Funding you earn now, next payment 16:00 UTC+0.0181%/8h= +19.8% APRnext payment +$1.81 per $10,000 · paid last 24h +0.037%
Price spread now: BingX against Orderly−0.244%7-day average +0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.123%+$12 on $10k
+Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.244%, 7d avg +0.008%
=Funding pays, the price is against you. BingX is 0.253% cheaper against Orderly than usual: you would sell low and buy high (spread −0.244% now, against its 7-day average of +0.008%). If the spread goes back, that is −$25 on $10k: about 4.7 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.123% in total) that is about 14 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_OP_USDC | 0.1229 | −0.0081 | get 0.0081% / 8h | 4h 52m | $12K | $231K | 10x |
| Short | BingX OP-USDC | 0.1226 | 0.0100 | get 0.0100% / 8h | 4h 52m | — | $1.6M | — |
Orderly PERP_OP_USDC
BingX OP-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Orderly. 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
- $37.97
- Price spread: −0.244% → +0.008%
- −$25.26
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$3.29
- Costs to cover
- 0.160%
- Break-even
- 7.6 days
Slippage unknown: Orderly: no order-book sample; BingX: live order book, 2 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 BingX live order book, 2 min ago | 8.14 bp | 102.2 bp −$102 | 878.5 bp −$8,785 | 1113.3 bp −$111.3K | 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1230 | +0.059% | $13K | — | 100x | as long as short |
| Hyperliquid OP | −0.0526% | 1h | 0.1227 | −0.163% | $3.9M | $3.9M | 5x | as long as short |
| Binance OPUSDT | −0.0136% | 8h | 0.1226 | −0.220% | $18.9M | $65.6M | 75x | as long as short |
| Extended OP-USD | −0.0136% | 1h | 0.1227 | −0.191% | $102K | $638K | 25x | as long as short |
| MEXC OP_USDT | −0.0134% | 8h | 0.1226 | −0.228% | $21.5M | $7.1M | 300x | as long as short |
| Gate OP_USDT | −0.0084% | 8h | 0.1228 | −0.073% | $1.9M | $1.3M | 50x | as long as short |
| Orderly PERP_OP_USDClong | −0.0081% | 8h | 0.1229 | long leg | $12K | $231K | 10x | |
| Coinbase International OP-PERP-INTX | −0.0056% | 1h | 0.1233 | +0.325% | $24K | $68K | 50x | as long as short |
| Kraken Futures PF_OPUSD | −0.0054% | 1h | 0.1230 | +0.118% | $730K | $735K | 20x | as long as short |
| GRVT OP_USDT_Perp | −0.0032% | 8h | 0.1228 | −0.081% | $303K | $5.8M | 10x | as long as short |
GMX OP/USD [OP-USDC]
Hyperliquid OP
Binance OPUSDT
Extended OP-USD
MEXC OP_USDT
Gate OP_USDT
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
GRVT OP_USDT_PerpShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin OP-USDT | −0.0015% | 8h | 0.1228 | −0.098% | $979K | $257K | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1228 | −0.107% | $38K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1230 | +0.081% | $30K | $112K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1230 | +0.048% | — | — | 150x | as long as short |
| Injective OP/USDC PERP | +0.0033% | 1h | 0.1231 | +0.163% | $34K | $67K | 12x | as long as short |
| Variational Omni OP | +0.0048% | 8h | 0.1228 | −0.071% | $218K | $45K | — | as long as short |
| Aevo OP-PERP | +0.0048% | 1h | 0.1228 | −0.070% | $3K | $1K | 3x | as long as short |
| KuCoin OPUSDTM | +0.0062% | 8h | 0.1227 | −0.163% | $2.9M | $5.4M | 75x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1227 | −0.122% | $253K | $1.1M | 15x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1228 | −0.111% | $203K | $211K | 10x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1226 | −0.212% | $17.7M | $24.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1227 | −0.146% | $5.9M | $26.7M | 50x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1227 | −0.163% | $5.8M | $6.7M | 75x | as long as short |
| BingX OP-USDCshort | +0.0100% | 8h | 0.1226 | −0.244% | — | $1.6M | — | |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1228 | −0.081% | $111K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1228 | −0.121% | $4K | $1.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1228 | −0.081% | $42K | $686K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1229 | −0.016% | $186 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1229 | −0.008% | $167K | $263K | 50x | as long as short |
| Reya OPRUSDPERP | +0.0447% | 1h | 0.1227 | −0.137% | $682 | — | 20x | as long as short |
BloFin OP-USDT
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Injective OP/USDC PERP
Variational Omni OP
Aevo OP-PERP
KuCoin OPUSDTM
Lighter OP
Aster OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Bitget OPUSDT
Backpack OP_USDC_PERP
edgeX OPUSDC
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Reya OPRUSDPERP