Funding you earn now, next payment 01:00 UTC−0.0329%/8h= −36.1% APRnext payment −$0.41 per $10,000 · paid last 24h −0.097%
Price spread now: GMX against Backpack+0.057%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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
The price spread pays, funding is against you. GMX is 0.057% dearer against Backpack than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 14 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack OP_USDC_PERP | 0.1262 | 0.0100 | pay 0.0013% / 1h | 21m 09s | $121K | $188K | 10x |
| Short | GMX OP/USD [OP-USDC] | 0.1262 | L −0.1065% / S +0.0229% | pay 0.0029% / 1h | 21m 09s | $13K | — | 100x |
Backpack OP_USDC_PERP
GMX OP/USD [OP-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$69.15
- Price spread: +0.057% → 0.000%
- $5.71
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$85.44
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 52 min ago; GMX: 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, 52 min ago | 0.39 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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 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 | −0.1656% | 1h | 0.1259 | −0.206% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC]short | L −0.1065% / S +0.0229% | 1h | 0.1262 | +0.057% | $13K | — | 100x | |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1261 | −0.048% | $20K | $63K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1262 | +0.032% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1262 | +0.032% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1262 | +0.034% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0045% | 8h | 0.1261 | −0.036% | $230K | $47K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0057% | 8h | 0.1262 | +0.032% | $6K | $48K | 10x | as long as short |
| Bybit OPUSDT | +0.0058% | 8h | 0.1261 | −0.024% | $18.3M | $25.9M | 75x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1263 | +0.127% | $282K | $950K | 15x | as long as short |
Injective OP/USDC PERP
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Bybit OPUSDT
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1263 | +0.151% | $3.9M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1262 | +0.067% | $211K | $236K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1263 | +0.075% | $20.4M | $61.9M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1261 | −0.032% | $6.1M | $30.0M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1263 | +0.095% | $1.9M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1263 | +0.087% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1262 | +0.032% | $2.9M | $7.1M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | +0.111% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1263 | +0.071% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERPlong | +0.0100% | 1h | 0.1262 | long leg | $121K | $188K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1264 | +0.189% | $4K | $391K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1269 | +0.587% | $307K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1263 | +0.111% | $43K | $724K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1262 | +0.063% | $174 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1263 | +0.119% | $174K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1262 | +0.009% | $106K | $430K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1264 | +0.196% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1263 | +0.111% | $1.0M | $275K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0384% | 1h | 0.1264 | +0.192% | $799K | $756K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1261 | −0.034% | $701 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
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
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP