OP

Alert

Funding spread now, next payment 18:00 UTC−0.0611%/8h

next payment, per $10,000−$0.76paid, last 24h−0.105%paid, last 5 days−0.227%to open and close $10k−$81

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.227% in total (about -17.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.76 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	Kraken Futures PF_OPUSD	0.1255	0.0611	pay 0.0076% / 1h	55m 18s	$779K	$676K	20x
Short	Deribit OP_USDC-PERPETUAL	0.1254	0	get 0.0000% / 1h	55m 18s	$47K	$200K	25x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee DeribitbpOrdersRate

Funding earned: −$128.23
Slippage, 4 orders: −$63.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$209.02
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 49 min ago; Deribit: live order book, 30 min ago.

Price risk

price view

Price gap now: −0.112%
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, 49 min ago	11.83 bp	32.6 bp −$33	102.1 bp −$1,021	doesn't fit	doesn't fit
Sell Deribit live order book, 30 min ago	7.90 bp	11.4 bp −$11	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
GMX OP/USD [OP-USDC]	L −0.1436% / S +0.0290%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	$21K	$78K	50x	as long as short
Bybit OPUSDT	−0.0198%	8h	$17.9M	$26.6M	75x	as long as short
Variational Omni OP	−0.0132%	8h	$232K	$42K	—	as long as short
Orderly PERP_OP_USDC	−0.0070%	8h	$7K	$53K	10x	as long as short
Extended OP-USD	−0.0008%	1h	$100K	$205K	25x	as long as short
Binance OPUSDT	−0.0006%	8h	$20.5M	$67.0M	75x	as long as short
MEXC OP_USDT	−0.0004%	8h	$19.9M	$8.1M	300x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short
Deribit OP_USDC-PERPETUALshort	0.0000%	1h	$47K	$200K	25x

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
OKX OP-USDT-SWAP	+0.0015%	8h	$5.9M	$32.4M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$134K	12x	as long as short
Aevo OP-PERP	+0.0080%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$281K	$871K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$211K	$469K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.4M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$133K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$10K	$378K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$178K	$264K	50x	as long as short
BloFin OP-USDT	+0.0114%	8h	$1.0M	$576K	75x	as long as short
Reya OPRUSDPERP	+0.0432%	1h	$697	—	20x	as long as short
Kraken Futures PF_OPUSDlong	+0.0611%	1h	$779K	$676K	20x