Funding you earn now, next payment 01:00 UTC−0.0760%/8h= −83.3% APRnext payment −$0.95 per $10,000 · paid last 24h −0.027%
Price spread now: GMX against Deribit−0.071%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+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 −$23 a day on $10k at the current rate, and GMX is 0.071% cheaper against Deribit than usual: you would sell low and buy high (−$7 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 | Deribit OP_USDC-PERPETUAL | 0.1281 | 0.0531 | pay 0.0066% / 1h | 15m 24s | $42K | $167K | 25x |
| Short | GMX OP/USD [OP-USDC] | 0.1280 | L −0.1065% / S +0.0229% | pay 0.0029% / 1h | 15m 24s | $13K | — | 100x |
Deribit OP_USDC-PERPETUAL
GMX OP/USD [OP-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$159.66
- Price spread: −0.071% → 0.000%
- −$7.1
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$185.76
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 58 min ago; GMX: 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 Deribit live order book, 58 min ago | 3.93 bp | 7.4 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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 | −0.1656% | 1h | 0.1256 | −1.952% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC]short | L −0.1065% / S +0.0229% | 1h | 0.1280 | −0.071% | $13K | — | 100x | |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1280 | −0.078% | $25K | $77K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1277 | −0.329% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1280 | −0.099% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0051% | 8h | 0.1271 | −0.788% | $232K | $46K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0058% | 8h | 0.1280 | −0.078% | $6K | $48K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1277 | −0.351% | $285K | $951K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1280 | −0.078% | $4.0M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1277 | −0.300% | $213K | $236K | 10x | as long as short |
Injective OP/USDC PERP
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OP
Aster OPUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance OPUSDT | +0.0100% | 8h | 0.1280 | −0.057% | $20.7M | $61.9M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1279 | −0.125% | $18.5M | $26.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1280 | −0.109% | $6.2M | $30.4M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1280 | −0.109% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1280 | −0.078% | $20.3M | $7.4M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1278 | −0.234% | $2.9M | $7.1M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1280 | −0.078% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1280 | −0.078% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1274 | −0.562% | $123K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1264 | −1.342% | $4K | $392K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1265 | −1.249% | $313K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1265 | −1.249% | $43K | $725K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1279 | −0.156% | $178 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1279 | −0.172% | $176K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1280 | −0.104% | $107K | $389K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1281 | 0.000% | $4K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1265 | −1.218% | $1.0M | $276K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0379% | 1h | 0.1281 | −0.021% | $809K | $755K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0439% | 1h | 0.1279 | −0.149% | $711 | — | 20x | as long as short |
| Deribit OP_USDC-PERPETUALlong | +0.0531% | 1h | 0.1281 | long leg | $42K | $167K | 25x |
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
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
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP