Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: BingX against Backpack+0.024%7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$254as in the Funding arb table
Net, price: spread back to 7d avg − costs−$237as in the Price arb table
costs, in and out, $10k−$2402.401% of the position
Funding, last 7 days−0.140%−$14 on $10k
+Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.024%, 7d avg −0.009%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.033% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack OP_USDC_PERP | 0.1257 | 0.0100 | pay 0.0013% / 1h | 9m 05s | $117K | $206K | 10x |
| Short | BingX OP-USDC | 0.1257 | 0.0100 | get 0.0100% / 8h | 3h 09m | — | $1.6M | — |
Backpack OP_USDC_PERP
BingX OP-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. 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: +0.024% → −0.009%
- $3.27
- Slippage, 4 orders
- −$220.13
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$236.85
- Costs to cover
- 2.401%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 44 min ago; BingX: live order book, 7 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 Backpack live order book, 44 min ago | 1.18 bp | 11.0 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 7 min ago | 7.92 bp | 116.5 bp −$117 | 897.8 bp −$8,978 | 1128.7 bp −$112.9K | 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 | −0.1568% | 1h | 0.1255 | −0.135% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1257 | +0.055% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1259 | +0.164% | $39K | $532 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1258 | +0.103% | $41K | $138K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1258 | +0.082% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1270 | +1.058% | $25K | $56K | 50x | as long as short |
| Variational Omni OP | +0.0038% | 8h | 0.1258 | +0.105% | $223K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1257 | +0.024% | $6K | $46K | 10x | as long as short |
| Kraken Futures PF_OPUSD | +0.0057% | 1h | 0.1258 | +0.094% | $771K | $548K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0093% | 8h | 0.1258 | +0.080% | $6.1M | $28.3M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTX
Variational Omni OP
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1258 | +0.095% | $275K | $948K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1258 | +0.143% | $3.7M | $2.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1258 | +0.103% | $210K | $216K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1257 | +0.040% | $20.2M | $61.0M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1256 | −0.032% | $18.5M | $24.8M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1258 | +0.088% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1257 | +0.032% | $21.1M | $7.4M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1257 | +0.024% | $2.8M | $6.3M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1258 | +0.103% | $5.8M | $6.5M | 75x | as long as short |
| BingX OP-USDCshort | +0.0100% | 8h | 0.1257 | +0.024% | — | $1.6M | — | |
| Backpack OP_USDC_PERPlong | +0.0100% | 1h | 0.1257 | long leg | $117K | $206K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | +0.440% | $4K | $385K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1262 | +0.423% | $316K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1263 | +0.501% | $43K | $707K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1257 | +0.032% | $199 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1258 | +0.119% | $170K | $229K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1256 | −0.020% | $102K | $393K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1257 | +0.024% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1257 | +0.016% | $834K | $278K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0442% | 1h | 0.1257 | +0.034% | $699 | — | 20x | as long as short |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP