Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against edgeX+0.417%85s7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$460.461% of the position
Funding, last 7 days+0.140%+$14 on $10k
+Price spread, last 4 days (all we have)−0.586%−$59 · spread now +0.417%, 7d avg +0.038%
=Together, before fees−0.446%+ Points / potential airdropedgeX: Active · farm board−$45 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.378% dearer against edgeX than usual: you sell high and buy low, +$38 on $10k if it goes back to its 7-day average of +0.038%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX OPUSDC | 0.1263 | 0.0100 | pay 0.0050% / 4h | 1h 35m | $4K | $389K | 10x |
| Short | Backpack OP_USDC_PERP | 0.1268 | 0.0100 | get 0.0013% / 1h | 35m 57s | $121K | $195K | 10x |
edgeX OPUSDC
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against edgeX. 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
- $0
- Price spread: +0.417% → +0.038%
- $37.83
- Slippage, 4 orders
- −$27.12
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$8.29
- Costs to cover
- 0.461%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 27 min ago; Backpack: live order book, 27 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 edgeX live order book, 27 min ago | 3.96 bp | 11.3 bp −$11 | 129.2 bp −$1,292 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 27 min ago | 1.58 bp | 10.8 bp −$11 | doesn't fit | doesn't fit | 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 | −0.1488% | 1h | 0.1257 | −0.494% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1268 | +0.353% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1266 | +0.183% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1268 | +0.377% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1268 | +0.349% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0035% | 8h | 0.1268 | +0.353% | $6.1M | $29.1M | 50x | as long as short |
| Variational Omni OP | +0.0049% | 8h | 0.1267 | +0.290% | $224K | $50K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1267 | +0.298% | $6K | $45K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1269 | +0.472% | $281K | $934K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1270 | +0.520% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1268 | +0.390% | $212K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1268 | +0.409% | $20.5M | $60.5M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1268 | +0.377% | $18.5M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1268 | +0.377% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1269 | +0.448% | $20.9M | $6.9M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1267 | +0.298% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1268 | +0.377% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1268 | +0.377% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1268 | +0.417% | $121K | $195K | 10x | |
| edgeX OPUSDClong | +0.0100% | 4h | 0.1263 | long leg | $4K | $389K | 10x | |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1262 | −0.098% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1263 | −0.019% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1268 | +0.385% | $184 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1269 | +0.472% | $175K | $216K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1268 | +0.387% | $101K | $389K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1268 | +0.360% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | +0.140% | $24K | $70K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1266 | +0.235% | $1.0M | $272K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1266 | +0.226% | $704 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0489% | 1h | 0.1269 | +0.443% | $801K | $578K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
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
Kraken Futures PF_OPUSD