Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.56 per $10,000 · paid last 24h −0.002%
Price spread now: OKX against Binance+0.039%7-day average −0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$510.509% of the position
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 7 days−0.068%−$7 · spread now +0.039%, 7d avg −0.036%
=The price spread pays, funding is against you. OKX is 0.076% dearer against Binance than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.036%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.012% in total) that is about 43 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPUSDT | 0.1269 | 0.0100 | pay 0.0100% / 8h | 4h 27m | $20.5M | $60.3M | 75x |
| Short | OKX OP-USDT-SWAP | 0.1270 | 0.0044 | get 0.0044% / 8h | 4h 27m | $6.2M | $28.7M | 50x |
Binance OPUSDT
OKX OP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. 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
- −$11.73
- Price spread: +0.039% → −0.036%
- $7.58
- Slippage, 4 orders
- −$30.95
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$55.1
- Costs to cover
- 0.509%
- Break-even
- never at this rate
Slippage from Binance: live order book, 15 min ago; OKX: live order book, 1 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 Binance live order book, 15 min ago | 0.40 bp | 11.7 bp −$12 | 23.2 bp −$232 | 105.0 bp −$10.5K | doesn't fit |
| Sell OKX live order book, 1 min ago | 0.39 bp | 17.4 bp −$17 | 36.1 bp −$361 | 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 | −0.1607% | 1h | 0.1268 | −0.079% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1271 | +0.136% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1273 | +0.323% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1270 | +0.079% | $42K | $140K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1271 | +0.133% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAPshort | +0.0044% | 8h | 0.1270 | +0.039% | $6.2M | $28.7M | 50x | |
| Variational Omni OP | +0.0053% | 8h | 0.1271 | +0.120% | $225K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1270 | +0.079% | $6K | $45K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1270 | +0.055% | $279K | $941K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1271 | +0.134% | $3.7M | $2.8M | 5x | 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
Variational Omni OP
Orderly PERP_OP_USDC
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 | 0.1270 | +0.042% | $212K | $219K | 10x | as long as short |
| Binance OPUSDTlong | +0.0100% | 8h | 0.1269 | long leg | $20.5M | $60.3M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1268 | −0.079% | $18.6M | $24.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1270 | +0.079% | $2.0M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1269 | +0.008% | $21.5M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1268 | −0.079% | $2.9M | $6.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1269 | 0.000% | $5.9M | $6.4M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1269 | 0.000% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1268 | −0.055% | $125K | $200K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1270 | +0.107% | $4K | $389K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1271 | +0.162% | $318K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | −0.630% | $43K | $710K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1269 | +0.008% | $206 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1273 | +0.276% | $175K | $226K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1268 | −0.047% | $104K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1269 | +0.016% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | −0.552% | $24K | $63K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1273 | +0.323% | $1.0M | $280K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0347% | 1h | 0.1270 | +0.079% | $791K | $547K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1272 | +0.257% | $707 | — | 20x | as long as short |
Aster OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP