Funding you earn now, next payment 07:00 UTC−0.1760%/8h= −192.8% APRnext payment −$2.20 per $10,000 · paid last 24h −0.232%
Price spread now: Injective against Deribit−0.560%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−1.084%−$108 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 −$53 a day on $10k at the current rate, and Injective is 0.560% cheaper against Deribit than usual: you would sell low and buy high (−$56 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 -1.084% in total (about -56.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.20 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 | Deribit OP_USDC-PERPETUAL | 0.1251 | 0 | get 0.0000% / 1h | 2m 52s | $32K | $154K | 25x |
| Short | Injective OP/USDC PERP | 0.1244 | −0.1760 | pay 0.0220% / 1h | 2m 52s | $34K | $59K | 12x |
Deribit OP_USDC-PERPETUAL
Injective OP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$369.69
- Price spread: −0.560% → 0.000%
- −$55.96
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$432.66
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 41 min ago; 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 Deribit live order book, 41 min ago | 7.92 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | −0.1760% | 1h | 0.1244 | −0.560% | $34K | $59K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.0898% / S +0.0202% | 1h | 0.1250 | −0.043% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0055% | 8h | 0.1251 | 0.000% | $12K | $236K | 10x | as long as short |
| Kraken Futures PF_OPUSD | −0.0034% | 1h | 0.1251 | +0.029% | $751K | $666K | 20x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1251 | −0.018% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1251 | long leg | $32K | $154K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1251 | −0.006% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0016% | 8h | 0.1255 | +0.314% | $222K | $47K | — | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1251 | 0.000% | $24K | $65K | 50x | as long as short |
| KuCoin OPUSDTM | +0.0068% | 8h | 0.1249 | −0.160% | $2.8M | $6.2M | 75x | as long as short |
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Coinbase International OP-PERP-INTX
KuCoin OPUSDTMShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1251 | +0.032% | $274K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1250 | −0.064% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1251 | −0.038% | $205K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1249 | −0.139% | $19.7M | $67.1M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1249 | −0.168% | $18.3M | $26.1M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1249 | −0.136% | $6.0M | $29.4M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1251 | 0.000% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1249 | −0.136% | $22.4M | $8.0M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1250 | −0.080% | $5.7M | $6.9M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1250 | −0.120% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1250 | −0.072% | $115K | $220K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1254 | +0.233% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1253 | +0.150% | $310K | $5.2M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1255 | +0.320% | $43K | $697K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1250 | −0.064% | $206 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1251 | +0.032% | $167K | $255K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1249 | −0.164% | $108K | $519K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1250 | −0.061% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1250 | −0.088% | $990K | $323K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0444% | 1h | 0.1250 | −0.041% | $695 | — | 20x | as long as short |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDT
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