OPG arbitrage explained
Right now OpenGradient (OPG) trades on 9 venues we scan: 9 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bybit spot at $0.1349 and the highest bid on KuCoin perp at $0.1351.
The widest OPG perpetual spread is between Bybit and KuCoin: long OPG on Bybit at $0.135 and short on KuCoin at $0.1351 for +0.13% gross, or -0.03% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best OPG route is to buy spot on Bybit and short the perpetual on KuCoin: +0.18% gross, -0.02% net, with +0.030% a day of funding on the short leg.
Spot–spot OPG arbitrage (buy on Bybit, withdraw, deposit and sell on Binance) shows 0.00% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small OPG gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: OPG funding rates · OPG spread charts · OpenGradient price · arbitrage scanner for all coins.