OP

Alert

Funding spread now, next payment 18:00 UTC+0.0637%/8h

paid, last 24h−0.086%paid, last 5 days−0.209%to open and close $10k−$41

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.209% in total (about -16.3% 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	Bybit OPUSDT	0.1242	−0.0082	get 0.0082% / 8h	6h 20m	$17.6M	$25.8M	75x
Short	Deribit OP_USDC-PERPETUAL	0.1244	0.0555	get 0.0069% / 1h	20m 09s	$44K	$202K	25x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee DeribitbpOrdersRate

Funding earned: $133.74
Slippage, 4 orders: −$23.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $92.6
Break-even: 2.2 days

Slippage from Bybit: live order book, 5 min ago; Deribit: live order book, just now.

Price risk

price view

Price gap now: +0.153%
Avg gap 7d: +0.061%

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 Bybit live order book, 5 min ago	0.40 bp	10.5 bp −$10	27.8 bp −$278	93.1 bp −$9,311	doesn't fit
Sell Deribit live order book, just now	4.02 bp	7.5 bp −$8	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
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	$71K	50x	as long as short
Variational Omni OP	−0.0130%	8h	$226K	$45K	—	as long as short
Bybit OPUSDTlong	−0.0082%	8h	$17.6M	$25.8M	75x
Orderly PERP_OP_USDC	−0.0062%	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	+0.0015%	8h	$5.8M	$31.0M	50x	as long as short
MEXC OP_USDT	+0.0033%	8h	$20.0M	$8.3M	300x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$134K	12x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance OPUSDT	+0.0037%	8h	$20.3M	$65.1M	75x	as long as short
Extended OP-USD	+0.0040%	1h	$99K	$206K	25x	as long as short
Gate OP_USDT	+0.0048%	8h	$1.8M	$1.4M	50x	as long as short
Aevo OP-PERP	+0.0088%	1h	$4K	—	3x	as long as short
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	$202K	$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	$6.0M	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	$191	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$176K	$265K	50x	as long as short
BloFin OP-USDT	+0.0134%	8h	$1.0M	$352K	75x	as long as short
Reya OPRUSDPERP	+0.0433%	1h	$692	—	20x	as long as short
Deribit OP_USDC-PERPETUALshort	+0.0555%	1h	$44K	$202K	25x
Kraken Futures PF_OPUSD	+0.0616%	1h	$774K	$675K	20x	as long as short