Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against edgeX+0.125%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$540.537% of the position
Funding, last 7 days+0.140%+$14 on $10k
+Price spread, last 3 days (all we have)−0.312%−$31 · spread now +0.125%, 7d avg +0.043%
=Together, before fees−0.173%+ Points / potential airdropedgeX: Active · farm board−$17 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.082% dearer against edgeX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.043%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX OPUSDC | 0.1286 | 0.0100 | pay 0.0050% / 4h | 1h 00m | $10K | $384K | 10x |
| Short | Backpack OP_USDC_PERP | 0.1288 | 0.0100 | get 0.0013% / 1h | 0m 49s | $125K | $189K | 10x |
edgeX OPUSDC
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against edgeX. 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
- $0
- Price spread: +0.125% → +0.043%
- $8.18
- Slippage, 4 orders
- −$34.7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$45.52
- Costs to cover
- 0.537%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 18 min ago; Backpack: live order book, 17 min ago.
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 edgeX live order book, 18 min ago | 7.81 bp | 15.2 bp −$15 | 135.4 bp −$1,354 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 17 min ago | 0.39 bp | 11.8 bp −$12 | doesn't fit | doesn't fit | 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 | 0.1281 | −0.396% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1286 | +0.028% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1280 | −0.473% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1286 | −0.021% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1287 | +0.071% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1287 | +0.054% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0064% | 8h | 0.1286 | −0.007% | $6K | $49K | 10x | as long as short |
| Variational Omni OP | +0.0068% | 8h | 0.1283 | −0.273% | $234K | $53K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1288 | +0.110% | $291K | $927K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1288 | +0.180% | $4.2M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1288 | +0.159% | $215K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1288 | +0.113% | $20.9M | $61.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1287 | +0.071% | $18.9M | $25.5M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1288 | +0.117% | $6.1M | $30.5M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1288 | +0.149% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1288 | +0.156% | $20.5M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1288 | +0.149% | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1288 | +0.149% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1287 | +0.102% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1288 | +0.125% | $125K | $189K | 10x | |
| edgeX OPUSDClong | +0.0100% | 4h | 0.1286 | long leg | $10K | $384K | 10x | |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1285 | −0.085% | $321K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1287 | +0.071% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1286 | +0.024% | $176 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1286 | +0.016% | $178K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1287 | +0.067% | $103K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1286 | −0.013% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1289 | +0.211% | $1.0M | $291K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0224% | 1h | 0.1288 | +0.122% | $805K | $745K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1285 | −0.058% | $715 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
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