OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0184%/8h= −20.1% APRnext payment −$0.23 per $10,000 · paid last 24h +1.066%

Price spread now: Coinbase International against Kraken Futures−1.152%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Coinbase International is 1.152% cheaper against Kraken Futures than usual: you would sell low and buy high (−$115 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	Kraken Futures PF_OPNUSD	0.05230	0.3160	pay 0.0395% / 1h	20m 00s	$2K	$7K	20x
Short	Coinbase International OPN-PERP-INTX	0.05170	0.2976	get 0.0372% / 1h	20m 00s	$14K	$15K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now −1.152%Rate

Funding earned: −$38.63
Price spread: −1.152% → 0.000%: −$115.17
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$173.8
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Coinbase International: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Kraken Futures and Coinbase International: 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.

OPN on 15 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
BloFin OPN-USDT	+0.0050%	4h	0.05228	−0.039%	$185K	$6K	50x	as long as short
Aster OPNUSDT	+0.0100%	4h	0.05211	−0.372%	$7K	$17K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05216	−0.265%	$3.7M	$6.6M	25x	as long as short
Bybit OPNUSDT	+0.0100%	4h	0.05215	−0.287%	$743K	$3.3M	20x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05223	−0.134%	$814K	$3.0M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05215	−0.287%	$797K	$311K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05221	−0.173%	$130K	$63K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05218	−0.230%	$591K	$171K	20x	as long as short
BingX OPN-USDT	+0.0100%	4h	0.05219	−0.211%	—	$1.7M	—	as long as short
Orderly PERP_OPN_USDC_mythos	+0.0100%	4h	0.05210	−0.383%	$3K	$5K	10x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX OPN-USDT	+0.0100%	4h	0.05330	+1.911%	$2K	$1.5M	20x	as long as short
Gate OPN_USDT	+0.0586%	4h	0.05222	−0.154%	$212K	$171K	50x	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0996%	1h	0.05221	−0.167%	—	$203	10x	as long as short
Coinbase International OPN-PERP-INTXshort	+0.2976%	1h	0.05170	−1.152%	$14K	$15K	50x
Kraken Futures PF_OPNUSDlong	+0.3160%	1h	0.05230	long leg	$2K	$7K	20x