OP

Alert

Funding spread now, next payment 19:00 UTC+0.0544%/8h

next payment, per $10,000+$0.68paid, last 24h+0.126%paid, last 5 days+0.240%to open and close $10k−$84

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.240% in total (about 18.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.68 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	0.1238	0	get 0.0000% / 1h	9m 33s	$43K	$185K	25x
Short	Kraken Futures PF_OPUSD	0.1239	0.0544	get 0.0068% / 1h	9m 33s	$769K	$770K	20x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Kraken FuturesbpOrdersRate

Funding earned: $114.2
Slippage, 4 orders: −$66.71
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $30.48
Break-even: 5.1 days

Slippage from Deribit: live order book, 6 min ago; Kraken Futures: live order book, 25 min ago.

Price risk

price view

Price gap now: +0.076%
Avg gap 7d: +0.081%

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 Deribit live order book, 6 min ago	8.09 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 25 min ago	15.75 bp	35.4 bp −$35	158.7 bp −$1,587	doesn't fit	doesn't fit

OP on 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective OP/USDC PERP	−0.1842%	1h	$34K	$86K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0336%	1h	$21K	$66K	50x	as long as short
Variational Omni OP	−0.0081%	8h	$225K	$43K	—	as long as short
Orderly PERP_OP_USDC	−0.0029%	8h	$6K	$53K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$437	10x	as long as short
Deribit OP_USDC-PERPETUALlong	0.0000%	1h	$43K	$185K	25x
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0048%	8h	$5.7M	$30.2M	50x	as long as short
Gate OP_USDT	+0.0073%	8h	$1.8M	$1.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	$267K	$907K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.8M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$212K	$266K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	$19.6M	$64.9M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	$18.0M	$26.5M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	$19.5M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$3.0M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$127K	$197K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$44K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$182	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$176K	$259K	50x	as long as short
Extended OP-USD	+0.0104%	1h	$99K	$206K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	$975K	$305K	75x	as long as short
Reya OPRUSDPERP	+0.0434%	1h	$688	—	20x	as long as short
Kraken Futures PF_OPUSDshort	+0.0544%	1h	$769K	$770K	20x