Funding you earn now, next payment 22:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.102%
Price spread now: Kraken Futures against Orderly+0.109%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.136%+$14 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 +$3 a day on $10k at the current rate, and Kraken Futures is 0.109% dearer against Orderly than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_OP_USDC | 0.1264 | 0.0034 | pay 0.0034% / 8h | 2h 25m | $6K | $50K | 10x |
| Short | Kraken Futures PF_OPUSD | 0.1265 | 0.0136 | get 0.0017% / 1h | 25m 57s | $782K | $731K | 20x |
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $21.38
- Price spread: +0.109% → 0.000%
- $10.85
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $16.24
- Costs to cover
- 0.160%
- Break-even
- 1.7 days
Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 62 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 Kraken Futures live order book, 62 min ago | 8.38 bp | 15.7 bp −$16 | 109.1 bp −$1,091 | doesn't fit | 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 | −0.1658% | 1h | 0.1246 | −1.424% | $34K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1066% / S +0.0229% | 1h | 0.1264 | +0.032% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.661% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | −0.004% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1265 | +0.079% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | +0.024% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0029% | 8h | 0.1256 | −0.661% | $228K | $44K | — | as long as short |
| Orderly PERP_OP_USDClong | +0.0034% | 8h | 0.1264 | long leg | $6K | $50K | 10x | |
| Lighter OP | +0.0096% | 1h | 0.1265 | +0.103% | $272K | $906K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1266 | +0.142% | $4.1M | $3.0M | 5x | 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
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1264 | +0.020% | $212K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1264 | −0.031% | $20.5M | $62.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | −0.087% | $18.4M | $25.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1263 | −0.047% | $5.9M | $29.7M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | +0.016% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | −0.008% | $20.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1263 | −0.079% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1264 | 0.000% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1263 | −0.071% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1264 | −0.008% | $128K | $192K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1255 | −0.683% | $9K | $379K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1256 | −0.633% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1257 | −0.554% | $45K | $718K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1264 | +0.032% | $168 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | −0.016% | $175K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | −0.092% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1264 | +0.009% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSDshort | +0.0136% | 1h | 0.1265 | +0.109% | $782K | $731K | 20x | |
| BloFin OP-USDT | +0.0220% | 8h | 0.1262 | −0.150% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1264 | −0.014% | $703 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
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