−0.049%	$704	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0461%	1h	0.1266	+0.025%	$799K	$583K	20x	as long as short