Funding you earn now, next payment 11:00 UTC−0.0141%/8h= −15.4% APRpaid last 24h −0.064%
Price spread now: GMX against Orderly+0.084%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. GMX is 0.084% dearer against Orderly than usual: you sell high and buy low (spread +0.084% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 48 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_OP_USDC | 0.1246 | −0.0059 | get 0.0059% / 8h | 5h 59m | $12K | $232K | 10x |
| Short | GMX OP/USD [OP-USDC] | 0.1247 | L −0.0886% / S +0.0200% | pay 0.0025% / 1h | 59m 00s | $13K | — | 100x |
Orderly PERP_OP_USDC
GMX OP/USD [OP-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$29.55
- Price spread: +0.084% → 0.000%
- $8.43
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$39.12
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample | — | — | — | — | — |
| Sell GMX no order-book sample | — | — | — | — | — |
Orderly and GMX: 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]short | L −0.0886% / S +0.0200% | 1h | 0.1247 | +0.084% | $13K | — | 100x | |
| Hyperliquid OP | −0.0640% | 1h | 0.1245 | −0.064% | $3.8M | $4.0M | 5x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0552% | 1h | 0.1246 | 0.000% | $31K | $112K | 25x | as long as short |
| Orderly PERP_OP_USDClong | −0.0059% | 8h | 0.1246 | long leg | $12K | $232K | 10x | |
| Coinbase International OP-PERP-INTX | −0.0048% | 1h | 0.1244 | −0.161% | $25K | $67K | 50x | as long as short |
| SoDEX OP-USD | −0.0024% | 1h | 0.1246 | +0.008% | $194 | $5K | 5x | as long as short |
| Binance OPUSDT | −0.0019% | 8h | 0.1245 | −0.040% | $19.2M | $66.1M | 75x | as long as short |
| MEXC OP_USDT | −0.0017% | 8h | 0.1246 | −0.008% | $22.0M | $7.3M | 300x | as long as short |
| Extended OP-USD | −0.0016% | 1h | 0.1246 | −0.011% | $100K | $581K | 25x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1248 | +0.161% | $39K | $522 | 10x | as long as short |
Hyperliquid OP
Deribit OP_USDC-PERPETUAL
Coinbase International OP-PERP-INTX
SoDEX OP-USD
Binance OPUSDT
MEXC OP_USDT
Extended OP-USD
dYdX OP-USDShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1246 | −0.016% | — | — | 150x | as long as short |
| Gate OP_USDT | +0.0015% | 8h | 0.1247 | +0.072% | $2.0M | $1.3M | 50x | as long as short |
| Injective OP/USDC PERP | +0.0033% | 1h | 0.1257 | +0.883% | $35K | $67K | 12x | as long as short |
| GRVT OP_USDT_Perp | +0.0039% | 8h | 0.1247 | +0.045% | $304K | $5.5M | 10x | as long as short |
| Variational Omni OP | +0.0065% | 8h | 0.1244 | −0.148% | $220K | $46K | — | as long as short |
| Aevo OP-PERP | +0.0080% | 1h | 0.1247 | +0.070% | $3K | $1K | 3x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1247 | +0.080% | $264K | $1.1M | 15x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1247 | +0.080% | $207K | $211K | 10x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1246 | −0.008% | $18.1M | $24.6M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1246 | 0.000% | $6.0M | $27.8M | 50x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1246 | 0.000% | $2.9M | $5.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1246 | 0.000% | $5.8M | $6.7M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1247 | +0.080% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1246 | −0.008% | $109K | $219K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1244 | −0.164% | $4K | $1.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1244 | −0.161% | $43K | $688K | 50x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1247 | +0.112% | $169K | $252K | 50x | as long as short |
| BloFin OP-USDT | +0.0101% | 8h | 0.1247 | +0.088% | $983K | $282K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0155% | 1h | 0.1248 | +0.185% | $742K | $746K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0446% | 1h | 0.1246 | −0.019% | $693 | — | 20x | as long as short |
gTrade (Gains Network) OP/USD
Gate OP_USDT
Injective OP/USDC PERP
GRVT OP_USDT_Perp
Variational Omni OP
Aevo OP-PERP
Lighter OP
Aster OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
ApeX Omni OPUSDT
HTX OP-USDT
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP