OP

Alert

Funding spread now, next payment 17:00 UTC−0.0517%/8h

paid, last 24h−0.050%paid, last 7 days−0.042%to open and close $10k−$86

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.042% in total (about -2.2% 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	Kraken Futures PF_OPUSD	0.1263	0.0471	pay 0.0059% / 1h	46m 11s	$784K	$683K	20x
Short	Binance OPUSDT	0.1262	−0.0046	pay 0.0046% / 8h	7h 46m	$20.8M	$69.2M	75x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BinancebpOrdersRate

Funding earned: −$108.63
Slippage, 4 orders: −$66.05
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$194.68
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 63 min ago; Binance: live order book, 13 min ago.

Price risk

price view

Price gap now: −0.152%
Avg gap 7d: −0.080%

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 Kraken Futures live order book, 63 min ago	20.77 bp	28.8 bp −$29	98.7 bp −$987	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.19 bp	11.8 bp −$12	26.6 bp −$266	103.1 bp −$10.3K	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 −0.1440% / S +0.0291%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0304%	1h	$22K	$91K	50x	as long as short
Bybit OPUSDT	−0.0179%	8h	$17.8M	$28.0M	75x	as long as short
Variational Omni OP	−0.0086%	8h	$232K	$46K	—	as long as short
Orderly PERP_OP_USDC	−0.0075%	8h	$7K	$54K	10x	as long as short
Extended OP-USD	−0.0048%	1h	$101K	$212K	25x	as long as short
MEXC OP_USDT	−0.0048%	8h	$20.2M	$8.7M	300x	as long as short
Binance OPUSDTshort	−0.0046%	8h	$20.8M	$69.2M	75x
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$47K	$200K	25x	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	+0.0039%	8h	$6.0M	$33.4M	50x	as long as short
BloFin OP-USDT	+0.0072%	8h	$1.0M	$582K	75x	as long as short
Aevo OP-PERP	+0.0072%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$283K	$829K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$213K	$470K	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-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$137K	$183K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$8K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$714K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$189	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$181K	$271K	50x	as long as short
Reya OPRUSDPERP	+0.0431%	1h	$702	—	20x	as long as short
Kraken Futures PF_OPUSDlong	+0.0471%	1h	$784K	$683K	20x