Funding you earn now, next payment 00:00 UTC−0.0070%/8h= −7.7% APRnext payment −$0.70 per $10,000 · paid last 24h −0.030%
Price spread now: Orderly against Bybit−0.048%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−0.102%−$10 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 −$2 a day on $10k at the current rate, and Orderly is 0.048% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPUSDT | 0.1253 | 0.0100 | pay 0.0100% / 8h | 2h 37m | $18.4M | $25.3M | 75x |
| Short | Orderly PERP_OP_USDC | 0.1252 | 0.0030 | get 0.0030% / 8h | 2h 37m | $6K | $51K | 10x |
Bybit OPUSDT
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Bybit. 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
- −$14.71
- Price spread: −0.048% → 0.000%
- −$4.79
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$36.5
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Orderly: 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 Bybit live order book, 1 min ago | 0.40 bp | 16.2 bp −$16 | 34.4 bp −$344 | 103.4 bp −$10.3K | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1658% | 1h | 0.1246 | −0.527% | $34K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1066% / S +0.0229% | 1h | 0.1252 | −0.075% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −0.766% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1252 | −0.028% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1252 | −0.048% | $41K | $172K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1252 | −0.034% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0012% | 8h | 0.1252 | −0.079% | $228K | $45K | — | as long as short |
| Orderly PERP_OP_USDCshort | +0.0030% | 8h | 0.1252 | −0.048% | $6K | $51K | 10x | |
| OKX OP-USDT-SWAP | +0.0092% | 8h | 0.1253 | +0.048% | $5.8M | $29.5M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1253 | +0.016% | $268K | $902K | 15x | 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
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1254 | +0.120% | $3.9M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1252 | −0.041% | $211K | $243K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1253 | +0.064% | $20.3M | $62.6M | 75x | as long as short |
| Bybit OPUSDTlong | +0.0100% | 8h | 0.1253 | long leg | $18.4M | $25.3M | 75x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1252 | −0.032% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1253 | 0.000% | $20.1M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1252 | −0.048% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1253 | +0.032% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1252 | −0.048% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1252 | −0.032% | $128K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1252 | −0.030% | $9K | $377K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1252 | −0.049% | $310K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1252 | −0.048% | $45K | $719K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1251 | −0.104% | $171 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | −0.080% | $173K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1253 | +0.049% | $100K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1252 | −0.058% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0137% | 1h | 0.1253 | −0.007% | $774K | $733K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1251 | −0.136% | $993K | $279K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1251 | −0.121% | $696 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance 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
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP