OP

Alert

Funding spread now, next payment 16:00 UTC+0.0196%/8h

paid, last 24h+0.098%paid, last 3 days+0.067%to open and closeno order book

Long on Coinbase International Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OP-PERP-INTX	0.1263	−0.0304	get 0.0038% / 1h	21m 33s	$22K	$85K	50x
Short	Variational Omni OP	0.1268	−0.0108	pay 0.0108% / 8h	7h 21m	$235K	$43K	—

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Variational OmnibpOrdersRate

Funding earned: $41.16
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $31.16
Break-even: 1.7 days

Slippage unknown: Coinbase International: no order-book sample; Variational Omni: RFQ quote, 24 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.378%
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 Variational Omni RFQ quote, 24 min ago	3.97 bp	doesn't fit	19.8 bp −$198	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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
GMX OP/USD [OP-USDC]	L −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Bybit OPUSDT	−0.0375%	8h	$17.8M	$27.6M	75x	as long as short
Coinbase International OP-PERP-INTXlong	−0.0304%	1h	$22K	$85K	50x
Variational Omni OPshort	−0.0108%	8h	$235K	$43K	—
Orderly PERP_OP_USDC	−0.0074%	8h	$6K	$53K	10x	as long as short
Binance OPUSDT	−0.0020%	8h	$20.6M	$68.7M	75x	as long as short
MEXC OP_USDT	−0.0018%	8h	$20.2M	$8.8M	300x	as long as short
Extended OP-USD	−0.0016%	1h	$101K	$208K	25x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$47K	$200K	25x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0028%	8h	$6.0M	$33.1M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$184K	12x	as long as short
Aevo OP-PERP	+0.0080%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$283K	$900K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$213K	$465K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.6M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$136K	$187K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$378K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$180	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$180K	$270K	50x	as long as short
BloFin OP-USDT	+0.0100%	8h	$1.0M	$583K	75x	as long as short
Reya OPRUSDPERP	+0.0432%	1h	$702	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0470%	1h	$785K	$678K	20x	as long as short