OP

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After costs, if the gap returns to its 7d average, $10k−$132

spread now−0.546%7d average−0.001%fees + slippage, in and out−$77spread needed0.773%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1264	0.0100	pay 0.0100% / 8h	7h 55m	$2.9M	$7.4M	75x
Short	Bybit OPUSDT	0.1257	−0.0169	pay 0.0169% / 8h	7h 55m	$17.8M	$28.0M	75x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee KuCoinbpFee BybitbpOrdersClose when spread is

Slippage from KuCoin: live order book, 9 min ago; Bybit: live order book, 5 min ago.

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, 9 min ago	7.91 bp	25.3 bp −$25	71.7 bp −$717	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.40 bp	13.3 bp −$13	26.5 bp −$265	81.0 bp −$8,101	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International OP-PERP-INTX	−1.266%	−0.0304%	1h	$22K	$90K	50x	as long as short
Bybit OPUSDTshort	−0.546%	−0.0169%	8h	$17.8M	$28.0M	75x
OKX OP-USDT-SWAP	−0.451%	+0.0036%	8h	$6.0M	$33.3M	50x	as long as short
Binance OPUSDT	−0.395%	−0.0060%	8h	$20.9M	$69.2M	75x	as long as short
BloFin OP-USDT	−0.309%	+0.0053%	8h	$1.0M	$583K	75x	as long as short
Reya OPRUSDPERP	−0.295%	+0.0431%	1h	$701	—	20x	as long as short
Extended OP-USD	−0.271%	−0.0064%	1h	$101K	$212K	25x	as long as short
edgeX OPUSDC	−0.255%	+0.0100%	4h	$8K	$379K	10x	as long as short
BingX OP-USDT	−0.245%	+0.0100%	8h	—	$6.9M	—	as long as short
Bitget OPUSDT	−0.237%	+0.0100%	8h	$5.9M	$6.6M	75x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
ApeX Omni OPUSDT	−0.237%	+0.0100%	1h	$45K	$713K	50x	as long as short
Hyperliquid OP	−0.206%	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
MEXC OP_USDT	−0.206%	−0.0063%	8h	$20.2M	$8.7M	300x	as long as short
Gate OP_USDT	−0.127%	+0.0100%	8h	$1.8M	$1.6M	50x	as long as short
Lighter OP	−0.103%	+0.0096%	1h	$283K	$827K	15x	as long as short
Variational Omni OP	−0.068%	−0.0078%	8h	$232K	$46K	—	as long as short
KuCoin OPUSDTMlong	0.000%	+0.0100%	8h	$2.9M	$7.4M	75x
Aster OPUSDT	+0.014%	+0.0100%	8h	$214K	$470K	10x	as long as short
dYdX OP-USD	+0.015%	0.0000%	1h	$39K	$10	10x	as long as short
Orderly PERP_OP_USDC	+0.079%	−0.0077%	8h	$6K	$54K	10x	as long as short
SoDEX OP-USD	+0.111%	+0.0100%	1h	$196	$5K	5x	as long as short
Aevo OP-PERP	+0.118%	+0.0064%	1h	$4K	—	3x	as long as short
Backpack OP_USDC_PERP	+0.158%	+0.0100%	1h	$138K	$183K	10x	as long as short
gTrade (Gains Network) OP/USD	+0.158%	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
Deribit OP_USDC-PERPETUAL	+0.158%	0.0000%	1h	$47K	$200K	25x	as long as short
GMX OP/USD [OP-USDC]	+0.159%	L −0.1440% / S +0.0291%	1h	$13K	—	100x	as long as short
HTX OP-USDT	+0.190%	+0.0100%	8h	$181K	$275K	50x	as long as short
Kraken Futures PF_OPUSD	+0.239%	+0.0470%	1h	$785K	$675K	20x	as long as short
Injective OP/USDC PERP	+0.949%	+0.0033%	1h	$25K	$184K	12x	as long as short