Funding you earn now, next payment 00:00 UTC−0.0357%/8h= −39.1% APRnext payment −$0.45 per $10,000 · paid last 24h −0.096%
Price spread now: dYdX against Kraken Futures−0.022%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and dYdX is 0.022% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_OPUSD | 0.1281 | 0.0357 | pay 0.0045% / 1h | 38m 10s | $801K | $745K | 20x |
| Short | dYdX OP-USD | 0.1281 | 0 | get 0.0000% / 1h | 38m 10s | $40K | $519 | 10x |
Kraken Futures PF_OPUSD
dYdX OP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$74.94
- Price spread: −0.022% → 0.000%
- −$2.21
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$97.15
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 40 min ago; dYdX: 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, 40 min ago | 8.20 bp | 33.6 bp −$34 | 121.0 bp −$1,210 | doesn't fit | doesn't fit |
| Sell dYdX no order-book sample | — | — | — | — | — |
dYdX: 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 | −0.1633% | 1h | 0.1274 | −0.545% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1280 | −0.104% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0344% | 1h | 0.1276 | −0.389% | $21K | $65K | 50x | as long as short |
| dYdX OP-USDshort | 0.0000% | 1h | 0.1281 | −0.022% | $40K | $519 | 10x | |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1280 | −0.077% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1280 | −0.062% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0063% | 8h | 0.1279 | −0.155% | $6K | $50K | 10x | as long as short |
| Variational Omni OP | +0.0072% | 8h | 0.1280 | −0.058% | $234K | $54K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1281 | −0.022% | $291K | $922K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1281 | −0.006% | $4.1M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1280 | −0.057% | $214K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1279 | −0.122% | $20.7M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1279 | −0.178% | $18.6M | $25.8M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1279 | −0.139% | $6.1M | $30.4M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1280 | −0.116% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1279 | −0.124% | $20.3M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1279 | −0.155% | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1280 | −0.077% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1280 | −0.077% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1279 | −0.131% | $125K | $188K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1280 | −0.049% | $9K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1282 | +0.088% | $320K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1281 | +0.001% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1279 | −0.139% | $202 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1280 | −0.077% | $177K | $236K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1279 | −0.168% | $103K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1279 | −0.135% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1280 | −0.038% | $1.0M | $292K | 75x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0357% | 1h | 0.1281 | long leg | $801K | $745K | 20x | |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1280 | −0.099% | $712 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
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
BloFin OP-USDT
Reya OPRUSDPERP