OP

Alert

Funding spread now, next payment 17:00 UTC+0.0028%/8h

next payment, per $10,000+$0.03paid, last 24h+0.009%paid, last 5 days+0.212%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OP-PERP	0.1268	0.0072	pay 0.0009% / 1h	29m 06s	$4K	—	3x
Short	Backpack OP_USDC_PERP	0.1269	0.0100	get 0.0013% / 1h	29m 06s	$137K	$189K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee AevobpFee BackpackbpOrdersRate

Funding earned: $5.88
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$20.12
Break-even: 31.0 days

Slippage unknown: Aevo: no order-book sample; Backpack: live order book, 16 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.063%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Aevo no order-book sample	—	—	—	—	—
Sell Backpack live order book, 16 min ago	1.97 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit

Aevo: 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 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
GMX OP/USD [OP-USDC]	L −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0304%	1h	$22K	$91K	50x	as long as short
Bybit OPUSDT	−0.0303%	8h	$17.9M	$27.9M	75x	as long as short
Variational Omni OP	−0.0103%	8h	$234K	$43K	—	as long as short
Orderly PERP_OP_USDC	−0.0075%	8h	$6K	$53K	10x	as long as short
Extended OP-USD	−0.0024%	1h	$101K	$212K	25x	as long as short
MEXC OP_USDT	−0.0024%	8h	$20.3M	$8.8M	300x	as long as short
Binance OPUSDT	−0.0022%	8h	$20.8M	$69.2M	75x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$48K	$200K	25x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0029%	8h	$6.0M	$33.7M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$184K	12x	as long as short
Aevo OP-PERPlong	+0.0072%	1h	$4K	—	3x
Lighter OP	+0.0096%	1h	$284K	$863K	15x	as long as short
BloFin OP-USDT	+0.0098%	8h	$1.0M	$585K	75x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$213K	$465K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.6M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERPshort	+0.0100%	1h	$137K	$189K	10x
edgeX OPUSDC	+0.0100%	4h	$8K	$381K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$46K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$182K	$270K	50x	as long as short
Reya OPRUSDPERP	+0.0432%	1h	$705	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0469%	1h	$788K	$681K	20x	as long as short