OP

Alert

Funding spread now, next payment 17:00 UTC+0.0777%/8h

next payment, per $10,000+$0.97paid, last 24h+0.231%paid, last 3 days+0.383%to open and closeno order book

Long on Coinbase International Short on Reya

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OP-PERP-INTX	0.1237	−0.0344	get 0.0043% / 1h	10m 22s	$21K	$69K	50x
Short	Reya OPRUSDPERP	0.1240	0.0433	get 0.0054% / 1h	10m 22s	$689	—	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee ReyabpOrdersRate

Funding earned: $163.13
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $147.13
Break-even: 0.7 days

Slippage unknown: Coinbase International: no order-book sample; Reya: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.236%
Avg gap 7d: —

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 Coinbase International no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Coinbase International and Reya: 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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
GMX OP/USD [OP-USDC]	L −0.1711% / S +0.0335%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTXlong	−0.0344%	1h	$21K	$69K	50x
Variational Omni OP	−0.0130%	8h	$226K	$40K	—	as long as short
Bybit OPUSDT	−0.0100%	8h	$17.4M	$25.5M	75x	as long as short
Orderly PERP_OP_USDC	−0.0058%	8h	$6K	$54K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$43K	$203K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0015%	8h	$5.8M	$30.4M	50x	as long as short
Gate OP_USDT	+0.0022%	8h	$1.8M	$1.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective OP/USDC PERP	+0.0033%	1h	$25K	$134K	12x	as long as short
MEXC OP_USDT	+0.0046%	8h	$20.0M	$8.4M	300x	as long as short
Binance OPUSDT	+0.0047%	8h	$20.2M	$64.2M	75x	as long as short
Extended OP-USD	+0.0048%	1h	$99K	$206K	25x	as long as short
Lighter OP	+0.0096%	1h	$266K	$917K	15x	as long as short
Aevo OP-PERP	+0.0096%	1h	$4K	—	3x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.2M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$201K	$255K	10x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$5.8M	$5.9M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$7.0M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$126K	$199K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$382K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$718K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$193	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$175K	$264K	50x	as long as short
BloFin OP-USDT	+0.0167%	8h	$1.0M	$335K	75x	as long as short
Reya OPRUSDPERPshort	+0.0433%	1h	$689	—	20x
Kraken Futures PF_OPUSD	+0.0620%	1h	$767K	$672K	20x	as long as short