Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against KuCoin+0.016%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$830.825% of the position
Funding, last 7 days+0.141%+$14 on $10k
+Price spread, last 4 days (all we have)+0.110%+$11 · spread now +0.016%, 7d avg +0.020%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin OPUSDTM | 0.1272 | 0.0100 | pay 0.0100% / 8h | 4h 28m | $2.9M | $6.6M | 75x |
| Short | Backpack OP_USDC_PERP | 0.1272 | 0.0100 | get 0.0013% / 1h | 28m 31s | $126K | $201K | 10x |
KuCoin OPUSDTM
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $0
- Price spread: +0.016% → +0.020%
- −$0.47
- Slippage, 4 orders
- −$60.51
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$82.97
- Costs to cover
- 0.825%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 4 min ago; Backpack: live order book, 30 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 KuCoin live order book, 4 min ago | 3.95 bp | 35.8 bp −$36 | 85.6 bp −$856 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 30 min ago | 1.99 bp | 13.7 bp −$14 | 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 | −0.1607% | 1h | 0.1268 | −0.314% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1274 | +0.171% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1273 | +0.086% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1274 | +0.157% | $42K | $141K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1275 | +0.211% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0046% | 8h | 0.1272 | +0.008% | $6.2M | $28.8M | 50x | as long as short |
| Variational Omni OP | +0.0053% | 8h | 0.1271 | −0.116% | $225K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1274 | +0.157% | $6K | $44K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1273 | +0.039% | $279K | $941K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1273 | +0.063% | $3.7M | $2.8M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Variational Omni OP
Orderly PERP_OP_USDC
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 | 0.1272 | −0.018% | $212K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1272 | +0.008% | $20.6M | $60.3M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1271 | −0.055% | $18.7M | $24.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1273 | +0.079% | $2.0M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1273 | +0.039% | $21.5M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTMlong | +0.0100% | 8h | 0.1272 | long leg | $2.9M | $6.6M | 75x | |
| Bitget OPUSDT | +0.0100% | 8h | 0.1272 | 0.000% | $5.9M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1272 | −0.031% | — | $6.3M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1272 | +0.016% | $126K | $201K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1270 | −0.129% | $4K | $389K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1271 | −0.075% | $318K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | −0.865% | $43K | $710K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1274 | +0.173% | $203 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1275 | +0.212% | $175K | $228K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1272 | −0.022% | $104K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1274 | +0.180% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | −0.786% | $24K | $64K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1273 | +0.086% | $1.0M | $280K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0345% | 1h | 0.1275 | +0.220% | $794K | $547K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1272 | +0.020% | $707 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDT
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP