Funding you earn now, next payment 08:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h −0.078%
Price spread now: OKX against Kraken Futures+0.004%7-day average −0.112% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$730.731% of the position
Funding, last 7 days−0.099%−$10 on $10k
+Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.004%, 7d avg −0.112%
=The price spread pays, funding is against you. OKX is 0.116% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.004% now, against its 7-day average of −0.112%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_OPUSD | 0.1250 | 0.0165 | pay 0.0021% / 1h | 51m 45s | $748K | $668K | 20x |
| Short | OKX OP-USDT-SWAP | 0.1250 | 0.0100 | get 0.0100% / 8h | 51m 45s | $6.0M | $29.4M | 50x |
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$13.62
- Price spread: +0.004% → −0.112%
- $11.62
- Slippage, 4 orders
- −$53.1
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$75.1
- Costs to cover
- 0.731%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 51 min ago; OKX: live order book, 2 min ago.
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, 51 min ago | 9.88 bp | 22.3 bp −$22 | 157.2 bp −$1,572 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.40 bp | 11.4 bp −$11 | 28.4 bp −$284 | doesn't fit | doesn't fit |
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 | −0.1660% | 1h | 0.1243 | −0.524% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.0898% / S +0.0202% | 1h | 0.1248 | −0.085% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0054% | 8h | 0.1248 | −0.124% | $12K | $235K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1248 | −0.116% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1249 | −0.044% | $32K | $154K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1249 | −0.056% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0026% | 8h | 0.1245 | −0.342% | $220K | $47K | — | as long as short |
| KuCoin OPUSDTM | +0.0055% | 8h | 0.1249 | −0.044% | $2.8M | $6.2M | 75x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0080% | 1h | 0.1248 | −0.124% | $24K | $65K | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1251 | +0.100% | $289K | $1.1M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
KuCoin OPUSDTM
Coinbase International OP-PERP-INTX
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1251 | +0.140% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1250 | +0.067% | $205K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1250 | +0.050% | $19.8M | $67.1M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1249 | −0.052% | $18.3M | $26.1M | 75x | as long as short |
| OKX OP-USDT-SWAPshort | +0.0100% | 8h | 0.1250 | +0.004% | $6.0M | $29.4M | 50x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1251 | +0.116% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1251 | +0.100% | $22.3M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1250 | +0.036% | $5.7M | $6.9M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1250 | +0.036% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1249 | −0.028% | $115K | $220K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1247 | −0.214% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1249 | −0.044% | $305K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1246 | −0.284% | $43K | $698K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1249 | −0.060% | $200 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1249 | −0.052% | $166K | $260K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1250 | +0.074% | $101K | $573K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1249 | −0.061% | $3K | $1K | 3x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0165% | 1h | 0.1250 | long leg | $748K | $668K | 20x | |
| BloFin OP-USDT | +0.0220% | 8h | 0.1247 | −0.204% | $999K | $322K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0444% | 1h | 0.1248 | −0.094% | $694 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDT
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