Funding you earn now, next payment 22:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.062%
Price spread now: GMX against Variational Omni−0.282%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
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GMX is 0.282% cheaper against Variational Omni than usual: you would sell low and buy high (−$28 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni OP | 0.1249 | 0.0001 | pay 0.0001% / 8h | 2h 56m | $227K | $44K | — |
| Short | GMX OP/USD [OP-USDC] | 0.1246 | L −0.1066% / S +0.0229% | pay 0.0029% / 1h | 56m 58s | $13K | — | 100x |
Variational Omni OP
GMX OP/USD [OP-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Variational Omni. 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
- −$48.3
- Price spread: −0.282% → 0.000%
- −$28.17
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$88.47
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 32 min ago; 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 Variational Omni RFQ quote, 32 min ago | 3.98 bp | doesn't fit | 35.8 bp −$358 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
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 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 | 0.1239 | −0.806% | $34K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC]short | L −0.1066% / S +0.0229% | 1h | 0.1246 | −0.282% | $13K | — | 100x | |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −0.486% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1245 | −0.302% | $38K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1246 | −0.246% | $43K | $194K | 25x | as long as short |
| Variational Omni OPlong | +0.0001% | 8h | 0.1249 | long leg | $227K | $44K | — | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1246 | −0.271% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0026% | 8h | 0.1245 | −0.326% | $6K | $51K | 10x | as long as short |
| OKX OP-USDT-SWAP | +0.0094% | 8h | 0.1248 | −0.118% | $5.8M | $29.7M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1246 | −0.206% | $266K | $899K | 15x | as long as short |
Injective OP/USDC PERP
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1248 | −0.110% | $3.9M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1245 | −0.313% | $210K | $243K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1246 | −0.224% | $20.1M | $63.3M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1246 | −0.230% | $18.4M | $25.6M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1246 | −0.270% | $1.8M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1245 | −0.326% | $20.0M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1246 | −0.246% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1248 | −0.086% | $5.9M | $6.3M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1245 | −0.286% | — | $6.9M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1246 | −0.270% | $127K | $195K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1247 | −0.190% | $9K | $379K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1246 | −0.246% | $303K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1246 | −0.246% | $45K | $719K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1245 | −0.334% | $152 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1245 | −0.294% | $177K | $228K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1247 | −0.132% | $100K | $196K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1245 | −0.326% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0138% | 1h | 0.1246 | −0.232% | $770K | $744K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1245 | −0.286% | $997K | $294K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1245 | −0.319% | $692 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
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
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP