OP

Alert

Funding spread now, next payment 15:00 UTC+0.0236%/8h

next payment, per $10,000+$0.29paid, last 24h+0.030%paid, last 7 days−0.041%to open and close $10k−$63

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.041% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.29 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	Extended OP-USD	0.1281	−0.0136	get 0.0017% / 1h	6m 24s	$103K	$214K	25x
Short	Hyperliquid OP	0.1285	0.0100	get 0.0013% / 1h	6m 24s	$4.1M	$3.1M	5x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee ExtendedbpFee HyperliquidbpOrdersRate

Funding earned: $49.56
Slippage, 4 orders: −$48.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$13.16
Break-even: 8.9 days

Slippage from Extended: live order book, 48 min ago; Hyperliquid: live order book, 7 min ago.

Price risk

price view

Price gap now: +0.249%
Avg gap 7d: +0.093%

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 Extended live order book, 48 min ago	11.82 bp	21.0 bp −$21	141.7 bp −$1,417	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.57 bp	10.3 bp −$10	doesn't fit	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
GMX OP/USD [OP-USDC]	L −0.1469% / S +0.0291%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	$27K	$84K	50x	as long as short
Extended OP-USDlong	−0.0136%	1h	$103K	$214K	25x
MEXC OP_USDT	−0.0132%	8h	$20.2M	$8.9M	300x	as long as short
Binance OPUSDT	−0.0131%	8h	$21.0M	$65.6M	75x	as long as short
Orderly PERP_OP_USDC	−0.0081%	8h	$7K	$53K	10x	as long as short
Variational Omni OP	−0.0065%	8h	$235K	$45K	—	as long as short
BloFin OP-USDT	−0.0012%	8h	$1.0M	$586K	75x	as long as short
dYdX OP-USD	0.0000%	1h	$40K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$48K	$199K	25x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
gTrade (Gains Network) OP/USD	L +0.0005% / S −0.0004%	1h	$1K	—	150x	as long as short
Bybit OPUSDT	+0.0012%	8h	$18.0M	$27.4M	75x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$238K	12x	as long as short
Aevo OP-PERP	+0.0048%	1h	$4K	—	3x	as long as short
OKX OP-USDT-SWAP	+0.0060%	8h	$6.1M	$32.7M	50x	as long as short
Lighter OP	+0.0096%	1h	$373K	$754K	15x	as long as short
Hyperliquid OPshort	+0.0100%	1h	$4.1M	$3.1M	5x
Aster OPUSDT	+0.0100%	8h	$202K	$433K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.7M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$6.9M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.1M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$133K	$167K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$10K	$414K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$46K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$178	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$192K	$244K	50x	as long as short
Kraken Futures PF_OPUSD	+0.0141%	1h	$792K	$660K	20x	as long as short
Reya OPRUSDPERP	+0.0430%	1h	$713	—	20x	as long as short