Funding you earn now, next payment 08:00 UTC−0.0006%/8h= −0.7% APRnext payment −$0.06 per $10,000 · paid last 24h −0.001%
Price spread now: Variational Omni against Orderly−0.377%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.377% cheaper against Orderly than usual: you would sell low and buy high, −$38 on $10k if it 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 | 0.1266 | 0.0054 | pay 0.0054% / 8h | 5h 43m | $6K | $45K | 10x |
| Short | Variational Omni OP | 0.1261 | 0.0048 | get 0.0048% / 8h | 5h 43m | $223K | $50K | — |
Orderly PERP_OP_USDC
Variational Omni OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$1.26
- Price spread: −0.377% → 0.000%
- −$37.68
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$44.95
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 21 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 Variational Omni RFQ quote, 21 min ago | 7.92 bp | doesn't fit | 23.8 bp −$238 | 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 | −0.1488% | 1h | 0.1258 | −0.632% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1267 | +0.073% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1265 | −0.098% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1267 | +0.079% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1266 | +0.038% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0034% | 8h | 0.1267 | +0.087% | $6.1M | $29.1M | 50x | as long as short |
| Variational Omni OPshort | +0.0048% | 8h | 0.1261 | −0.377% | $223K | $50K | — | |
| Orderly PERP_OP_USDClong | +0.0054% | 8h | 0.1266 | long leg | $6K | $45K | 10x | |
| Lighter OP | +0.0096% | 1h | 0.1265 | −0.039% | $281K | $934K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1266 | +0.032% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
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 | 0.1265 | −0.086% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1266 | −0.004% | $20.5M | $60.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1266 | +0.024% | $18.4M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1266 | 0.000% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1266 | −0.024% | $20.7M | $6.9M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1264 | −0.158% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1267 | +0.079% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1267 | +0.079% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | −0.308% | $121K | $195K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1263 | −0.233% | $4K | $391K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1262 | −0.338% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1264 | −0.158% | $43K | $706K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1268 | +0.126% | $182 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1263 | −0.197% | $174K | $218K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1267 | +0.076% | $101K | $389K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1267 | +0.090% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | −0.079% | $24K | $71K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1265 | −0.047% | — | $272K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1266 | −0.018% | $704 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0489% | 1h | 0.1268 | +0.175% | $801K | $581K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit 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
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP
Kraken Futures PF_OPUSD