Funding you earn now, next payment 08:00 UTC−0.0142%/8h= −15.6% APRnext payment −$1.42 per $10,000 · paid last 24h −0.007%
Price spread now: Orderly against MEXC−0.063%7-day average −0.022% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.057%−$6 on $10k
+Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.063%, 7d avg −0.022%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.041% cheaper against MEXC than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.022%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC OP_USDT | 0.1261 | 0.0100 | pay 0.0100% / 8h | 1h 37m | $23.2M | $7.6M | 300x |
| Short | Orderly PERP_OP_USDC | 0.1260 | −0.0042 | pay 0.0042% / 8h | 1h 37m | $59K | $142K | 10x |
MEXC OP_USDT
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$29.85
- Price spread: −0.063% → −0.022%
- −$4.11
- Slippage, 4 orders
- no order book: not counted
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$39.96
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: MEXC: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.
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, 2 min ago | 0.40 bp | 3.3 bp −$3 | 29.7 bp −$297 | 71.6 bp −$7,163 | 113.9 bp −$56.9K |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1760% | 1h | 0.1257 | −0.301% | $35K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1262 | +0.092% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDCshort | −0.0042% | 8h | 0.1260 | −0.063% | $59K | $142K | 10x | |
| Kraken Futures PF_OPUSD | −0.0034% | 1h | 0.1262 | +0.094% | $755K | $652K | 20x | as long as short |
| Variational Omni OP | −0.0012% | 8h | 0.1264 | +0.248% | $224K | $46K | — | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1263 | +0.154% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1262 | +0.095% | $32K | $154K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1263 | +0.174% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1262 | +0.095% | $24K | $64K | 50x | as long as short |
| Bybit OPUSDT | +0.0052% | 8h | 0.1260 | −0.079% | $18.5M | $26.0M | 75x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Kraken Futures PF_OPUSD
Variational Omni OP
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTX
Bybit OPUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin OPUSDTM | +0.0061% | 8h | 0.1261 | +0.016% | $2.8M | $6.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0079% | 8h | 0.1261 | +0.008% | $6.1M | $29.7M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1262 | +0.063% | $277K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1262 | +0.119% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1263 | +0.153% | $209K | $218K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1261 | +0.035% | $19.9M | $66.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1262 | +0.095% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDTlong | +0.0100% | 8h | 0.1261 | long leg | $23.2M | $7.6M | 300x | |
| Bitget OPUSDT | +0.0100% | 8h | 0.1261 | +0.016% | $5.7M | $6.8M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1262 | +0.079% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1261 | +0.024% | $107K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | +0.091% | $382K | $767K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1264 | +0.253% | $312K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1268 | +0.571% | $43K | $699K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1261 | +0.008% | $210 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1262 | +0.095% | $171K | $253K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1260 | −0.035% | $101K | $506K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1261 | +0.052% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1259 | −0.143% | $990K | $316K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1261 | −0.001% | $701 | — | 20x | as long as short |
KuCoin OPUSDTM
OKX OP-USDT-SWAP
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
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