OP

Alert

Funding spread now, next payment 18:00 UTC−0.0519%/8h

paid, last 24h−0.022%paid, last 7 days+0.028%to open and close $10k−$271

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.5% 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	0.1238	0.0619	pay 0.0077% / 1h	7m 52s	$767K	$671K	20x
Short	BingX OP-USDC	0.1236	0.0100	get 0.0100% / 8h	6h 07m	—	$1.6M	—

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BingXbpOrdersRate

Funding earned: −$109.04
Slippage, 4 orders: −$251.34
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$380.38
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 32 min ago; BingX: live order book, 16 min ago.

Price risk

price view

Price gap now: −0.158%
Avg gap 7d: −0.098%

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, 32 min ago	9.25 bp	27.7 bp −$28	101.5 bp −$1,015	doesn't fit	doesn't fit
Sell BingX live order book, 16 min ago	8.06 bp	115.7 bp −$116	876.6 bp −$8,766	1120.4 bp −$112.0K	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 −0.1711% / S +0.0335%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	$21K	$69K	50x	as long as short
Variational Omni OP	−0.0130%	8h	$226K	$40K	—	as long as short
Bybit OPUSDT	−0.0102%	8h	$17.4M	$25.4M	75x	as long as short
Orderly PERP_OP_USDC	−0.0057%	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	$203K	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	+0.0009%	8h	$5.7M	$30.4M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$134K	12x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate OP_USDT	+0.0035%	8h	$1.8M	$1.5M	50x	as long as short
Extended OP-USD	+0.0048%	1h	$99K	$206K	25x	as long as short
MEXC OP_USDT	+0.0048%	8h	$20.0M	$8.4M	300x	as long as short
Binance OPUSDT	+0.0049%	8h	$20.1M	$64.1M	75x	as long as short
Lighter OP	+0.0096%	1h	$265K	$917K	15x	as long as short
Aevo OP-PERP	+0.0096%	1h	$4K	—	3x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.8M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$199K	$255K	10x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$5.8M	$5.9M	75x	as long as short
BingX OP-USDCshort	+0.0100%	8h	—	$1.6M	—
Backpack OP_USDC_PERP	+0.0100%	1h	$126K	$200K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$718K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$189	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$175K	$261K	50x	as long as short
BloFin OP-USDT	+0.0169%	8h	$1.0M	$335K	75x	as long as short
Reya OPRUSDPERP	+0.0433%	1h	$687	—	20x	as long as short
Kraken Futures PF_OPUSDlong	+0.0619%	1h	$767K	$671K	20x