Funding you earn now, next payment 09:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.064%
Price spread now: MEXC against Kraken Futures−0.082%7-day average −0.073% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$490.494% of the position
Funding, last 7 days−0.084%−$8 on $10k
+Price spread, last 4 days (all we have)−0.275%−$28 · spread now −0.082%, 7d avg −0.073%
=The price spread sits at its 7-day average of −0.073%, so right now this pair is about funding alone: −$2 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 | 0.1252 | 0.0155 | pay 0.0019% / 1h | 48m 47s | $745K | $676K | 20x |
| Short | MEXC OP_USDT | 0.1251 | 0.0100 | get 0.0100% / 8h | 7h 48m | $22.3M | $7.7M | 300x |
Kraken Futures PF_OPUSD
MEXC OP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$11.48
- Price spread: −0.082% → −0.073%
- −$0.87
- Slippage, 4 orders
- −$39.45
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$61.79
- Costs to cover
- 0.494%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 49 min ago; MEXC: live order book, 5 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, 49 min ago | 6.01 bp | 21.4 bp −$21 | 156.9 bp −$1,569 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 0.40 bp | 3.5 bp −$3 | 14.3 bp −$143 | 53.4 bp −$5,344 | 101.9 bp −$50.9K |
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 | −0.1328% | 1h | 0.1235 | −1.360% | $34K | $63K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1251 | −0.046% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0054% | 8h | 0.1251 | −0.082% | $12K | $236K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1251 | −0.074% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1251 | −0.082% | $31K | $165K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1252 | −0.025% | — | — | 150x | as long as short |
| GRVT OP_USDT_Perp | +0.0016% | 8h | 0.1249 | −0.241% | $310K | $5.3M | 10x | as long as short |
| KuCoin OPUSDTM | +0.0038% | 8h | 0.1250 | −0.161% | $2.8M | $6.0M | 75x | as long as short |
| Variational Omni OP | +0.0063% | 8h | 0.1250 | −0.126% | $221K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1252 | +0.006% | $289K | $1.1M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
GRVT OP_USDT_Perp
KuCoin OPUSDTM
Variational Omni OP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1252 | −0.018% | $3.5M | $3.6M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1251 | −0.080% | $205K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1251 | −0.083% | $19.7M | $67.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1250 | −0.153% | $18.2M | $26.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1251 | −0.114% | $6.0M | $29.5M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1251 | −0.098% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDTshort | +0.0100% | 8h | 0.1251 | −0.082% | $22.3M | $7.7M | 300x | |
| Bitget OPUSDT | +0.0100% | 8h | 0.1251 | −0.082% | $5.6M | $6.8M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1251 | −0.074% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1251 | −0.082% | $117K | $222K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1249 | −0.264% | $4K | $1.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1250 | −0.161% | $43K | $694K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1251 | −0.058% | $199 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | −0.018% | $166K | $259K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1250 | −0.144% | $100K | $613K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1251 | −0.061% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1253 | +0.078% | $24K | $67K | 50x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0155% | 1h | 0.1252 | long leg | $745K | $676K | 20x | |
| BloFin OP-USDT | +0.0220% | 8h | 0.1251 | −0.074% | $995K | $325K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1251 | −0.080% | $696 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP