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: BingX against KuCoin+0.103%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$790.786% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days−0.080%−$8 · spread now +0.103%, 7d avg +0.013%

Together, before fees−0.078%−$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: BingX is 0.089% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1267	0.0100	pay 0.0100% / 8h	7h 03m	$2.9M	$7.0M	75x
Short	BingX OP-USDT	0.1268	0.0100	get 0.0100% / 8h	7h 03m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → +0.013%: $8.92
Slippage, 4 orders: −$56.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$69.68
Costs to cover: 0.786%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; BingX: 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 KuCoin live order book, 4 min ago	3.92 bp	24.7 bp −$25	67.3 bp −$673	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	1.17 bp	10.0 bp −$10	19.4 bp −$194	91.1 bp −$9,107	364.9 bp −$182.5K

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	0.1268	+0.079%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1272	+0.410%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1279	+0.947%	$25K	$77K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1267	0.000%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1272	+0.395%	$42K	$163K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1272	+0.395%	—	—	150x	as long as short
Variational Omni OP	+0.0055%	8h	0.1270	+0.222%	$232K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0059%	8h	0.1272	+0.395%	$6K	$47K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1268	+0.087%	$282K	$953K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1269	+0.174%	$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	0.1270	+0.253%	$212K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1267	−0.008%	$20.5M	$62.0M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1266	−0.110%	$18.4M	$26.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1266	−0.095%	$6.1M	$30.0M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1269	+0.182%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1267	0.000%	$20.1M	$7.4M	300x	as long as short
KuCoin OPUSDTMlong	+0.0100%	8h	0.1267	long leg	$2.9M	$7.0M	75x
Bitget OPUSDT	+0.0100%	8h	0.1267	0.000%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDTshort	+0.0100%	8h	0.1268	+0.103%	—	$6.8M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1270	+0.245%	$123K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1277	+0.761%	$4K	$389K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1274	+0.567%	$315K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1275	+0.631%	$44K	$725K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1271	+0.300%	$176	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1273	+0.434%	$176K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1268	+0.105%	$107K	$389K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1272	+0.402%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1271	+0.324%	$1.0M	$275K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0382%	1h	0.1272	+0.389%	$803K	$755K	20x	as long as short
Reya OPRUSDPERP	+0.0439%	1h	0.1272	+0.355%	$707	—	20x	as long as short