Funding you earn now, next payment 02:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.027%
Price spread now: Lighter against Extended+0.099%7-day average +0.107% · you sell dearer than you buy
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$850.850% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.099%, 7d avg +0.107%
=Together, before fees+0.060%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended OP-USD | 0.1259 | 0.0104 | pay 0.0013% / 1h | 5m 38s | $101K | $392K | 25x |
| Short | Lighter OP | 0.1260 | 0.0096 | get 0.0012% / 1h | 5m 38s | $280K | $949K | 15x |
Extended OP-USD
Lighter OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. 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
- −$1.68
- Price spread: +0.099% → +0.107%
- −$0.79
- Slippage, 4 orders
- −$80.04
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$87.51
- Costs to cover
- 0.850%
- Break-even
- never at this rate
Slippage from Extended: live order book, 62 min ago; Lighter: live order book, 60 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, 62 min ago | 11.74 bp | 20.8 bp −$21 | 140.0 bp −$1,400 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 60 min ago | 6.29 bp | 20.9 bp −$21 | 61.2 bp −$612 | doesn't fit | doesn't fit |
OP on 29 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 | −0.1535% | 1h | 0.1255 | −0.314% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1261 | +0.160% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0184% | 1h | 0.1279 | +1.593% | $25K | $74K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1260 | +0.083% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1261 | +0.163% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1261 | +0.171% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0053% | 8h | 0.1260 | +0.083% | $6K | $47K | 10x | as long as short |
| Variational Omni OP | +0.0054% | 8h | 0.1259 | +0.038% | $223K | $50K | — | as long as short |
| OKX OP-USDT-SWAP | +0.0064% | 8h | 0.1259 | −0.028% | $6.1M | $29.3M | 50x | as long as short |
| Lighter OPshort | +0.0096% | 1h | 0.1260 | +0.099% | $280K | $949K | 15x |
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
OKX OP-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1260 | +0.115% | $3.7M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1260 | +0.049% | $210K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1259 | −0.005% | $20.2M | $61.5M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1258 | −0.036% | $18.3M | $25.6M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1260 | +0.052% | $1.9M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1259 | +0.036% | $20.6M | $7.5M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1259 | +0.004% | $2.9M | $6.8M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1260 | +0.083% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1259 | +0.020% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1259 | +0.028% | $121K | $201K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1257 | −0.141% | $4K | $388K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1257 | −0.193% | $309K | $5.2M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1257 | −0.155% | $43K | $707K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1260 | +0.115% | $184 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1261 | +0.195% | $174K | $223K | 50x | as long as short |
| Extended OP-USDlong | +0.0104% | 1h | 0.1259 | long leg | $101K | $392K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1261 | +0.168% | $3K | $1K | 3x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1260 | +0.099% | $701 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0462% | 1h | 0.1262 | +0.228% | $797K | $587K | 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-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Aevo OP-PERP
Reya OPRUSDPERP
Kraken Futures PF_OPUSD