Funding you earn now, next payment 09:00 UTC−0.1328%/8h= −145.4% APRnext payment −$1.66 per $10,000 · paid last 24h −0.281%
Price spread now: Injective against Deribit−1.121%63s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.101%−$110 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 −$40 a day on $10k at the current rate, and Injective is 1.121% cheaper against Deribit than usual: you would sell low and buy high (−$112 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 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 | 0.1249 | 0 | get 0.0000% / 1h | 40m 03s | $31K | $165K | 25x |
| Short | Injective OP/USDC PERP | 0.1235 | −0.1328 | pay 0.0166% / 1h | 40m 03s | $34K | $63K | 12x |
Deribit OP_USDC-PERPETUAL
Injective OP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$278.78
- Price spread: −1.121% → 0.000%
- −$112.09
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$397.89
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 58 min ago; Injective: 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 | 8.02 bp | 11.5 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 PERPshort | −0.1328% | 1h | 0.1235 | −1.121% | $34K | $63K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1252 | +0.245% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0050% | 8h | 0.1249 | 0.000% | $12K | $235K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1250 | +0.055% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1249 | long leg | $31K | $165K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1249 | +0.024% | — | — | 150x | as long as short |
| KuCoin OPUSDTM | +0.0011% | 8h | 0.1248 | −0.080% | $2.8M | $6.0M | 75x | as long as short |
| Bybit OPUSDT | +0.0025% | 8h | 0.1248 | −0.048% | $18.2M | $26.3M | 75x | as long as short |
| Variational Omni OP | +0.0058% | 8h | 0.1247 | −0.141% | $221K | $47K | — | as long as short |
| Gate OP_USDT | +0.0058% | 8h | 0.1249 | +0.032% | $2.0M | $1.5M | 50x | as long as short |
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
dYdX OP-USD
gTrade (Gains Network) OP/USD
KuCoin OPUSDTM
Bybit OPUSDT
Variational Omni OP
Gate OP_USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1250 | +0.120% | $288K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1250 | +0.040% | $3.5M | $3.6M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1250 | +0.045% | $205K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1248 | −0.064% | $19.6M | $67.7M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1249 | +0.016% | $6.0M | $29.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1249 | +0.008% | $22.3M | $7.7M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1248 | −0.080% | $5.6M | $6.8M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1249 | 0.000% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1249 | −0.024% | $117K | $222K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1252 | +0.226% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1252 | +0.266% | $311K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1253 | +0.320% | $43K | $694K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1249 | +0.008% | $188 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1250 | +0.040% | $166K | $259K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1248 | −0.061% | $100K | $612K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1249 | −0.029% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1255 | +0.480% | $24K | $68K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0155% | 1h | 0.1251 | +0.132% | $745K | $676K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1247 | −0.152% | $990K | $324K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1248 | −0.099% | $694 | — | 20x | as long as short |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
MEXC OP_USDT
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
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP