Funding you earn now, next payment 01:00 UTC−0.0635%/8h= −69.5% APRpaid last 24h −0.073%
Price spread now: Deribit against KuCoin−0.078%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$750.751% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 3 days (all we have)+0.185%+$18 · spread now −0.078%, 7d avg +0.019%
=Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Deribit is 0.097% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.019%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.252% in total (about -13.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin OPUSDTM | 0.1274 | 0.0100 | pay 0.0100% / 8h | 7h 58m | $2.9M | $7.3M | 75x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1273 | −0.0535 | pay 0.0067% / 1h | 58m 57s | $42K | $171K | 25x |
KuCoin OPUSDTM
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$133.35
- Price spread: −0.078% → +0.019%
- −$9.74
- Slippage, 4 orders
- −$56.09
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$218.18
- Costs to cover
- 0.751%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 9 min ago; Deribit: live order book, 14 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, 9 min ago | 3.93 bp | 28.8 bp −$29 | 81.0 bp −$810 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 14 min ago | 3.93 bp | 15.3 bp −$15 | 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 | −0.1656% | 1h | 0.1269 | −0.392% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1274 | −0.025% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUALshort | −0.0535% | 1h | 0.1273 | −0.078% | $42K | $171K | 25x | |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1270 | −0.314% | $21K | $65K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1277 | +0.227% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1274 | 0.000% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0059% | 8h | 0.1273 | −0.078% | $6K | $49K | 10x | as long as short |
| Variational Omni OP | +0.0061% | 8h | 0.1273 | −0.057% | $232K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1275 | +0.071% | $289K | $938K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1275 | +0.039% | $4.1M | $2.9M | 5x | 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
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 | 0.1275 | +0.041% | $213K | $236K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1273 | −0.095% | $20.6M | $61.9M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1272 | −0.133% | $18.4M | $25.9M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1274 | +0.008% | $6.0M | $30.3M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1275 | +0.118% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1274 | −0.024% | $20.1M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTMlong | +0.0100% | 8h | 0.1274 | long leg | $2.9M | $7.3M | 75x | |
| Bitget OPUSDT | +0.0100% | 8h | 0.1275 | +0.078% | $6.1M | $6.4M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1273 | −0.078% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1273 | −0.078% | $123K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1274 | +0.016% | $9K | $386K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1275 | +0.077% | $323K | $4.8M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1275 | +0.078% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1273 | −0.047% | $187 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1273 | −0.039% | $176K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1274 | 0.000% | $102K | $182K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1274 | −0.005% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1273 | −0.110% | $1.0M | $277K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0381% | 1h | 0.1275 | +0.083% | $802K | $749K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1274 | −0.023% | $708 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDC
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