Funding you earn now, next payment 06:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h +0.166%
Price spread now: Kraken Futures against Coinbase International−0.185%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+0.334%+$33 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 −$2 a day on $10k at the current rate, and Kraken Futures is 0.185% cheaper against Coinbase International than usual: you would sell low and buy high (−$19 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 +0.334%, 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 | 0.1253 | 0.0032 | pay 0.0004% / 1h | 28m 05s | $24K | $64K | 50x |
| Short | Kraken Futures PF_OPUSD | 0.1251 | −0.0034 | pay 0.0004% / 1h | 28m 05s | $748K | $656K | 20x |
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$13.87
- Price spread: −0.185% → 0.000%
- −$18.54
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$52.4
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; Kraken Futures: live order book, 15 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 Kraken Futures live order book, 15 min ago | 9.88 bp | 27.2 bp −$27 | 95.2 bp −$952 | 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 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 PERP | −0.1760% | 1h | 0.1249 | −0.319% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.0898% / S +0.0202% | 1h | 0.1250 | −0.274% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0051% | 8h | 0.1248 | −0.399% | $59K | $177K | 10x | as long as short |
| Kraken Futures PF_OPUSDshort | −0.0034% | 1h | 0.1251 | −0.185% | $748K | $656K | 20x | |
| Variational Omni OP | −0.0014% | 8h | 0.1259 | +0.465% | $222K | $46K | — | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1255 | +0.142% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1249 | −0.319% | $32K | $154K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1250 | −0.262% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTXlong | +0.0032% | 1h | 0.1253 | long leg | $24K | $64K | 50x | |
| Bybit OPUSDT | +0.0059% | 8h | 0.1250 | −0.239% | $18.3M | $26.1M | 75x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
Variational Omni OP
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Bybit OPUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin OPUSDTM | +0.0061% | 8h | 0.1248 | −0.399% | $2.8M | $6.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0076% | 8h | 0.1250 | −0.200% | $6.1M | $29.4M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1250 | −0.255% | $275K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1250 | −0.247% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1250 | −0.208% | $207K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1250 | −0.223% | $19.7M | $66.7M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1249 | −0.287% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1250 | −0.271% | $22.3M | $8.0M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1250 | −0.239% | $5.7M | $6.8M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1250 | −0.239% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1249 | −0.311% | $107K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1260 | +0.525% | $382K | $769K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1259 | +0.459% | $310K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | +0.638% | $43K | $700K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1249 | −0.295% | $202 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1249 | −0.295% | $169K | $253K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1249 | −0.339% | $102K | $510K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1249 | −0.310% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1251 | −0.184% | $992K | $324K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1251 | −0.152% | $696 | — | 20x | as long as short |
KuCoin OPUSDTM
OKX OP-USDT-SWAP
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
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
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP