OP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0328%/8h= +35.9% APRnext payment +$0.41 per $10,000 · paid last 24h +0.067%

Price spread now: Deribit against Coinbase International+0.483%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.483% dearer against Coinbase International than usual: you sell high and buy low: +$48 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.055% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 per $10,000. 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	Coinbase International OP-PERP-INTX	0.1243	−0.0328	get 0.0041% / 1h	48m 47s	$21K	$64K	50x
Short	Deribit OP_USDC-PERPETUAL	0.1249	0	get 0.0000% / 1h	48m 47s	$41K	$172K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now +0.483%Rate

Funding earned: $68.88
Price spread: +0.483% → 0.000%: $48.27
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $100.15
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Deribit: live order book, 39 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Deribit live order book, 39 min ago	7.99 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit

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	−0.1658%	1h	0.1238	−0.402%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1249	+0.508%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTXlong	−0.0328%	1h	0.1243	long leg	$21K	$64K	50x
dYdX OP-USD	0.0000%	1h	0.1250	+0.564%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUALshort	0.0000%	1h	0.1249	+0.483%	$41K	$172K	25x
Variational Omni OP	+0.0002%	8h	0.1243	−0.028%	$227K	$44K	—	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1249	+0.515%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0026%	8h	0.1248	+0.402%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0095%	8h	0.1249	+0.467%	$5.8M	$29.4M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1251	+0.628%	$267K	$899K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1252	+0.692%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1249	+0.503%	$210K	$243K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1250	+0.574%	$20.2M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1249	+0.483%	$18.4M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1250	+0.531%	$1.8M	$1.4M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1250	+0.523%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1248	+0.402%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1250	+0.563%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1249	+0.459%	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1249	+0.491%	$127K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1247	+0.323%	$9K	$380K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1243	+0.015%	$308K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1244	+0.080%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1249	+0.499%	$163	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1249	+0.507%	$173K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1250	+0.534%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1250	+0.523%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0137%	1h	0.1250	+0.562%	$772K	$741K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1248	+0.410%	$992K	$294K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1248	+0.428%	$694	—	20x	as long as short