OP

Alert

Funding spread now, next payment 19:00 UTC+0.0447%/8h

next payment, per $10,000+$0.56paid, last 24h+0.035%paid, last 7 days0.000%to open and close $10k−$97

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 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	Lighter OP	0.1240	0.0096	pay 0.0012% / 1h	0m 36s	$267K	$907K	15x
Short	Kraken Futures PF_OPUSD	0.1241	0.0543	get 0.0068% / 1h	0m 36s	$771K	$770K	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee Kraken FuturesbpOrdersRate

Funding earned: $93.82
Slippage, 4 orders: −$86.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$2.72
Break-even: 7.2 days

Slippage from Lighter: live order book, 27 min ago; Kraken Futures: live order book, 34 min ago.

Price risk

price view

Price gap now: +0.108%
Avg gap 7d: +0.050%

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, 27 min ago	5.67 bp	14.3 bp −$14	37.8 bp −$378	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 34 min ago	15.75 bp	35.4 bp −$35	158.7 bp −$1,587	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
Injective OP/USDC PERP	−0.1842%	1h	$34K	$86K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0887% / S +0.0200%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0336%	1h	$21K	$66K	50x	as long as short
Variational Omni OP	−0.0075%	8h	$226K	$43K	—	as long as short
Orderly PERP_OP_USDC	−0.0028%	8h	$6K	$53K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$437	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$43K	$185K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0048%	8h	$5.7M	$30.1M	50x	as long as short
Gate OP_USDT	+0.0074%	8h	$1.8M	$1.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter OPlong	+0.0096%	1h	$267K	$907K	15x
Bybit OPUSDT	+0.0099%	8h	$18.0M	$26.4M	75x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.8M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$210K	$266K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	$19.6M	$64.5M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	$19.6M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$3.0M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.2M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$128K	$197K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$381K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$44K	$719K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$179	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$176K	$258K	50x	as long as short
Extended OP-USD	+0.0104%	1h	$99K	$206K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	$975K	$304K	75x	as long as short
Reya OPRUSDPERP	+0.0434%	1h	$689	—	20x	as long as short
Kraken Futures PF_OPUSDshort	+0.0543%	1h	$771K	$770K	20x