OP

Alert

Funding spread now, next payment 18:00 UTC−0.0056%/8h

next payment, per $10,000−$0.07paid, last 24h−0.029%paid, last 5 days−0.011%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OP-PERP	0.1240	0.0088	pay 0.0011% / 1h	22m 59s	$4K	—	3x
Short	Extended OP-USD	0.1243	0.0032	get 0.0004% / 1h	22m 59s	$99K	$206K	25x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee AevobpFee ExtendedbpOrdersRate

Funding earned: −$11.76
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$32.76
Break-even: never at this rate

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

Price risk

price view

Price gap now: +0.250%
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 Extended live order book, 16 min ago	20.12 bp	29.7 bp −$30	160.0 bp −$1,600	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 −0.1711% / S +0.0335%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	$21K	$73K	50x	as long as short
Variational Omni OP	−0.0131%	8h	$227K	$45K	—	as long as short
Bybit OPUSDT	−0.0071%	8h	$17.6M	$26.0M	75x	as long as short
Orderly PERP_OP_USDC	−0.0063%	8h	$6K	$54K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$10	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0011%	8h	$5.8M	$31.2M	50x	as long as short
MEXC OP_USDT	+0.0028%	8h	$20.0M	$8.3M	300x	as long as short
Binance OPUSDT	+0.0030%	8h	$20.2M	$65.4M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Extended OP-USDshort	+0.0032%	1h	$99K	$206K	25x
Injective OP/USDC PERP	+0.0033%	1h	$25K	$134K	12x	as long as short
Gate OP_USDT	+0.0073%	8h	$1.8M	$1.4M	50x	as long as short
Aevo OP-PERPlong	+0.0088%	1h	$4K	—	3x
Lighter OP	+0.0096%	1h	$266K	$916K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$213K	$259K	10x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$5.9M	$6.1M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$7.1M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$127K	$199K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$192	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$176K	$265K	50x	as long as short
BloFin OP-USDT	+0.0120%	8h	$1.0M	$353K	75x	as long as short
Reya OPRUSDPERP	+0.0433%	1h	$690	—	20x	as long as short
Deribit OP_USDC-PERPETUAL	+0.0556%	1h	$47K	$210K	25x	as long as short
Kraken Futures PF_OPUSD	+0.0616%	1h	$773K	$676K	20x	as long as short