OP

Alert

Funding spread now, next payment 17:00 UTC−0.0321%/8h

paid, last 24h−0.008%paid, last 7 days+0.079%to open and close $10k−$59

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.079% in total (about 4.1% a year). A funding rate is set anew for every payment. 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	Hyperliquid OP	0.1268	0.0100	pay 0.0013% / 1h	33m 58s	$3.9M	$3.3M	5x
Short	Bybit OPUSDT	0.1266	−0.0221	pay 0.0221% / 8h	7h 33m	$17.9M	$28.0M	75x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee BybitbpOrdersRate

Funding earned: −$67.33
Slippage, 4 orders: −$39.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$126.74
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Bybit: live order book, 1 min ago.

Price risk

price view

Price gap now: −0.142%
Avg gap 7d: −0.041%

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 Hyperliquid live order book, 9 min ago	2.36 bp	17.1 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.19 bp	13.7 bp −$14	31.0 bp −$310	90.4 bp −$9,044	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 −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0541%	1h	$47K	$200K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0304%	1h	$22K	$91K	50x	as long as short
Bybit OPUSDTshort	−0.0221%	8h	$17.9M	$28.0M	75x
Variational Omni OP	−0.0095%	8h	$235K	$46K	—	as long as short
Orderly PERP_OP_USDC	−0.0076%	8h	$6K	$53K	10x	as long as short
Extended OP-USD	−0.0032%	1h	$101K	$212K	25x	as long as short
Binance OPUSDT	−0.0029%	8h	$20.9M	$69.3M	75x	as long as short
MEXC OP_USDT	−0.0027%	8h	$20.2M	$8.8M	300x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$184K	12x	as long as short
OKX OP-USDT-SWAP	+0.0035%	8h	$6.0M	$33.7M	50x	as long as short
Aevo OP-PERP	+0.0072%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0093%	8h	$1.0M	$584K	75x	as long as short
Lighter OP	+0.0096%	1h	$284K	$862K	15x	as long as short
Hyperliquid OPlong	+0.0100%	1h	$3.9M	$3.3M	5x
Aster OPUSDT	+0.0100%	8h	$214K	$465K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.6M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.8M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$7.0M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$135K	$185K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$46K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$186	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$181K	$272K	50x	as long as short
Reya OPRUSDPERP	+0.0432%	1h	$703	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0470%	1h	$786K	$681K	20x	as long as short