Funding you earn now, next payment 23:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.065%
Price spread now: Deribit against BloFin+0.087%57s7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$560.561% of the position
Funding, last 7 days−0.420%−$42 on $10k
+Price spread, last 3 days (all we have)−0.231%−$23 · spread now +0.087%, 7d avg −0.010%
=The price spread pays, funding is against you. Deribit is 0.097% dearer against BloFin than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of −0.010%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 35 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin OP-USDT | 0.1263 | 0.0220 | pay 0.0220% / 8h | 1h 38m | $998K | $282K | 75x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1264 | 0 | get 0.0000% / 1h | 38m 11s | $42K | $171K | 25x |
BloFin OP-USDT
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against BloFin. 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
- −$46.2
- Price spread: +0.087% → −0.010%
- $9.66
- Slippage, 4 orders
- −$37.11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$92.65
- Costs to cover
- 0.561%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 4 min ago; Deribit: live order book, 45 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 BloFin live order book, 4 min ago | 1.58 bp | 12.2 bp −$12 | 19.6 bp −$196 | 57.3 bp −$5,730 | doesn't fit |
| Sell Deribit live order book, 45 min ago | 7.89 bp | 19.3 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 | −0.1710% | 1h | 0.1257 | −0.467% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1264 | +0.100% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1253 | −0.784% | $21K | $63K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1263 | −0.005% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALshort | 0.0000% | 1h | 0.1264 | +0.087% | $42K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | +0.070% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0040% | 8h | 0.1262 | −0.095% | $234K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0055% | 8h | 0.1263 | +0.008% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1263 | +0.032% | $275K | $904K | 15x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1262 | −0.071% | $5.9M | $29.7M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
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 | 0.1265 | +0.158% | $4.1M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1264 | +0.060% | $211K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1263 | +0.002% | $20.5M | $62.0M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1262 | −0.111% | $18.4M | $25.2M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1263 | +0.008% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1263 | 0.000% | $20.0M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1262 | −0.071% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | +0.008% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1262 | −0.055% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | −0.048% | $125K | $190K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | −0.050% | $9K | $379K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1262 | −0.070% | $315K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1262 | −0.071% | $45K | $722K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1262 | −0.040% | $183 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1262 | −0.040% | $175K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1262 | −0.048% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1263 | −0.032% | $4K | — | 3x | as long as short |
| BloFin OP-USDTlong | +0.0220% | 8h | 0.1263 | long leg | $998K | $282K | 75x | |
| Kraken Futures PF_OPUSD | +0.0228% | 1h | 0.1263 | +0.008% | $789K | $740K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1263 | +0.006% | $702 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
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
Kraken Futures PF_OPUSD
Reya OPRUSDPERP