OP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0043%/8h= +4.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.007%

Price spread now: Binance against Orderly−0.158%49s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.158% cheaper against Orderly than usual: you would sell low and buy high (spread −0.158% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 12 days of funding at the current rate (+$1 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_OP_USDC	0.1267	0.0057	pay 0.0057% / 8h	7h 42m	$6K	$49K	10x
Short	Binance OPUSDT	0.1265	0.0100	get 0.0100% / 8h	7h 42m	$20.5M	$62.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee BinancebpOrdersPrice spread, now −0.158%Rate

Funding earned: $9.01
Price spread: −0.158% → 0.000%: −$15.81
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$22.8
Costs to cover: 0.160%
Break-even: 24.7 days

Slippage unknown: Orderly: no order-book sample; Binance: live order book, 15 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Binance live order book, 15 min ago	0.39 bp	9.4 bp −$9	20.5 bp −$205	91.5 bp −$9,153	doesn't fit

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	−0.1656%	1h	0.1261	−0.474%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1267	0.000%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.395%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0098%	8h	0.1264	−0.237%	$18.4M	$26.0M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1266	−0.063%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1267	0.000%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1267	−0.028%	—	—	150x	as long as short
Variational Omni OP	+0.0052%	8h	0.1266	−0.075%	$231K	$47K	—	as long as short
Orderly PERP_OP_USDClong	+0.0057%	8h	0.1267	long leg	$6K	$49K	10x
Lighter OP	+0.0096%	1h	0.1266	−0.087%	$283K	$947K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1266	−0.071%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1266	−0.063%	$211K	$236K	10x	as long as short
Binance OPUSDTshort	+0.0100%	8h	0.1265	−0.158%	$20.5M	$62.0M	75x
OKX OP-USDT-SWAP	+0.0100%	8h	0.1264	−0.245%	$6.1M	$29.9M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1266	−0.110%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1265	−0.158%	$20.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1265	−0.158%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1265	−0.158%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1264	−0.237%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1266	−0.095%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1267	+0.015%	$4K	$392K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1268	+0.071%	$308K	$4.9M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1267	0.000%	$43K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1266	−0.055%	$186	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1267	+0.032%	$175K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1265	−0.183%	$101K	$304K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1267	−0.013%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1266	−0.095%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0383%	1h	0.1267	+0.006%	$799K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1265	−0.186%	$703	—	20x	as long as short