OP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h −0.166%

Price spread now: Coinbase International against Kraken Futures−0.209%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.334%−$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Coinbase International is 0.209% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.209% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 11 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.334%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_OPUSD	0.1254	−0.0034	get 0.0004% / 1h	22m 58s	$754K	$665K	20x
Short	Coinbase International OP-PERP-INTX	0.1251	0.0032	get 0.0004% / 1h	22m 58s	$24K	$64K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now −0.209%Rate

Funding earned: $13.85
Price spread: −0.209% → 0.000%: −$20.94
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$27.09
Costs to cover: 0.200%
Break-even: 20.7 days

Slippage unknown: Kraken Futures: live order book, 20 min ago; Coinbase International: 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 Kraken Futures live order book, 20 min ago	9.88 bp	22.3 bp −$22	157.2 bp −$1,572	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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 PERP	−0.1760%	1h	0.1247	−0.528%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0898% / S +0.0202%	1h	0.1251	−0.177%	$13K	—	100x	as long as short
Orderly PERP_OP_USDC	−0.0054%	8h	0.1250	−0.289%	$59K	$177K	10x	as long as short
Kraken Futures PF_OPUSDlong	−0.0034%	1h	0.1254	long leg	$754K	$665K	20x
Variational Omni OP	−0.0006%	8h	0.1255	+0.136%	$222K	$46K	—	as long as short
dYdX OP-USD	0.0000%	1h	0.1253	−0.068%	$39K	$522	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1251	−0.209%	$32K	$154K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1252	−0.153%	—	—	150x	as long as short
Coinbase International OP-PERP-INTXshort	+0.0032%	1h	0.1251	−0.209%	$24K	$64K	50x
KuCoin OPUSDTM	+0.0069%	8h	0.1252	−0.130%	$2.8M	$6.3M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit OPUSDT	+0.0070%	8h	0.1252	−0.169%	$18.4M	$26.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0083%	8h	0.1253	−0.074%	$6.1M	$29.6M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1252	−0.122%	$275K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1252	−0.154%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1252	−0.090%	$206K	$211K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1252	−0.114%	$19.7M	$67.1M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1252	−0.161%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1251	−0.193%	$22.4M	$8.0M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1252	−0.130%	$5.7M	$6.8M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1252	−0.169%	—	$6.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1251	−0.241%	$114K	$220K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1250	−0.298%	$379K	$765K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1250	−0.260%	$304K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1250	−0.289%	$43K	$700K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1251	−0.177%	$204	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1251	−0.217%	$169K	$252K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1252	−0.104%	$102K	$510K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1251	−0.201%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1251	−0.241%	$995K	$324K	75x	as long as short
Reya OPRUSDPERP	+0.0443%	1h	0.1251	−0.224%	$696	—	20x	as long as short