Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Backpack against ApeX Omni−0.281%84s7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$620.624% of the position
Funding, last 7 days+0.143%+$14 on $10k
+Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.281%, 7d avg −0.055%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.227% cheaper against ApeX Omni than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.055%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni OPUSDT | 0.1280 | 0.0100 | pay 0.0013% / 1h | 35m 35s | $46K | $722K | 50x |
| Short | Backpack OP_USDC_PERP | 0.1276 | 0.0100 | get 0.0013% / 1h | 35m 35s | $124K | $188K | 10x |
ApeX Omni OPUSDT
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against ApeX Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: −0.281% → −0.055%
- −$22.66
- Slippage, 4 orders
- −$42.4
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$85.05
- Costs to cover
- 0.624%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 43 min ago; Backpack: live order book, 43 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 ApeX Omni live order book, 43 min ago | 11.72 bp | 21.6 bp −$22 | 124.6 bp −$1,246 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 43 min ago | 0.39 bp | 11.8 bp −$12 | doesn't fit | 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 | 0.1273 | −0.547% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1277 | −0.260% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0344% | 1h | 0.1276 | −0.313% | $21K | $65K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1276 | −0.324% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1278 | −0.156% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1277 | −0.196% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0063% | 8h | 0.1278 | −0.156% | $6K | $50K | 10x | as long as short |
| Variational Omni OP | +0.0072% | 8h | 0.1276 | −0.289% | $234K | $54K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1277 | −0.219% | $290K | $922K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1277 | −0.211% | $4.1M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1277 | −0.224% | $213K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1276 | −0.328% | $20.6M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1275 | −0.383% | $18.5M | $25.8M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1276 | −0.313% | $6.0M | $30.4M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1276 | −0.289% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1276 | −0.328% | $20.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1276 | −0.313% | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1277 | −0.234% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1276 | −0.336% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1276 | −0.281% | $124K | $188K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1279 | −0.110% | $9K | $383K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1282 | +0.165% | $320K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDTlong | +0.0100% | 1h | 0.1280 | long leg | $46K | $722K | 50x | |
| SoDEX OP-USD | +0.0100% | 1h | 0.1277 | −0.242% | $199 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1277 | −0.203% | $176K | $236K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1276 | −0.348% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1278 | −0.195% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1278 | −0.133% | $1.0M | $291K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0357% | 1h | 0.1279 | −0.101% | $800K | $746K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1276 | −0.304% | $710 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
edgeX OPUSDC
GRVT OP_USDT_Perp
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP