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 −0.002%

Price spread now: OKX against MEXC−0.008%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.008%, 7d avg −0.030%

Together, before fees+0.001%$0 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: OKX is 0.022% dearer against MEXC than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1267	0.0100	pay 0.0100% / 8h	7h 51m	$20.2M	$7.3M	300x
Short	OKX OP-USDT-SWAP	0.1267	0.0100	get 0.0100% / 8h	7h 51m	$6.0M	$30.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → −0.030%: $2.24
Slippage, 4 orders: −$22.3
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.06
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from MEXC: live order book, 7 min ago; OKX: live order book, 2 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, 7 min ago	0.39 bp	3.9 bp −$4	7.9 bp −$79	62.2 bp −$6,223	113.4 bp −$56.7K
Sell OKX live order book, 2 min ago	0.39 bp	12.4 bp −$12	35.2 bp −$352	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	−0.1656%	1h	0.1263	−0.324%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1269	+0.170%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1265	−0.166%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0131%	8h	0.1266	−0.063%	$18.4M	$26.2M	75x	as long as short
ApeX Omni OPUSDT	−0.0024%	1h	0.1270	+0.229%	$44K	$723K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1268	+0.071%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1267	−0.008%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1269	+0.174%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0059%	8h	0.1267	−0.008%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0063%	8h	0.1271	+0.275%	$232K	$47K	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1269	+0.118%	$288K	$939K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1268	+0.095%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1268	+0.100%	$212K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1267	0.000%	$20.5M	$62.1M	75x	as long as short
OKX OP-USDT-SWAPshort	+0.0100%	8h	0.1267	−0.008%	$6.0M	$30.0M	50x
Gate OP_USDT	+0.0100%	8h	0.1268	+0.047%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDTlong	+0.0100%	8h	0.1267	long leg	$20.2M	$7.3M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1268	+0.071%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1268	+0.071%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1268	+0.071%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1267	+0.024%	$123K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1269	+0.163%	$10K	$383K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1269	+0.150%	$310K	$4.9M	10x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1266	−0.087%	$185	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1269	+0.174%	$175K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1267	+0.003%	$102K	$205K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1272	+0.357%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1268	+0.071%	$1.0M	$280K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0383%	1h	0.1267	−0.009%	$799K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1269	+0.132%	$705	—	20x	as long as short