Funding you earn now, next payment 22:00 UTC−0.0136%/8h= −14.9% APRnext payment −$0.17 per $10,000 · paid last 24h −0.140%
Price spread now: Deribit against Kraken Futures−0.088%7-day average −0.082% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$700.699% of the position
Funding, last 7 days−0.266%−$27 on $10k
+Price spread, last 3 days (all we have)+0.017%+$2 · spread now −0.088%, 7d avg −0.082%
=The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_OPUSD | 0.1261 | 0.0136 | pay 0.0017% / 1h | 26m 35s | $780K | $731K | 20x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1260 | 0 | get 0.0000% / 1h | 26m 35s | $42K | $171K | 25x |
Kraken Futures PF_OPUSD
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Kraken Futures. 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
- −$28.6
- Price spread: −0.088% → −0.082%
- −$0.58
- Slippage, 4 orders
- −$52.9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$99.09
- Costs to cover
- 0.699%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 61 min ago; Deribit: live order book, 62 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 Kraken Futures live order book, 61 min ago | 8.38 bp | 23.5 bp −$23 | 143.6 bp −$1,436 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 62 min ago | 7.99 bp | 19.2 bp −$19 | 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 | −0.1658% | 1h | 0.1246 | −1.198% | $34K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1066% / S +0.0229% | 1h | 0.1259 | −0.132% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.436% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | +0.226% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALshort | 0.0000% | 1h | 0.1260 | −0.088% | $42K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1260 | −0.106% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0029% | 8h | 0.1256 | −0.433% | $228K | $44K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0033% | 8h | 0.1259 | −0.167% | $6K | $50K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1265 | +0.301% | $272K | $906K | 15x | as long as short |
| OKX OP-USDT-SWAP | +0.0099% | 8h | 0.1263 | +0.134% | $5.8M | $29.7M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1265 | +0.309% | $4.0M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1263 | +0.118% | $212K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1264 | +0.236% | $20.5M | $62.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | +0.158% | $18.4M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1263 | +0.182% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | +0.222% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1263 | +0.150% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1264 | +0.230% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1263 | +0.158% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | +0.079% | $127K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1255 | −0.455% | $9K | $379K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1256 | −0.405% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1257 | −0.326% | $45K | $718K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1260 | −0.096% | $173 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1260 | −0.119% | $174K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | +0.189% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1260 | −0.088% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0136% | 1h | 0.1261 | long leg | $780K | $731K | 20x | |
| BloFin OP-USDT | +0.0220% | 8h | 0.1262 | +0.079% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1259 | −0.157% | $700 | — | 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
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP