Funding you earn now, next payment 23:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.065%
Price spread now: BloFin against Deribit−0.180%57s7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as 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−$550.548% of the position
Funding, last 7 days+0.420%+$42 on $10k
+Price spread, last 3 days (all we have)+0.324%+$32 · spread now −0.180%, 7d avg +0.010%
=Funding pays, the price is against you. BloFin is 0.189% cheaper against Deribit than usual: you would sell low and buy high (spread −0.180% now, against its 7-day average of +0.010%). If the spread goes back, that is −$19 on $10k: about 2.9 days of funding at the current rate (+$7 a day). 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 | Deribit OP_USDC-PERPETUAL | 0.1278 | 0 | get 0.0000% / 1h | 21m 46s | $42K | $171K | 25x |
| Short | BloFin OP-USDT | 0.1276 | 0.0220 | get 0.0220% / 8h | 1h 21m | $1.0M | $287K | 75x |
Deribit OP_USDC-PERPETUAL
BloFin OP-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Deribit. 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: −0.180% → +0.010%
- −$18.95
- Slippage, 4 orders
- −$35.84
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$27.59
- Costs to cover
- 0.548%
- Break-even
- 11.2 days
Slippage from Deribit: live order book, 62 min ago; BloFin: live order book, just now.
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 Deribit live order book, 62 min ago | 7.89 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, just now | 0.78 bp | 15.9 bp −$16 | 24.0 bp −$240 | 66.9 bp −$6,690 | 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 | 0.1266 | −0.939% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1277 | −0.049% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1269 | −0.704% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1279 | +0.047% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1278 | long leg | $42K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1278 | −0.018% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0047% | 8h | 0.1273 | −0.423% | $233K | $52K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0058% | 8h | 0.1277 | −0.078% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1280 | +0.172% | $277K | $906K | 15x | as long as short |
| OKX OP-USDT-SWAP | +0.0098% | 8h | 0.1279 | +0.070% | $6.0M | $30.2M | 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 | 0.1281 | +0.203% | $4.1M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1279 | +0.090% | $214K | $239K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1279 | +0.083% | $20.8M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1278 | +0.039% | $18.8M | $25.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1279 | +0.070% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1279 | +0.078% | $20.1M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1278 | 0.000% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1279 | +0.078% | $6.1M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1279 | +0.078% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1278 | −0.031% | $127K | $190K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1275 | −0.229% | $11K | $380K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1276 | −0.157% | $319K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1276 | −0.156% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1278 | −0.031% | $179 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1278 | −0.016% | $177K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1279 | +0.067% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1278 | −0.039% | $4K | — | 3x | as long as short |
| BloFin OP-USDTshort | +0.0220% | 8h | 0.1276 | −0.180% | $1.0M | $287K | 75x | |
| Kraken Futures PF_OPUSD | +0.0225% | 1h | 0.1279 | +0.062% | $799K | $745K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1277 | −0.113% | $710 | — | 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-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
Reya OPRUSDPERP