Funding you earn now, next payment 08:00 UTC+0.0041%/8h= +4.5% APRnext payment +$0.41 per $10,000 · paid last 24h +0.024%
Price spread now: Bybit against Orderly+0.056%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.078%+$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.056% dearer against Orderly than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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 | 0.1250 | 0.0059 | pay 0.0059% / 8h | 6h 54m | $6K | $47K | 10x |
| Short | Bybit OPUSDT | 0.1251 | 0.0100 | get 0.0100% / 8h | 6h 54m | $18.1M | $26.2M | 75x |
Orderly PERP_OP_USDC
Bybit OPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $8.67
- Price spread: +0.056% → 0.000%
- $5.6
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$2.73
- Costs to cover
- 0.170%
- Break-even
- 9.2 days
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 0.79 bp | 13.1 bp −$13 | 28.3 bp −$283 | 149.4 bp −$14.9K | 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 | −0.1535% | 1h | 0.1246 | −0.320% | $34K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1251 | +0.087% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0184% | 1h | 0.1279 | +2.320% | $25K | $77K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1255 | +0.383% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1250 | 0.000% | $41K | $163K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1251 | +0.082% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0058% | 8h | 0.1251 | +0.052% | $222K | $52K | — | as long as short |
| Orderly PERP_OP_USDClong | +0.0059% | 8h | 0.1250 | long leg | $6K | $47K | 10x | |
| Lighter OP | +0.0096% | 1h | 0.1255 | +0.440% | $280K | $946K | 15x | as long as short |
| OKX OP-USDT-SWAP | +0.0098% | 8h | 0.1252 | +0.120% | $6.1M | $29.8M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Lighter OP
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1253 | +0.208% | $3.8M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1254 | +0.326% | $209K | $231K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1252 | +0.138% | $20.2M | $62.4M | 75x | as long as short |
| Bybit OPUSDTshort | +0.0100% | 8h | 0.1251 | +0.056% | $18.1M | $26.2M | 75x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1252 | +0.192% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1254 | +0.312% | $20.3M | $7.4M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1253 | +0.240% | $2.9M | $7.0M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1252 | +0.160% | $5.9M | $6.6M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1252 | +0.160% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1250 | +0.016% | $120K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | +0.961% | $4K | $387K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1257 | +0.560% | $306K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1262 | +0.960% | $43K | $726K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1250 | +0.032% | $166 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | +0.136% | $173K | $235K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1252 | +0.193% | $100K | $395K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1250 | −0.028% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1252 | +0.136% | $1.0M | $273K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0439% | 1h | 0.1251 | +0.092% | $696 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0466% | 1h | 0.1252 | +0.156% | $790K | $747K | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
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
Reya OPRUSDPERP
Kraken Futures PF_OPUSD