Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Gate against MEXC+0.031%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.031%, 7d avg −0.026%

Together, before fees−0.190%−$19 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: Gate is 0.057% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1278	0.0100	pay 0.0100% / 8h	26m 47s	$20.2M	$7.3M	300x
Short	Gate OP_USDT	0.1278	0.0100	get 0.0100% / 8h	26m 47s	$2.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → −0.026%: $5.74
Slippage, 4 orders: −$33.21
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.47
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Gate: live order book, 1 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 MEXC live order book, 2 min ago	0.39 bp	2.0 bp −$2	7.4 bp −$74	58.1 bp −$5,807	118.5 bp −$59.2K
Sell Gate live order book, 1 min ago	2.35 bp	16.9 bp −$17	53.5 bp −$535	doesn't fit	doesn't fit

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	−0.1633%	1h	0.1272	−0.469%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1277	−0.043%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1276	−0.156%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1279	+0.066%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1278	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1278	+0.013%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1277	−0.078%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0074%	8h	0.1279	+0.039%	$234K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1279	+0.094%	$285K	$928K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1279	+0.070%	$4.1M	$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	0.1279	+0.086%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1277	−0.046%	$20.6M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1276	−0.133%	$18.5M	$25.7M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1278	−0.039%	$6.1M	$30.4M	50x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1278	+0.031%	$2.0M	$1.5M	50x
MEXC OP_USDTlong	+0.0100%	8h	0.1278	long leg	$20.2M	$7.3M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1278	0.000%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1278	0.000%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1278	0.000%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1278	−0.023%	$124K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1279	+0.106%	$10K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	+0.051%	$320K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1279	+0.078%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1277	−0.047%	$195	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1279	+0.102%	$177K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1277	−0.069%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1278	−0.039%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1277	−0.047%	$1.0M	$280K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0357%	1h	0.1279	+0.079%	$803K	$747K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1277	−0.057%	$710	—	20x	as long as short