Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.032%
Price spread now: Gate against Backpack+0.079%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$710.706% of the position
Funding, last 7 days−0.317%−$32 on $10k
+Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.079%, 7d avg −0.012%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.091% dearer against Backpack than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack OP_USDC_PERP | 0.1265 | 0.0100 | pay 0.0013% / 1h | 19m 07s | $125K | $194K | 10x |
| Short | Gate OP_USDT | 0.1266 | 0.0100 | get 0.0100% / 8h | 2h 19m | $1.8M | $1.5M | 50x |
Backpack OP_USDC_PERP
Gate OP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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: +0.079% → −0.012%
- $9.12
- Slippage, 4 orders
- −$45.63
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$61.51
- Costs to cover
- 0.706%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; Gate: live order book, 3 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, 4 min ago | 1.58 bp | 8.5 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 3 min ago | 3.94 bp | 18.0 bp −$18 | 64.5 bp −$645 | 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 | −0.1658% | 1h | 0.1261 | −0.316% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1066% / S +0.0229% | 1h | 0.1266 | +0.066% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.739% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1267 | +0.147% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1266 | +0.079% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1266 | +0.108% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0036% | 8h | 0.1265 | 0.000% | $6K | $50K | 10x | as long as short |
| Variational Omni OP | +0.0048% | 8h | 0.1266 | +0.113% | $232K | $44K | — | as long as short |
| OKX OP-USDT-SWAP | +0.0092% | 8h | 0.1264 | −0.047% | $5.9M | $29.9M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1267 | +0.126% | $272K | $907K | 15x | 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
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1267 | +0.150% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | +0.021% | $212K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1265 | −0.011% | $20.5M | $62.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1264 | −0.111% | $18.4M | $25.4M | 75x | as long as short |
| Gate OP_USDTshort | +0.0100% | 8h | 0.1266 | +0.079% | $1.8M | $1.5M | 50x | |
| MEXC OP_USDT | +0.0100% | 8h | 0.1265 | +0.008% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1265 | 0.000% | $2.9M | $7.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1265 | 0.000% | $6.0M | $6.3M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1265 | +0.016% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERPlong | +0.0100% | 1h | 0.1265 | long leg | $125K | $194K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1267 | +0.165% | $8K | $381K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1266 | +0.065% | $313K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1267 | +0.158% | $45K | $718K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1265 | +0.016% | $173 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1267 | +0.134% | $175K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1265 | −0.002% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1265 | +0.019% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1267 | +0.126% | $783K | $731K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1266 | +0.071% | $996K | $282K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1266 | +0.080% | $704 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP