Funding you earn now, next payment 22:00 UTC+0.1699%/8h= +186.1% APRpaid last 24h +0.075%
Price spread now: Orderly against Injective+0.239%58s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.162%+$116 on $10k
+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 +$51 a day on $10k at the current rate, and Orderly is 0.239% dearer against Injective than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.162% in total (about 60.6% 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 | Injective OP/USDC PERP | 0.1254 | −0.1658 | get 0.0207% / 1h | 5m 28s | $35K | $58K | 12x |
| Short | Orderly PERP_OP_USDC | 0.1257 | 0.0042 | get 0.0042% / 8h | 2h 05m | $6K | $50K | 10x |
Injective OP/USDC PERP
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Injective. 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
- $356.87
- Price spread: +0.239% → 0.000%
- $23.92
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $374.77
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Injective and Orderly: 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 PERPlong | −0.1658% | 1h | 0.1254 | long leg | $35K | $58K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1257 | +0.269% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0545% | 1h | 0.1257 | +0.239% | $41K | $171K | 25x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −0.877% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1258 | +0.319% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1258 | +0.319% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0035% | 8h | 0.1260 | +0.448% | $230K | $44K | — | as long as short |
| Orderly PERP_OP_USDCshort | +0.0042% | 8h | 0.1257 | +0.239% | $6K | $50K | 10x | |
| OKX OP-USDT-SWAP | +0.0090% | 8h | 0.1256 | +0.152% | $5.9M | $29.7M | 50x | as long as short |
| Gate OP_USDT | +0.0095% | 8h | 0.1257 | +0.207% | $1.8M | $1.5M | 50x | as long as short |
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
OKX OP-USDT-SWAP
Gate OP_USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1258 | +0.343% | $270K | $908K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1259 | +0.407% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1258 | +0.290% | $211K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1256 | +0.178% | $20.4M | $62.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1255 | +0.064% | $18.3M | $25.4M | 75x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1257 | +0.247% | $19.9M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1257 | +0.239% | $2.9M | $7.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1256 | +0.159% | $6.0M | $6.3M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1256 | +0.144% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1257 | +0.255% | $124K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1261 | +0.559% | $11K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1261 | +0.558% | $312K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | +0.558% | $45K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1257 | +0.271% | $168 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1260 | +0.455% | $174K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1256 | +0.140% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1257 | +0.273% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1259 | +0.382% | $778K | $732K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1260 | +0.447% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1256 | +0.140% | $698 | — | 20x | as long as short |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
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
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP