OP

Alert

Funding spread now, next payment 14:00 UTC−0.0424%/8h

next payment, per $10,000−$0.53paid, last 24h−0.123%paid, last 5 days−0.207%to open and closeno order book

Long on Lighter Short on Coinbase International

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OP	0.1269	0.0096	pay 0.0012% / 1h	45m 48s	$364K	$745K	15x
Short	Coinbase International OP-PERP-INTX	0.1263	−0.0328	pay 0.0041% / 1h	45m 48s	$27K	$84K	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee Coinbase InternationalbpOrdersRate

Funding earned: −$89.04
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$99.04
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 65 min ago; Coinbase International: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.496%
Avg gap 7d: —

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 Lighter live order book, 65 min ago	5.35 bp	8.1 bp −$8	38.9 bp −$389	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 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
GMX OP/USD [OP-USDC]	L −0.1208% / S +0.0249%	1h	$13K	—	100x	as long as short
ApeX Omni OPUSDT	−0.0487%	1h	$45K	$704K	50x	as long as short
Coinbase International OP-PERP-INTXshort	−0.0328%	1h	$27K	$84K	50x
Binance OPUSDT	−0.0154%	8h	$20.5M	$64.9M	75x	as long as short
Extended OP-USD	−0.0152%	1h	$101K	$214K	25x	as long as short
MEXC OP_USDT	−0.0152%	8h	$19.8M	$8.7M	300x	as long as short
Orderly PERP_OP_USDC	−0.0074%	8h	$6K	$53K	10x	as long as short
Variational Omni OP	−0.0060%	8h	$234K	$44K	—	as long as short
BloFin OP-USDT	−0.0032%	8h	$1.0M	$577K	75x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$48K	$220K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0001%	1h	$2K	—	150x	as long as short
Bybit OPUSDT	+0.0016%	8h	$17.8M	$27.1M	75x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$185K	12x	as long as short
Aevo OP-PERP	+0.0040%	1h	$4K	—	3x	as long as short
OKX OP-USDT-SWAP	+0.0071%	8h	$6.0M	$32.2M	50x	as long as short
SoDEX OP-USD	+0.0078%	1h	$165	$5K	5x	as long as short
Lighter OPlong	+0.0096%	1h	$364K	$745K	15x
Hyperliquid OP	+0.0100%	1h	$4.0M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$200K	$434K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.7M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$5.9M	$6.1M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$132K	$166K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$4K	$409K	10x	as long as short
HTX OP-USDT	+0.0100%	8h	$191K	$233K	50x	as long as short
Kraken Futures PF_OPUSD	+0.0143%	1h	$782K	$662K	20x	as long as short
Reya OPRUSDPERP	+0.0430%	1h	$704	—	20x	as long as short