OP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.5% APRnext payment −$0.01 per $10,000 · paid last 24h −0.038%

Price spread now: Deribit against gTrade (Gains Network)−0.132%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.132% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$13 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	gTrade (Gains Network) OP/USD	0.1263	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	19m 25s	—	—	150x
Short	Deribit OP_USDC-PERPETUAL	0.1261	0	get 0.0000% / 1h	19m 25s	$42K	$151K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee DeribitbpOrdersPrice spread, now −0.132%Rate

Funding earned: −$0.94
Price spread: −0.132% → 0.000%: −$13.23
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.17
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Deribit: live order book, 49 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Deribit live order book, 49 min ago	7.84 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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 29 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	−0.1535%	1h	0.1261	−0.132%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	−0.096%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+1.293%	$25K	$75K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1262	−0.080%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUALshort	0.0000%	1h	0.1261	−0.132%	$42K	$151K	25x
gTrade (Gains Network) OP/USDlong	L +0.0004% / S −0.0004%	1h	0.1263	long leg	—	—	150x
Variational Omni OP	+0.0056%	8h	0.1263	+0.008%	$225K	$49K	—	as long as short
Orderly PERP_OP_USDC	+0.0056%	8h	0.1262	−0.053%	$6K	$47K	10x	as long as short
OKX OP-USDT-SWAP	+0.0080%	8h	0.1262	−0.037%	$6.1M	$29.8M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1263	+0.010%	$280K	$949K	15x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1263	−0.013%	$3.7M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1262	−0.071%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1262	−0.045%	$20.3M	$62.0M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1261	−0.109%	$18.3M	$26.0M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1263	+0.018%	$1.9M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1262	−0.037%	$20.7M	$7.5M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1261	−0.132%	$2.9M	$6.9M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1263	+0.026%	$5.9M	$6.6M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1262	−0.053%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1261	−0.101%	$124K	$203K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1264	+0.128%	$4K	$389K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1264	+0.100%	$311K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1264	+0.105%	$43K	$704K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1261	−0.148%	$176	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1261	−0.101%	$174K	$225K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1261	−0.133%	$104K	$393K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1261	−0.131%	$3K	$1K	3x	as long as short
Reya OPRUSDPERP	+0.0439%	1h	0.1262	−0.045%	$702	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0462%	1h	0.1262	−0.033%	$797K	$590K	20x	as long as short