Funding you earn now, next payment 00:00 UTC+0.1065%/8h= +116.6% APRnext payment +$1.33 per $10,000 · paid last 24h +0.270%
Price spread now: Deribit against GMX+0.037%7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$32 a day on $10k at the current rate, and Deribit is 0.037% dearer against GMX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX OP/USD [OP-USDC] | 0.1290 | L −0.1065% / S +0.0229% | get 0.0133% / 1h | 54m 54s | $13K | — | 100x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1290 | 0 | get 0.0000% / 1h | 54m 54s | $43K | $171K | 25x |
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against GMX. 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
- $223.68
- Price spread: +0.037% → 0.000%
- $3.72
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $208.4
- Costs to cover
- 0.190%
- Break-even
- 0.5 days
Slippage unknown: GMX: no order-book sample; Deribit: live order book, 24 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 24 min ago | 11.71 bp | 15.2 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.1633% | 1h | 0.1284 | −0.428% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC]long | L −0.1065% / S +0.0229% | 1h | 0.1290 | long leg | $13K | — | 100x | |
| Coinbase International OP-PERP-INTX | −0.0344% | 1h | 0.1280 | −0.738% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1290 | +0.015% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALshort | 0.0000% | 1h | 0.1290 | +0.037% | $43K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1290 | +0.037% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0064% | 8h | 0.1289 | −0.040% | $6K | $49K | 10x | as long as short |
| Variational Omni OP | +0.0077% | 8h | 0.1288 | −0.089% | $236K | $54K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1291 | +0.099% | $291K | $919K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1289 | −0.048% | $4.2M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
Coinbase International OP-PERP-INTX
dYdX OP-USD
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 | −0.097% | $215K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1288 | −0.133% | $20.9M | $61.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1289 | −0.071% | $18.9M | $25.5M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1289 | −0.048% | $6.1M | $30.6M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1289 | −0.064% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1288 | −0.149% | $20.6M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1288 | −0.118% | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1289 | −0.040% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1288 | −0.095% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1288 | −0.110% | $125K | $189K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1287 | −0.180% | $11K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1288 | −0.103% | $322K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1288 | −0.118% | $46K | $722K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1289 | −0.033% | $184 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1291 | +0.092% | $178K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1288 | −0.112% | $103K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1290 | +0.026% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1289 | −0.040% | $1.0M | $291K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0354% | 1h | 0.1291 | +0.100% | $807K | $745K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1290 | +0.039% | $717 | — | 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
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