OP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0121%/8h= +13.2% APRnext payment +$0.15 per $10,000 · paid last 24h +0.095%

Price spread now: Kraken Futures against Extended−0.086%7-day average +0.153% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$980.976% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 3 days (all we have)+0.267%+$27 · spread now −0.086%, 7d avg +0.153%

Together, before fees+0.322%+ Points / potential airdropExtended: Active · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.239% cheaper against Extended than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.153%). If the spread goes back, that is −$24 on $10k: about 6.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.055% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended OP-USD	0.1282	0.0104	pay 0.0013% / 1h	9m 18s	$102K	$186K	25x
Short	Kraken Futures PF_OPUSD	0.1281	0.0225	get 0.0028% / 1h	9m 18s	$801K	$745K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Extended. 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 ExtendedbpFee Kraken FuturesbpOrdersPrice spread, now −0.086%Rate

Funding earned: $25.34
Price spread: −0.086% → +0.153%: −$23.92
Slippage, 4 orders: −$82.6
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$96.18
Costs to cover: 0.976%
Break-even: 33.6 days

Slippage from Extended: live order book, 7 min ago; Kraken Futures: live order book, 9 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 Extended live order book, 7 min ago	11.72 bp	20.8 bp −$21	139.6 bp −$1,396	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 9 min ago	8.20 bp	22.3 bp −$22	73.7 bp −$737	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	0.1274	−0.639%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1283	+0.089%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1280	−0.171%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1283	+0.049%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1283	+0.063%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1283	+0.063%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0062%	8h	0.1282	−0.015%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0063%	8h	0.1280	−0.188%	$233K	$53K	—	as long as short
Lighter OP	+0.0096%	1h	0.1283	+0.079%	$290K	$923K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1284	+0.149%	$4.2M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1283	+0.051%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1283	+0.040%	$20.8M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1283	+0.024%	$18.8M	$25.4M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1283	+0.048%	$6.1M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1283	+0.063%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1283	+0.056%	$20.4M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1282	−0.015%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1283	+0.063%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1283	+0.056%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.225%	$125K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1281	−0.118%	$10K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	−0.217%	$320K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1280	−0.171%	$46K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1283	+0.056%	$178	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1280	−0.210%	$177K	$232K	50x	as long as short
Extended OP-USDlong	+0.0104%	1h	0.1282	long leg	$102K	$186K	25x
Aevo OP-PERP	+0.0104%	1h	0.1283	+0.050%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1280	−0.132%	$1.0M	$299K	75x	as long as short
Kraken Futures PF_OPUSDshort	+0.0225%	1h	0.1281	−0.086%	$801K	$745K	20x
Reya OPRUSDPERP	+0.0437%	1h	0.1283	+0.059%	$713	—	20x	as long as short