OP

Alert

Funding spread now, next payment 19:00 UTC+0.1942%/8h

next payment, per $10,000+$2.43paid, last 24h+0.033%paid, last 4 days+0.583%to open and close $10k−$116

The current rate is far above what this pair has been paying: over the last 4 days it paid 0.583% in total (about 56.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.43 per $10,000. 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	Injective OP/USDC PERP	0.1225	−0.1842	get 0.0230% / 1h	14m 08s	$34K	$86K	12x
Short	Hyperliquid OP	0.1237	0.0100	get 0.0013% / 1h	14m 08s	$3.8M	$3.1M	5x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee HyperliquidbpOrdersRate

Funding earned: $407.88
Slippage, 4 orders: −$107.46
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $291.41
Break-even: 2.0 days

Slippage from Injective: live order book, 86 min ago; Hyperliquid: live order book, 9 min ago.

Price risk

price view

Price gap now: +0.947%
Avg gap 7d: +0.107%

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 Injective live order book, 86 min ago	36.31 bp	60.4 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.21 bp	10.1 bp −$10	doesn't fit	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
Injective OP/USDC PERPlong	−0.1842%	1h	$34K	$86K	12x
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	$68K	50x	as long as short
Variational Omni OP	−0.0087%	8h	$224K	$41K	—	as long as short
Orderly PERP_OP_USDC	−0.0033%	8h	$6K	$53K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$437	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$43K	$185K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0042%	8h	$5.7M	$30.2M	50x	as long as short
Gate OP_USDT	+0.0062%	8h	$1.8M	$1.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit OPUSDT	+0.0085%	8h	$17.9M	$26.5M	75x	as long as short
Lighter OP	+0.0096%	1h	$266K	$907K	15x	as long as short
Hyperliquid OPshort	+0.0100%	1h	$3.8M	$3.1M	5x
Aster OPUSDT	+0.0100%	8h	$212K	$268K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	$19.5M	$65.1M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	$19.5M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$3.0M	$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	$197K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$381K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$44K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$176K	$259K	50x	as long as short
Extended OP-USD	+0.0104%	1h	$99K	$206K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	$974K	$305K	75x	as long as short
Reya OPRUSDPERP	+0.0434%	1h	$687	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0544%	1h	$769K	$770K	20x	as long as short