OPN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0135%/8h= +14.8% APRnext payment +$0.68 per $10,000 · paid last 24h +0.001%

Price spread now: Bybit against Orderly−0.154%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Bybit is 0.154% cheaper against Orderly than usual: you would sell low and buy high (spread −0.154% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 3.8 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_OPN_USDC_mythos	0.05180	0.0100	pay 0.0050% / 4h	3h 39m	$3K	$5K	10x
Short	Bybit OPNUSDT	0.05172	0.0235	get 0.0118% / 4h	3h 39m	$728K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now −0.154%Rate

Funding earned: $28.45
Price spread: −0.154% → 0.000%: −$15.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$4
Costs to cover: 0.170%
Break-even: 8.0 days

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	2.89 bp	17.3 bp −$17	doesn't fit	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.

OPN on 15 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
Aster OPNUSDT	+0.0100%	4h	0.05182	+0.048%	$7K	$18K	5x	as long as short
Binance OPNUSDT	+0.0100%	4h	0.05176	−0.081%	$3.6M	$6.6M	25x	as long as short
OKX OPN-USDT-SWAP	+0.0100%	4h	0.05178	−0.039%	$811K	$3.0M	20x	as long as short
MEXC OPN_USDT	+0.0100%	4h	0.05171	−0.174%	$822K	$317K	50x	as long as short
KuCoin OPNUSDTM	+0.0100%	4h	0.05183	+0.058%	$129K	$64K	25x	as long as short
Bitget OPNUSDT	+0.0100%	4h	0.05176	−0.077%	$586K	$174K	20x	as long as short
Orderly PERP_OPN_USDC_mythoslong	+0.0100%	4h	0.05180	long leg	$3K	$5K	10x
SunX OPN-USDT	+0.0100%	4h	0.05280	+1.931%	$1K	$1.5M	20x	as long as short
BloFin OPN-USDT	+0.0146%	4h	0.05194	+0.270%	$181K	$5K	50x	as long as short
Bybit OPNUSDTshort	+0.0235%	4h	0.05172	−0.154%	$728K	$3.2M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX OPN-USDT	+0.0314%	4h	0.05172	−0.154%	—	$1.7M	—	as long as short
Deribit OPN_USDC-PERPETUAL	+0.0659%	1h	0.05174	−0.118%	—	$203	10x	as long as short
Gate OPN_USDT	+0.0942%	4h	0.05187	+0.135%	$211K	$175K	50x	as long as short
Coinbase International OPN-PERP-INTX	+0.2696%	1h	0.05262	+1.593%	$14K	$6K	50x	as long as short
Kraken Futures PF_OPNUSD	+0.4001%	1h	0.05188	+0.153%	$4K	$5K	20x	as long as short