Funding you earn now, next payment 06:00 UTC+0.1140%/8h= +124.8% APRnext payment +$1.42 per $10,000 · paid last 24h +0.399%
Price spread now: Kraken Futures against GMX+0.228%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Kraken Futures is 0.228% dearer against GMX than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX OP/USD [OP-USDC] | 0.1251 | L −0.1065% / S +0.0229% | get 0.0133% / 1h | 3m 05s | $13K | — | 100x |
| Short | Kraken Futures PF_OPUSD | 0.1254 | 0.0074 | get 0.0009% / 1h | 3m 05s | $752K | $633K | 20x |
GMX OP/USD [OP-USDC]
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against GMX. 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
- $239.3
- Price spread: +0.228% → 0.000%
- $22.84
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $240.14
- Costs to cover
- 0.220%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 45 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 GMX no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 45 min ago | 15.31 bp | 28.2 bp −$28 | 68.7 bp −$687 | doesn't fit | doesn't fit |
GMX: 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 PERP | −0.1583% | 1h | 0.1247 | −0.336% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC]long | L −0.1065% / S +0.0229% | 1h | 0.1251 | long leg | $13K | — | 100x | |
| Deribit OP_USDC-PERPETUAL | −0.0548% | 1h | 0.1252 | +0.064% | $33K | $153K | 25x | as long as short |
| Orderly PERP_OP_USDC | −0.0013% | 8h | 0.1252 | +0.064% | $59K | $142K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1252 | +0.068% | $39K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1252 | +0.039% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0005% | 8h | 0.1253 | +0.178% | $222K | $46K | — | as long as short |
| Bybit OPUSDT | +0.0060% | 8h | 0.1252 | +0.064% | $18.4M | $25.7M | 75x | as long as short |
| Kraken Futures PF_OPUSDshort | +0.0074% | 1h | 0.1254 | +0.228% | $752K | $633K | 20x | |
| OKX OP-USDT-SWAP | +0.0095% | 8h | 0.1253 | +0.112% | $6.1M | $29.1M | 50x | as long as short |
Injective OP/USDC PERP
Deribit OP_USDC-PERPETUAL
Orderly PERP_OP_USDC
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Bybit OPUSDT
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1253 | +0.136% | $275K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1252 | +0.096% | $3.4M | $3.3M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1253 | +0.182% | $204K | $213K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1252 | +0.091% | $19.6M | $64.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1253 | +0.120% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1253 | +0.128% | $23.1M | $7.7M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1251 | −0.016% | $2.8M | $6.3M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1252 | +0.064% | $5.8M | $6.7M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1253 | +0.104% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1252 | +0.072% | $105K | $214K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1253 | +0.148% | $380K | $768K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1254 | +0.197% | $309K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1253 | +0.144% | $43K | $704K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1253 | +0.104% | $207 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | +0.056% | $174K | $244K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1252 | +0.068% | $101K | $506K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1252 | +0.075% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1254 | +0.224% | $26K | $60K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1252 | +0.088% | $985K | $306K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1250 | −0.075% | $695 | — | 20x | as long as short |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
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
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP