Funding you earn now, next payment 06:00 UTC+0.0647%/8h= +70.8% APRpaid last 24h +0.036%
Price spread now: Binance against Deribit−0.011%7-day average +0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$430.428% of the position
Funding, last 7 days+0.214%+$21 on $10k
+Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.011%, 7d avg +0.008%
=The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$19 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.214% in total (about 11.3% a year). A funding rate is set anew for every payment. 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 | Deribit OP_USDC-PERPETUAL | 0.1253 | −0.0547 | get 0.0068% / 1h | 34m 07s | $40K | $139K | 25x |
| Short | Binance OPUSDT | 0.1253 | 0.0100 | get 0.0100% / 8h | 2h 34m | $19.7M | $63.5M | 75x |
Deribit OP_USDC-PERPETUAL
Binance OPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Deribit. 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
- $135.87
- Price spread: −0.011% → +0.008%
- −$1.84
- Slippage, 4 orders
- −$25.78
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $91.25
- Costs to cover
- 0.428%
- Break-even
- 2.3 days
Slippage from Deribit: live order book, 14 min ago; Binance: live order book, 8 min ago.
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 Deribit live order book, 14 min ago | 3.93 bp | 7.4 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 8 min ago | 0.40 bp | 11.8 bp −$12 | 27.4 bp −$274 | 105.5 bp −$10.6K | doesn't fit |
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 | −0.1583% | 1h | 0.1253 | 0.000% | $35K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1254 | +0.097% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUALlong | −0.0547% | 1h | 0.1253 | long leg | $40K | $139K | 25x | |
| dYdX OP-USD | 0.0000% | 1h | 0.1256 | +0.239% | $39K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1255 | +0.136% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0024% | 8h | 0.1253 | 0.000% | $59K | $142K | 10x | as long as short |
| Variational Omni OP | +0.0030% | 8h | 0.1257 | +0.324% | $222K | $48K | — | as long as short |
| Kraken Futures PF_OPUSD | +0.0074% | 1h | 0.1254 | +0.119% | $754K | $625K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0095% | 8h | 0.1252 | −0.072% | $6.2M | $28.6M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1255 | +0.144% | $289K | $987K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1253 | −0.016% | $3.5M | $2.8M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1255 | +0.170% | $207K | $218K | 10x | as long as short |
| Binance OPUSDTshort | +0.0100% | 8h | 0.1253 | −0.011% | $19.7M | $63.5M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1252 | −0.112% | $18.5M | $25.5M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1253 | +0.024% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1253 | −0.016% | $22.9M | $7.6M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1253 | 0.000% | $2.9M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1252 | −0.080% | $5.8M | $6.6M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1253 | 0.000% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1251 | −0.136% | $105K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1256 | +0.219% | $380K | $769K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1259 | +0.479% | $319K | $5.2M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1258 | +0.399% | $43K | $703K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1253 | 0.000% | $192 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1254 | +0.080% | $172K | $236K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1252 | −0.057% | $100K | $505K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1253 | +0.010% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1245 | −0.638% | $26K | $59K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1259 | +0.487% | $1.0M | $278K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0442% | 1h | 0.1253 | +0.016% | $697 | — | 20x | as long as short |
Hyperliquid OP
Aster 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
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP