OP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1600%/8h= −175.1% APRnext payment −$2.00 per $10,000 · paid last 24h −0.137%

Price spread now: Injective against Coinbase International−0.472%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.042%−$104 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and Injective is 0.472% cheaper against Coinbase International than usual: you would sell low and buy high (−$47 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.042% in total (about -54.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.00 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	Coinbase International OP-PERP-INTX	0.1270	0.0032	pay 0.0004% / 1h	27m 02s	$25K	$58K	50x
Short	Injective OP/USDC PERP	0.1264	−0.1568	pay 0.0196% / 1h	27m 02s	$35K	$58K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now −0.472%Rate

Funding earned: −$335.9
Price spread: −0.472% → 0.000%: −$47.24
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$393.16
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Coinbase International and Injective: 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 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 PERPshort	−0.1568%	1h	0.1264	−0.472%	$35K	$58K	12x
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1265	−0.376%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1266	−0.351%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	−0.394%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1266	−0.344%	—	—	150x	as long as short
Coinbase International OP-PERP-INTXlong	+0.0032%	1h	0.1270	long leg	$25K	$58K	50x
Variational Omni OP	+0.0047%	8h	0.1274	+0.333%	$225K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1265	−0.394%	$6K	$46K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0057%	1h	0.1266	−0.325%	$776K	$553K	20x	as long as short
OKX OP-USDT-SWAP	+0.0089%	8h	0.1265	−0.409%	$6.2M	$28.5M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1265	−0.354%	$275K	$945K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1266	−0.315%	$3.7M	$2.8M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1266	−0.308%	$211K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1265	−0.416%	$20.5M	$60.9M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1264	−0.465%	$18.6M	$24.8M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1265	−0.386%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1265	−0.409%	$21.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1266	−0.315%	$2.8M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1265	−0.394%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1266	−0.315%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	−0.465%	$117K	$207K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1270	−0.018%	$4K	$385K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1269	−0.079%	$317K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1272	+0.157%	$44K	$708K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1265	−0.417%	$183	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1266	−0.307%	$171K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1264	−0.460%	$103K	$393K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	−0.394%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1265	−0.425%	$1.0M	$279K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1265	−0.433%	$703	—	20x	as long as short