OP

Alert

Funding spread now, next payment 19:00 UTC−0.1936%/8h

paid, last 24h+0.006%paid, last 4 days−0.639%to open and close $10k−$118

The current rate is far above what this pair has been paying: over the last 4 days it paid -0.639% in total (about -62.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPUSDT	0.1238	0.0094	pay 0.0094% / 8h	5h 29m	$19.6M	$65.5M	75x
Short	Injective OP/USDC PERP	0.1230	−0.1842	pay 0.0230% / 1h	29m 35s	$34K	$86K	12x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee InjectivebpOrdersRate

Funding earned: −$406.64
Slippage, 4 orders: −$107.49
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$524.15
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Injective: live order book, 71 min ago.

Price risk

price view

Price gap now: −0.636%
Avg gap 7d: −0.089%

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 Binance live order book, 14 min ago	0.40 bp	10.4 bp −$10	20.7 bp −$207	99.2 bp −$9,919	doesn't fit
Sell Injective live order book, 71 min ago	36.31 bp	36.3 bp −$36	doesn't fit	doesn't fit	doesn't fit

OP on 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective OP/USDC PERPshort	−0.1842%	1h	$34K	$86K	12x
GMX OP/USD [OP-USDC]	L −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0336%	1h	$21K	$69K	50x	as long as short
Variational Omni OP	−0.0105%	8h	$224K	$41K	—	as long as short
Orderly PERP_OP_USDC	−0.0042%	8h	$6K	$54K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$43K	$186K	25x	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	+0.0024%	8h	$5.7M	$30.4M	50x	as long as short
Bybit OPUSDT	+0.0044%	8h	$18.2M	$26.7M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate OP_USDT	+0.0048%	8h	$1.8M	$1.5M	50x	as long as short
Extended OP-USD	+0.0088%	1h	$99K	$206K	25x	as long as short
MEXC OP_USDT	+0.0091%	8h	$19.5M	$7.4M	300x	as long as short
Binance OPUSDTlong	+0.0094%	8h	$19.6M	$65.5M	75x
Lighter OP	+0.0096%	1h	$267K	$907K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.8M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$212K	$268K	10x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$3.0M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.2M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$6.5M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$127K	$198K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$10K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$44K	$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	$259K	50x	as long as short
Aevo OP-PERP	+0.0104%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0209%	8h	$986K	$315K	75x	as long as short
Reya OPRUSDPERP	+0.0433%	1h	$688	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0544%	1h	$769K	$789K	20x	as long as short