Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h +0.111%
Price spread now: Extended against Coinbase International−0.373%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.270%+$27 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.373% cheaper against Coinbase International than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.270%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OP-PERP-INTX | 0.1265 | 0.0152 | pay 0.0019% / 1h | 57m 41s | $24K | $71K | 50x |
| Short | Extended OP-USD | 0.1260 | 0.0104 | get 0.0013% / 1h | 57m 41s | $101K | $392K | 25x |
Coinbase International OP-PERP-INTX
Extended OP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Coinbase International. 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
- −$10.08
- Price spread: −0.373% → 0.000%
- −$37.3
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$62.38
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; Extended: live order book, 5 min ago. Net counts fees only.
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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Extended live order book, 5 min ago | 11.85 bp | 21.1 bp −$21 | 146.5 bp −$1,465 | doesn't fit | doesn't fit |
Coinbase International: 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: 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 | −0.1488% | 1h | 0.1261 | −0.316% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1264 | −0.065% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1262 | −0.253% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1265 | 0.000% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | −0.071% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0053% | 8h | 0.1260 | −0.364% | $6.1M | $29.0M | 50x | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1264 | −0.079% | $6K | $46K | 10x | as long as short |
| Variational Omni OP | +0.0055% | 8h | 0.1264 | −0.108% | $223K | $50K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1262 | −0.253% | $280K | $933K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1262 | −0.253% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1262 | −0.237% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1261 | −0.350% | $20.3M | $60.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1260 | −0.379% | $18.3M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1262 | −0.237% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1261 | −0.324% | $20.6M | $6.9M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1261 | −0.316% | $2.9M | $6.8M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1261 | −0.316% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1261 | −0.285% | — | $6.7M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1263 | −0.142% | $121K | $195K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | −0.030% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1263 | −0.120% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1264 | −0.079% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1264 | −0.079% | $180 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1265 | +0.024% | $175K | $218K | 50x | as long as short |
| Extended OP-USDshort | +0.0104% | 1h | 0.1260 | −0.373% | $101K | $392K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1264 | −0.079% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTXlong | +0.0152% | 1h | 0.1265 | long leg | $24K | $71K | 50x | |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1263 | −0.190% | $702 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0490% | 1h | 0.1265 | +0.031% | $800K | $585K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Aevo OP-PERP
Reya OPRUSDPERP
Kraken Futures PF_OPUSD