Funding you earn now, next payment 06:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.088%
Price spread now: MEXC against Kraken Futures−0.144%51s7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as 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−$700.697% of the position
Funding, last 7 days−0.099%−$10 on $10k
+Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.144%, 7d avg −0.074%
=Funding pays, the price is against you. MEXC is 0.069% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.144% now, against its 7-day average of −0.074%). If the spread goes back, that is −$7 on $10k: about 9.0 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.099%, so the current rate has only just turned in your favour. The two prices were read 51 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 | Kraken Futures PF_OPUSD | 0.1255 | 0.0074 | pay 0.0009% / 1h | 4m 23s | $753K | $632K | 20x |
| Short | MEXC OP_USDT | 0.1253 | 0.0100 | get 0.0100% / 8h | 2h 04m | $23.1M | $7.7M | 300x |
Kraken Futures PF_OPUSD
MEXC OP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.39
- Price spread: −0.144% → −0.074%
- −$6.92
- Slippage, 4 orders
- −$59.74
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$71.27
- Costs to cover
- 0.697%
- Break-even
- 99.6 days
Slippage from Kraken Futures: live order book, 44 min ago; MEXC: live order book, 4 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 Kraken Futures live order book, 44 min ago | 15.31 bp | 35.2 bp −$35 | 168.2 bp −$1,682 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 4 min ago | 0.40 bp | 3.0 bp −$3 | 7.6 bp −$76 | 55.1 bp −$5,506 | 112.3 bp −$56.1K |
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 | −0.1583% | 1h | 0.1246 | −0.693% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1253 | −0.108% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0547% | 1h | 0.1253 | −0.136% | $33K | $153K | 25x | as long as short |
| Orderly PERP_OP_USDC | −0.0011% | 8h | 0.1251 | −0.295% | $59K | $142K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1254 | −0.074% | $39K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1253 | −0.136% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0005% | 8h | 0.1253 | −0.101% | $222K | $46K | — | as long as short |
| Bybit OPUSDT | +0.0063% | 8h | 0.1252 | −0.199% | $18.4M | $25.7M | 75x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0074% | 1h | 0.1255 | long leg | $753K | $632K | 20x | |
| Lighter OP | +0.0096% | 1h | 0.1253 | −0.144% | $275K | $1.1M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Orderly PERP_OP_USDC
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Bybit OPUSDT
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX OP-USDT-SWAP | +0.0098% | 8h | 0.1252 | −0.223% | $6.2M | $29.0M | 50x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1252 | −0.207% | $3.4M | $3.3M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1255 | −0.006% | $205K | $213K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1252 | −0.185% | $19.6M | $64.8M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1253 | −0.136% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDTshort | +0.0100% | 8h | 0.1253 | −0.144% | $23.1M | $7.7M | 300x | |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1252 | −0.215% | $2.8M | $6.3M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1254 | −0.056% | $5.8M | $6.7M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1253 | −0.159% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1253 | −0.152% | $105K | $214K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1252 | −0.180% | $379K | $767K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1254 | −0.083% | $309K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1252 | −0.215% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1253 | −0.136% | $208 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1253 | −0.096% | $174K | $244K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1252 | −0.194% | $101K | $506K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1253 | −0.096% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1254 | −0.056% | $26K | $60K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1254 | −0.064% | $981K | $307K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1252 | −0.232% | $696 | — | 20x | as long as short |
OKX OP-USDT-SWAP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP