Funding you earn now, next payment 04:00 UTC−0.1653%/8h= −181.0% APRpaid last 24h −0.203%
Price spread now: Injective against Variational Omni−0.090%106s7-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 −$50 a day on $10k at the current rate, and Injective is 0.090% cheaper against Variational Omni than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 106 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 | Variational Omni OP | 0.1253 | 0.0046 | pay 0.0046% / 8h | 4h 31m | $222K | $49K | — |
| Short | Injective OP/USDC PERP | 0.1252 | −0.1607 | pay 0.0201% / 1h | 31m 23s | $35K | $58K | 12x |
Variational Omni OP
Injective OP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$347.08
- Price spread: −0.090% → 0.000%
- −$9.02
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$356.12
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 28 min ago; Injective: 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, 28 min ago | 7.92 bp | doesn't fit | 23.8 bp −$238 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 PERPshort | −0.1607% | 1h | 0.1252 | −0.090% | $35K | $58K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1271 | +1.455% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1271 | +1.408% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1268 | +1.187% | $42K | $141K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1272 | +1.480% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0043% | 8h | 0.1271 | +1.418% | $6.2M | $28.9M | 50x | as long as short |
| Variational Omni OPlong | +0.0046% | 8h | 0.1253 | long leg | $222K | $49K | — | |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1271 | +1.426% | $6K | $45K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1271 | +1.434% | $280K | $940K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1273 | +1.570% | $3.7M | $2.8M | 5x | as long as short |
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Orderly PERP_OP_USDC
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 | 0.1271 | +1.442% | $212K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1272 | +1.491% | $20.6M | $60.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1270 | +1.386% | $18.6M | $25.2M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1272 | +1.506% | $2.0M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1271 | +1.434% | $21.5M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1271 | +1.426% | $2.9M | $6.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1272 | +1.506% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1271 | +1.426% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1268 | +1.195% | $123K | $200K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1257 | +0.275% | $4K | $388K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1257 | +0.291% | $314K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | +0.628% | $43K | $710K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1268 | +1.195% | $205 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1267 | +1.083% | $174K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1271 | +1.419% | $102K | $391K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1268 | +1.187% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | +0.708% | $24K | $69K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1265 | +0.939% | $1.0M | $279K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0347% | 1h | 0.1268 | +1.203% | $790K | $565K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1271 | +1.453% | $707 | — | 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
Kraken Futures PF_OPUSD
Reya OPRUSDPERP