Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.030%
Price spread now: dYdX against Backpack−0.252%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.252% cheaper against Backpack than usual: you would sell low and buy high (−$25 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack OP_USDC_PERP | 0.1228 | 0.0100 | pay 0.0013% / 1h | 31m 57s | $105K | $204K | 10x |
| Short | dYdX OP-USD | 0.1225 | 0 | get 0.0000% / 1h | 31m 57s | $38K | $522 | 10x |
Backpack OP_USDC_PERP
dYdX OP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$21
- Price spread: −0.252% → 0.000%
- −$25.2
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$66.2
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 14 min ago; dYdX: no order-book sample. Net counts fees only.
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, 14 min ago | 0.81 bp | 13.2 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell dYdX no order-book sample | — | — | — | — | — |
dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
OP on 30 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| GMX OP/USD [OP-USDC] | L −0.0886% / S +0.0200% | 1h | 0.1228 | +0.040% | $13K | — | 100x | as long as short |
| Hyperliquid OP | −0.0556% | 1h | 0.1228 | −0.008% | $3.7M | $3.9M | 5x | as long as short |
| Binance OPUSDT | −0.0084% | 8h | 0.1228 | +0.010% | $18.9M | $66.3M | 75x | as long as short |
| MEXC OP_USDT | −0.0082% | 8h | 0.1228 | +0.008% | $21.6M | $7.4M | 300x | as long as short |
| Extended OP-USD | −0.0080% | 1h | 0.1228 | −0.012% | $99K | $576K | 25x | as long as short |
| Orderly PERP_OP_USDC | −0.0068% | 8h | 0.1228 | +0.016% | $12K | $231K | 10x | as long as short |
| Gate OP_USDT | −0.0050% | 8h | 0.1229 | +0.090% | $1.9M | $1.4M | 50x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0048% | 1h | 0.1229 | +0.098% | $24K | $68K | 50x | as long as short |
| GRVT OP_USDT_Perp | −0.0013% | 8h | 0.1232 | +0.335% | $302K | $5.6M | 10x | as long as short |
| dYdX OP-USDshort | 0.0000% | 1h | 0.1225 | −0.252% | $38K | $522 | 10x |
GMX OP/USD [OP-USDC]
Hyperliquid OP
Binance OPUSDT
MEXC OP_USDT
Extended OP-USD
Orderly PERP_OP_USDC
Gate OP_USDT
Coinbase International OP-PERP-INTX
GRVT OP_USDT_PerpShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1228 | +0.016% | $30K | $113K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1228 | −0.007% | — | — | 150x | as long as short |
| SoDEX OP-USD | +0.0019% | 1h | 0.1228 | +0.024% | $199 | $5K | 5x | as long as short |
| Injective OP/USDC PERP | +0.0033% | 1h | 0.1257 | +2.378% | $35K | $67K | 12x | as long as short |
| BloFin OP-USDT | +0.0042% | 8h | 0.1223 | −0.424% | $976K | $277K | 75x | as long as short |
| Aevo OP-PERP | +0.0064% | 1h | 0.1227 | −0.084% | $3K | $1K | 3x | as long as short |
| Variational Omni OP | +0.0066% | 8h | 0.1231 | +0.272% | $219K | $46K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1228 | +0.033% | $263K | $1.1M | 15x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1228 | +0.016% | $203K | $211K | 10x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1228 | 0.000% | $17.7M | $24.6M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1228 | +0.033% | $5.9M | $27.5M | 50x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1227 | −0.065% | $2.8M | $5.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1228 | +0.016% | $5.7M | $6.7M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1229 | +0.098% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERPlong | +0.0100% | 1h | 0.1228 | long leg | $105K | $204K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1232 | +0.349% | $4K | $1.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1230 | +0.179% | $43K | $686K | 50x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1229 | +0.065% | $166K | $261K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0157% | 1h | 0.1230 | +0.162% | $731K | $737K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0447% | 1h | 0.1224 | −0.294% | $681 | — | 20x | as long as short |
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
SoDEX OP-USD
Injective OP/USDC PERP
BloFin OP-USDT
Aevo OP-PERP
Variational Omni OP
Lighter OP
Aster OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
edgeX OPUSDC
ApeX Omni OPUSDT
HTX OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP