Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against BingX−0.110%7-day average +0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$420.420% of the position
Funding, last 7 days+0.141%+$14 on $10k
+Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.110%, 7d avg +0.028%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.138% cheaper against BingX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.028%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX OP-USDT | 0.1278 | 0.0100 | pay 0.0100% / 8h | 1h 24m | — | $6.8M | — |
| Short | Backpack OP_USDC_PERP | 0.1276 | 0.0100 | get 0.0013% / 1h | 24m 25s | $127K | $190K | 10x |
BingX OP-USDT
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. 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: −0.110% → +0.028%
- −$13.8
- Slippage, 4 orders
- −$22.01
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$55.81
- Costs to cover
- 0.420%
- Break-even
- never at this rate
Slippage from BingX: live order book, 3 min ago; Backpack: live order book, 59 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 BingX live order book, 3 min ago | 1.57 bp | 11.1 bp −$11 | 18.8 bp −$188 | 102.2 bp −$10.2K | 379.1 bp −$189.5K |
| Sell Backpack live order book, 59 min ago | 1.58 bp | 11.5 bp −$11 | doesn't fit | 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 | −0.1710% | 1h | 0.1266 | −0.923% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1278 | +0.034% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1269 | −0.689% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1277 | −0.076% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1277 | −0.063% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1278 | +0.027% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0047% | 8h | 0.1273 | −0.408% | $233K | $52K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0058% | 8h | 0.1277 | −0.063% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1278 | +0.008% | $277K | $906K | 15x | as long as short |
| OKX OP-USDT-SWAP | +0.0098% | 8h | 0.1277 | −0.063% | $6.0M | $30.2M | 50x | 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
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1279 | +0.063% | $4.1M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1277 | −0.051% | $213K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1278 | +0.010% | $20.7M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1277 | −0.070% | $18.8M | $25.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1278 | +0.016% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1277 | −0.063% | $20.1M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1276 | −0.141% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1278 | +0.016% | $6.1M | $6.2M | 75x | as long as short |
| BingX OP-USDTlong | +0.0100% | 8h | 0.1278 | long leg | — | $6.8M | — | |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1276 | −0.110% | $127K | $190K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1270 | −0.585% | $10K | $379K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1271 | −0.507% | $318K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1271 | −0.532% | $46K | $722K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1277 | −0.094% | $173 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1275 | −0.227% | $176K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1276 | −0.105% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1278 | −0.023% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1276 | −0.172% | $1.0M | $287K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0225% | 1h | 0.1278 | −0.011% | $799K | $745K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1277 | −0.055% | $710 | — | 20x | as long as short |
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
Kraken Futures PF_OPUSD
Reya OPRUSDPERP