Funding you earn now, next payment 23:00 UTC−0.0444%/8h= −48.6% APRpaid last 24h −0.144%
Price spread now: Coinbase International against Bitget−0.236%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.308%−$31 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Coinbase International is 0.236% cheaper against Bitget than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.308% in total (about -16.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget OPUSDT | 0.1273 | 0.0100 | pay 0.0100% / 8h | 11m 40s | $6.1M | $6.3M | 75x |
| Short | Coinbase International OP-PERP-INTX | 0.1270 | −0.0344 | pay 0.0043% / 1h | 11m 40s | $21K | $65K | 50x |
Bitget OPUSDT
Coinbase International OP-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bitget. 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
- −$93.24
- Price spread: −0.236% → 0.000%
- −$23.57
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$138.81
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Bitget: live order book, 2 min ago; Coinbase International: 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 Bitget live order book, 2 min ago | 3.93 bp | 17.3 bp −$17 | 28.8 bp −$288 | 83.3 bp −$8,325 | doesn't fit |
| Sell Coinbase International no order-book sample | — | — | — | — | — |
Coinbase International: 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 | −0.1633% | 1h | 0.1267 | −0.471% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1273 | +0.020% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTXshort | −0.0344% | 1h | 0.1270 | −0.236% | $21K | $65K | 50x | |
| dYdX OP-USD | 0.0000% | 1h | 0.1274 | +0.049% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1273 | 0.000% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1274 | +0.060% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0062% | 8h | 0.1273 | 0.000% | $6K | $49K | 10x | as long as short |
| Variational Omni OP | +0.0065% | 8h | 0.1275 | +0.178% | $232K | $55K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1274 | +0.079% | $293K | $959K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1274 | +0.094% | $4.1M | $2.9M | 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
Orderly PERP_OP_USDC
Variational Omni OP
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 | 0.1274 | +0.066% | $213K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1273 | −0.024% | $20.6M | $61.9M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1271 | −0.134% | $18.3M | $25.9M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1272 | −0.079% | $6.0M | $30.3M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1274 | +0.047% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1273 | −0.016% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1272 | −0.079% | $2.9M | $7.3M | 75x | as long as short |
| Bitget OPUSDTlong | +0.0100% | 8h | 0.1273 | long leg | $6.1M | $6.3M | 75x | |
| BingX OP-USDT | +0.0100% | 8h | 0.1272 | −0.086% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1273 | −0.039% | $123K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1276 | +0.222% | $11K | $385K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1275 | +0.157% | $315K | $4.8M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1277 | +0.314% | $46K | $722K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1272 | −0.063% | $191 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1273 | −0.008% | $176K | $235K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1273 | −0.023% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1273 | −0.027% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1274 | +0.047% | $1.0M | $279K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0359% | 1h | 0.1274 | +0.080% | $801K | $749K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1272 | −0.056% | $707 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
BingX OP-USDT
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
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP