Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.025%
Price spread now: Backpack against MEXC−0.168%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$310.310% of the position
Funding, last 7 days+0.209%+$21 on $10k
+Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.168%, 7d avg −0.008%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.160% cheaper against MEXC than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.008%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC OP_USDT | 0.1248 | 0.0100 | pay 0.0100% / 8h | 2h 40m | $22.4M | $7.5M | 300x |
| Short | Backpack OP_USDC_PERP | 0.1246 | 0.0100 | get 0.0013% / 1h | 40m 26s | $105K | $213K | 10x |
MEXC OP_USDT
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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: −0.168% → −0.008%
- −$15.99
- Slippage, 4 orders
- −$21.04
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$47.03
- Costs to cover
- 0.310%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 3 min ago; Backpack: live order book, 8 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 MEXC live order book, 3 min ago | 0.40 bp | 4.0 bp −$4 | 32.5 bp −$325 | 82.4 bp −$8,240 | 118.9 bp −$59.4K |
| Sell Backpack live order book, 8 min ago | 2.75 bp | 12.5 bp −$12 | 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 | −0.1583% | 1h | 0.1248 | −0.008% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1248 | +0.009% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0548% | 1h | 0.1252 | +0.312% | $40K | $139K | 25x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1249 | +0.033% | $39K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1248 | +0.010% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0026% | 8h | 0.1251 | +0.204% | $221K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0032% | 8h | 0.1247 | −0.088% | $59K | $107K | 10x | as long as short |
| Kraken Futures PF_OPUSD | +0.0074% | 1h | 0.1254 | +0.479% | $761K | $595K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0095% | 8h | 0.1248 | +0.024% | $6.2M | $28.5M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1249 | +0.032% | $288K | $987K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1249 | +0.056% | $3.5M | $2.8M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1247 | −0.096% | $208K | $218K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1248 | −0.024% | $19.8M | $63.5M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1247 | −0.056% | $18.5M | $25.5M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1247 | −0.056% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDTlong | +0.0100% | 8h | 0.1248 | long leg | $22.4M | $7.5M | 300x | |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1247 | −0.088% | $2.9M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1248 | −0.008% | $5.8M | $6.6M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1247 | −0.048% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1246 | −0.168% | $105K | $213K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1259 | +0.850% | $381K | $768K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1255 | +0.560% | $310K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1260 | +0.953% | $43K | $704K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1252 | +0.288% | $200 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1253 | +0.433% | $171K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1247 | −0.091% | $100K | $505K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1247 | −0.048% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1254 | +0.473% | $25K | $58K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1252 | +0.280% | $1.0M | $276K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0442% | 1h | 0.1247 | −0.055% | $694 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
KuCoin OPUSDTM
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
Reya OPRUSDPERP