Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.076%
Price spread now: Deribit against BingX+0.145%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$490.488% of the position
Funding, last 7 days−0.282%−$28 on $10k
+Price spread, last 3 days (all we have)+0.119%+$12 · spread now +0.145%, 7d avg +0.031%
=The price spread pays, funding is against you. Deribit is 0.113% dearer against BingX than usual: you sell high and buy low (spread +0.145% now, against its 7-day average of +0.031%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX OP-USDT | 0.1245 | 0.0100 | pay 0.0100% / 8h | 2h 58m | — | $6.9M | — |
| Short | Deribit OP_USDC-PERPETUAL | 0.1247 | 0 | get 0.0000% / 1h | 58m 26s | $43K | $194K | 25x |
BingX OP-USDT
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$21
- Price spread: +0.145% → +0.031%
- $11.35
- Slippage, 4 orders
- −$31.82
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$58.47
- Costs to cover
- 0.488%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; Deribit: live order book, 30 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, 9 min ago | 0.40 bp | 8.9 bp −$9 | 14.8 bp −$148 | 67.1 bp −$6,714 | 380.5 bp −$190.2K |
| Sell Deribit live order book, 30 min ago | 7.99 bp | 19.2 bp −$19 | 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 | −0.1658% | 1h | 0.1242 | −0.257% | $34K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1066% / S +0.0229% | 1h | 0.1247 | +0.114% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1245 | −0.016% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1246 | +0.088% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALshort | 0.0000% | 1h | 0.1247 | +0.145% | $43K | $194K | 25x | |
| Variational Omni OP | +0.0001% | 8h | 0.1249 | +0.311% | $227K | $44K | — | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1247 | +0.134% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0026% | 8h | 0.1247 | +0.145% | $6K | $51K | 10x | as long as short |
| OKX OP-USDT-SWAP | +0.0093% | 8h | 0.1247 | +0.128% | $5.8M | $29.7M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1246 | +0.088% | $266K | $899K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Variational Omni OP
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate OP_USDT | +0.0097% | 8h | 0.1245 | −0.024% | $1.8M | $1.4M | 50x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1249 | +0.273% | $3.9M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1246 | +0.079% | $210K | $242K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1247 | +0.137% | $20.2M | $63.3M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1246 | +0.096% | $18.4M | $25.7M | 75x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1247 | +0.137% | $20.1M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1247 | +0.145% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1248 | +0.225% | $5.9M | $6.3M | 75x | as long as short |
| BingX OP-USDTlong | +0.0100% | 8h | 0.1245 | long leg | — | $6.9M | — | |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1246 | +0.040% | $127K | $196K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1250 | +0.421% | $9K | $381K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1249 | +0.319% | $304K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1251 | +0.466% | $45K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1246 | +0.080% | $148 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1249 | +0.265% | $178K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1245 | −0.023% | $100K | $196K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1245 | +0.013% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0138% | 1h | 0.1248 | +0.199% | $771K | $752K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1246 | +0.080% | $993K | $296K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0435% | 1h | 0.1247 | +0.143% | $693 | — | 20x | as long as short |
Gate OP_USDT
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
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
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP