OP

Alert

Funding spread now, next payment 14:00 UTC−0.0183%/8h

paid, last 24h−0.045%paid, last 7 days+0.011%to open and close $10k−$46

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% 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	0.1300	0.0251	pay 0.0031% / 1h	38m 34s	$4.2M	$2.9M	5x
Short	OKX OP-USDT-SWAP	0.1298	0.0068	get 0.0068% / 8h	2h 38m	$6.2M	$31.2M	50x

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 OKXbpOrdersRate

Funding earned: −$38.5
Slippage, 4 orders: −$26.61
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$84.11
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; OKX: live order book, 2 min ago.

Price risk

price view

Price gap now: −0.169%
Avg gap 7d: −0.015%

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, 5 min ago	1.54 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.38 bp	11.9 bp −$12	33.3 bp −$333	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 −0.1208% / S +0.0249%	1h	$14K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0520%	1h	$44K	$188K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0416%	1h	$28K	$97K	50x	as long as short
Binance OPUSDT	−0.0106%	8h	$21.2M	$61.5M	75x	as long as short
MEXC OP_USDT	−0.0106%	8h	$20.1M	$8.6M	300x	as long as short
Extended OP-USD	−0.0104%	1h	$105K	$208K	25x	as long as short
Variational Omni OP	−0.0056%	8h	$235K	$36K	—	as long as short
Orderly PERP_OP_USDC	−0.0056%	8h	$7K	$51K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$40K	$10	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin OP-USDT	+0.0014%	8h	$1.1M	$573K	75x	as long as short
Bybit OPUSDT	+0.0020%	8h	$18.2M	$26.2M	75x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$185K	12x	as long as short
Aevo OP-PERP	+0.0056%	1h	$4K	—	3x	as long as short
OKX OP-USDT-SWAPshort	+0.0068%	8h	$6.2M	$31.2M	50x
Lighter OP	+0.0096%	1h	$299K	$333K	15x	as long as short
Aster OPUSDT	+0.0100%	8h	$201K	$418K	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	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.1M	$5.7M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$136K	$152K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$4K	$406K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$47K	$704K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$179	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$190K	$211K	50x	as long as short
Kraken Futures PF_OPUSD	+0.0231%	1h	$801K	$639K	20x	as long as short
Hyperliquid OPlong	+0.0251%	1h	$4.2M	$2.9M	5x
Reya OPRUSDPERP	+0.0429%	1h	$721	—	20x	as long as short