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
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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- 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 |
Coinbase International OP-PERP-INTX
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAP
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
BloFin OP-USDT