Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: HTX against Backpack−0.233%52s7-day average +0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$630.625% of the position
Funding, last 7 days−0.140%−$14 on $10k
+Price spread, last 4 days (all we have)+0.675%+$67 · spread now −0.233%, 7d avg +0.026%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.259% cheaper against Backpack than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.026%. The two prices were read 52 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 | Backpack OP_USDC_PERP | 0.1244 | 0.0100 | pay 0.0013% / 1h | 33m 22s | $116K | $222K | 10x |
| Short | HTX OP-USDT | 0.1241 | 0.0100 | get 0.0100% / 8h | 7h 33m | $165K | $259K | 50x |
Backpack OP_USDC_PERP
HTX OP-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX against Backpack. 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
- $0
- Price spread: −0.233% → +0.026%
- −$25.95
- Slippage, 4 orders
- −$40.53
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$88.48
- Costs to cover
- 0.625%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 65 min ago; HTX: live order book, 63 min ago.
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 Backpack live order book, 65 min ago | 2.01 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell HTX live order book, 63 min ago | 6.83 bp | 20.9 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
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 PERP | −0.1328% | 1h | 0.1235 | −0.692% | $34K | $63K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1240 | −0.281% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0048% | 8h | 0.1239 | −0.370% | $12K | $235K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1240 | −0.305% | $38K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1241 | −0.209% | $31K | $165K | 25x | as long as short |
| KuCoin OPUSDTM | +0.0004% | 8h | 0.1238 | −0.450% | $2.9M | $6.1M | 75x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1244 | +0.047% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0062% | 8h | 0.1241 | −0.197% | $220K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1242 | −0.105% | $286K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1240 | −0.273% | $3.5M | $3.7M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
KuCoin OPUSDTM
gTrade (Gains Network) OP/USD
Variational Omni OP
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 | 0.1241 | −0.249% | $200K | $214K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1240 | −0.330% | $19.2M | $68.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1239 | −0.338% | $18.1M | $26.5M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1240 | −0.257% | $5.9M | $29.4M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1240 | −0.249% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1240 | −0.330% | $22.1M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1240 | −0.289% | $5.7M | $6.9M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1241 | −0.209% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERPlong | +0.0100% | 1h | 0.1244 | long leg | $116K | $222K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1242 | −0.092% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1243 | −0.022% | $310K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1243 | −0.048% | $43K | $693K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1241 | −0.241% | $189 | $6K | 5x | as long as short |
| HTX OP-USDTshort | +0.0100% | 8h | 0.1241 | −0.233% | $165K | $259K | 50x | |
| Extended OP-USD | +0.0104% | 1h | 0.1240 | −0.275% | $99K | $612K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1238 | −0.470% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1244 | +0.032% | $25K | $69K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0156% | 1h | 0.1243 | −0.070% | $740K | $723K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1241 | −0.185% | $994K | $322K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1242 | −0.111% | $691 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDC
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP