OP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0460%/8h= +50.4% APRnext payment +$0.58 per $10,000 · paid last 24h +0.143%

Price spread now: Hyperliquid against Coinbase International+1.352%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 Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Hyperliquid is 1.352% dearer against Coinbase International than usual: you sell high and buy low: +$135 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 0.208% in total (about 10.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.58 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	−0.0360	get 0.0045% / 1h	57m 19s	$21K	$64K	50x
Short	Hyperliquid OP	0.1260	0.0100	get 0.0013% / 1h	57m 19s	$4.1M	$3.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +1.352%Rate

Funding earned: $96.6
Price spread: +1.352% → 0.000%: $135.16
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $212.76
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	1.19 bp	10.6 bp −$11	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	−0.1710%	1h	0.1251	+0.644%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1259	+1.305%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTXlong	−0.0360%	1h	0.1243	long leg	$21K	$64K	50x
dYdX OP-USD	0.0000%	1h	0.1258	+1.198%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1259	+1.287%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1259	+1.272%	—	—	150x	as long as short
Variational Omni OP	+0.0042%	8h	0.1257	+1.135%	$231K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0044%	8h	0.1258	+1.207%	$6K	$50K	10x	as long as short
OKX OP-USDT-SWAP	+0.0092%	8h	0.1258	+1.247%	$5.9M	$29.7M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1259	+1.303%	$270K	$899K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate OP_USDT	+0.0099%	8h	0.1259	+1.287%	$1.8M	$1.5M	50x	as long as short
Hyperliquid OPshort	+0.0100%	1h	0.1260	+1.352%	$4.1M	$3.0M	5x
Aster OPUSDT	+0.0100%	8h	0.1258	+1.185%	$211K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1259	+1.277%	$20.4M	$62.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1258	+1.207%	$18.4M	$25.3M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1258	+1.247%	$20.0M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1258	+1.207%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1259	+1.287%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1259	+1.287%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1256	+1.070%	$124K	$193K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1257	+1.104%	$11K	$377K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	+1.127%	$311K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1259	+1.287%	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1258	+1.239%	$175	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1259	+1.311%	$174K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1258	+1.240%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1259	+1.260%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1259	+1.287%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0229%	1h	0.1259	+1.316%	$779K	$732K	20x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1259	+1.261%	$700	—	20x	as long as short