OP

Alert

Funding spread now, next payment 00:00 UTC+0.0457%/8h

next payment, per $10,000+$4.57paid, last 24h−0.024%paid, last 7 days−0.126%to open and close $10k−$69

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.126% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.57 per $10,000. 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	0.1264	−0.0357	get 0.0357% / 8h	7h 22m	$17.9M	$27.6M	75x
Short	Gate OP_USDT	0.1266	0.0100	get 0.0100% / 8h	7h 22m	$1.8M	$1.6M	50x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee GatebpOrdersRate

Funding earned: $95.87
Slippage, 4 orders: −$42.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $27.16
Break-even: 5.0 days

Slippage from Bybit: live order book, 2 min ago; Gate: live order book, 1 min ago.

Price risk

price view

Price gap now: +0.142%
Avg gap 7d: +0.022%

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, 2 min ago	0.40 bp	12.6 bp −$13	30.8 bp −$308	99.3 bp −$9,935	doesn't fit
Sell Gate live order book, 1 min ago	5.92 bp	15.2 bp −$15	61.2 bp −$612	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 −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Bybit OPUSDTlong	−0.0357%	8h	$17.9M	$27.6M	75x
Coinbase International OP-PERP-INTX	−0.0304%	1h	$22K	$85K	50x	as long as short
Variational Omni OP	−0.0108%	8h	$235K	$43K	—	as long as short
Orderly PERP_OP_USDC	−0.0074%	8h	$6K	$53K	10x	as long as short
Binance OPUSDT	−0.0020%	8h	$20.7M	$68.7M	75x	as long as short
MEXC OP_USDT	−0.0019%	8h	$20.2M	$8.8M	300x	as long as short
Extended OP-USD	−0.0016%	1h	$101K	$208K	25x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$47K	$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	+0.0028%	8h	$6.0M	$33.2M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$184K	12x	as long as short
Aevo OP-PERP	+0.0080%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$283K	$900K	15x	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_USDTshort	+0.0100%	8h	$1.8M	$1.6M	50x
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$137K	$187K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$378K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$187	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$180K	$270K	50x	as long as short
BloFin OP-USDT	+0.0100%	8h	$1.0M	$583K	75x	as long as short
Reya OPRUSDPERP	+0.0432%	1h	$704	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0470%	1h	$787K	$678K	20x	as long as short