OP

Alert

Funding spread now, next payment 19:00 UTC+0.0333%/8h

next payment, per $10,000+$0.42paid, last 24h+0.097%paid, last 3 days+0.278%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid OP	0.1236	0.0100	pay 0.0013% / 1h	34m 36s	$3.8M	$3.1M	5x
Short	Reya OPRUSDPERP	0.1236	0.0433	get 0.0054% / 1h	34m 36s	$687	—	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee ReyabpOrdersRate

Funding earned: $70
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $55
Break-even: 1.5 days

Slippage unknown: Hyperliquid: live order book, 8 min ago; Reya: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.019%
Avg gap 7d: —

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, 8 min ago	0.81 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective OP/USDC PERP	−0.1842%	1h	$34K	$86K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0336%	1h	$21K	$69K	50x	as long as short
Variational Omni OP	−0.0113%	8h	$224K	$41K	—	as long as short
Orderly PERP_OP_USDC	−0.0043%	8h	$6K	$54K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$43K	$186K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
Bybit OPUSDT	+0.0015%	8h	$18.1M	$26.7M	75x	as long as short
OKX OP-USDT-SWAP	+0.0018%	8h	$5.6M	$30.4M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate OP_USDT	+0.0054%	8h	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0086%	8h	$19.5M	$7.4M	300x	as long as short
Binance OPUSDT	+0.0086%	8h	$19.6M	$65.6M	75x	as long as short
Extended OP-USD	+0.0088%	1h	$99K	$206K	25x	as long as short
Lighter OP	+0.0096%	1h	$266K	$905K	15x	as long as short
Hyperliquid OPlong	+0.0100%	1h	$3.8M	$3.1M	5x
Aster OPUSDT	+0.0100%	8h	$211K	$268K	10x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.2M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$6.5M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$127K	$199K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$378K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$44K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$204	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$176K	$260K	50x	as long as short
Aevo OP-PERP	+0.0104%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0206%	8h	$982K	$314K	75x	as long as short
Reya OPRUSDPERPshort	+0.0433%	1h	$687	—	20x
Kraken Futures PF_OPUSD	+0.0545%	1h	$767K	$788K	20x	as long as short