Funding you earn now, next payment 01:00 UTC+0.1554%/8h= +170.2% APRpaid last 24h +0.169%
Price spread now: Bybit against Injective+0.166%108s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.311%+$131 on $10k
+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 +$47 a day on $10k at the current rate, and Bybit is 0.166% dearer against Injective than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 108 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 | Injective OP/USDC PERP | 0.1263 | −0.1656 | get 0.0207% / 1h | 43m 36s | $35K | $58K | 12x |
| Short | Bybit OPUSDT | 0.1265 | −0.0102 | pay 0.0102% / 8h | 7h 43m | $18.4M | $26.0M | 75x |
Injective OP/USDC PERP
Bybit OPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $326.35
- Price spread: +0.166% → 0.000%
- $16.63
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $331.96
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 0.79 bp | 12.7 bp −$13 | 23.4 bp −$234 | 95.5 bp −$9,551 | doesn't fit |
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 PERPlong | −0.1656% | 1h | 0.1263 | long leg | $35K | $58K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1266 | +0.258% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0540% | 1h | 0.1265 | +0.158% | $42K | $171K | 25x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1262 | −0.079% | $21K | $64K | 50x | as long as short |
| Bybit OPUSDTshort | −0.0102% | 8h | 0.1265 | +0.166% | $18.4M | $26.0M | 75x | |
| dYdX OP-USD | 0.0000% | 1h | 0.1266 | +0.253% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1267 | +0.291% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0052% | 8h | 0.1266 | +0.242% | $231K | $47K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0058% | 8h | 0.1266 | +0.238% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1267 | +0.340% | $284K | $946K | 15x | as long as short |
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1267 | +0.309% | $4.1M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1267 | +0.348% | $212K | $236K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1267 | +0.301% | $20.5M | $62.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1266 | +0.230% | $6.0M | $29.9M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1267 | +0.277% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1267 | +0.293% | $20.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1266 | +0.238% | $2.9M | $7.2M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1267 | +0.317% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1266 | +0.214% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1266 | +0.214% | $121K | $189K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1267 | +0.332% | $4K | $392K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1268 | +0.388% | $308K | $4.9M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1267 | +0.317% | $43K | $723K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1266 | +0.222% | $182 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1268 | +0.356% | $175K | $235K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1266 | +0.209% | $102K | $289K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1265 | +0.198% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1268 | +0.388% | $1.0M | $282K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0383% | 1h | 0.1267 | +0.350% | $799K | $754K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1265 | +0.186% | $704 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance 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