Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against HTX+0.080%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.080% dearer against HTX than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OP-USDT	0.1241	0.0100	pay 0.0100% / 8h	7h 32m	$165K	$259K	50x
Short	gTrade (Gains Network) OP/USD	0.1242	L +0.0004% / S −0.0004%	get 0.0000% / 1h	32m 55s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.080%Rate

Funding earned: −$20.17
Price spread: +0.080% → 0.000%: $7.98
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$34.2
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 64 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 64 min ago	6.83 bp	20.5 bp −$21	3031.2 bp −$30.3K	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1328%	1h	0.1235	−0.459%	$34K	$63K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1164% / S +0.0246%	1h	0.1240	−0.048%	$13K	—	100x	as long as short
Orderly PERP_OP_USDC	−0.0048%	8h	0.1239	−0.137%	$12K	$235K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1240	−0.072%	$38K	$522	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1241	+0.024%	$31K	$165K	25x	as long as short
KuCoin OPUSDTM	+0.0004%	8h	0.1240	−0.056%	$2.9M	$6.1M	75x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1242	+0.080%	—	—	150x
Variational Omni OP	+0.0062%	8h	0.1241	+0.036%	$220K	$47K	—	as long as short
Lighter OP	+0.0096%	1h	0.1242	+0.129%	$286K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1242	+0.073%	$3.5M	$3.7M	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	0.1241	+0.043%	$200K	$214K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1241	+0.034%	$19.2M	$68.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1240	−0.024%	$18.1M	$26.5M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1242	+0.097%	$5.9M	$29.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1241	+0.064%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1242	+0.081%	$22.2M	$7.8M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1241	+0.024%	$5.7M	$6.9M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1241	0.000%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1241	0.000%	$111K	$224K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1242	+0.141%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1243	+0.211%	$310K	$5.4M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1243	+0.185%	$43K	$693K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1241	−0.008%	$189	$6K	5x	as long as short
HTX OP-USDTlong	+0.0100%	8h	0.1241	long leg	$165K	$259K	50x
Extended OP-USD	+0.0104%	1h	0.1241	+0.045%	$99K	$612K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1238	−0.237%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0112%	1h	0.1244	+0.266%	$25K	$69K	50x	as long as short
Kraken Futures PF_OPUSD	+0.0156%	1h	0.1243	+0.163%	$740K	$723K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1241	+0.048%	$994K	$322K	75x	as long as short
Reya OPRUSDPERP	+0.0445%	1h	0.1242	+0.122%	$691	—	20x	as long as short