OP

Alert

Funding spread now, next payment 00:00 UTC−0.0115%/8h

next payment, per $10,000−$1.15paid, last 24h+0.009%paid, last 5 days−0.054%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OP-USDT-SWAP	0.1265	0.0039	pay 0.0039% / 8h	7h 48m	$6.0M	$33.5M	50x
Short	Orderly PERP_OP_USDC	0.1264	−0.0076	pay 0.0076% / 8h	7h 48m	$6K	$54K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee OrderlybpOrdersRate

Funding earned: −$24.08
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$40.08
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.103%
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 OKX live order book, 1 min ago	0.40 bp	12.9 bp −$13	26.2 bp −$262	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.1440% / S +0.0291%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0304%	1h	$22K	$91K	50x	as long as short
Variational Omni OP	−0.0086%	8h	$232K	$46K	—	as long as short
Orderly PERP_OP_USDCshort	−0.0076%	8h	$6K	$54K	10x
MEXC OP_USDT	−0.0050%	8h	$20.2M	$8.7M	300x	as long as short
Binance OPUSDT	−0.0048%	8h	$20.9M	$69.3M	75x	as long as short
Extended OP-USD	−0.0048%	1h	$101K	$212K	25x	as long as short
Bybit OPUSDT	−0.0047%	8h	$17.9M	$28.0M	75x	as long as short
dYdX OP-USD	0.0000%	1h	$39K	$10	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	$47K	$200K	25x	as long as short

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
Injective OP/USDC PERP	+0.0033%	1h	$25K	$184K	12x	as long as short
OKX OP-USDT-SWAPlong	+0.0039%	8h	$6.0M	$33.5M	50x
Aevo OP-PERP	+0.0064%	1h	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0069%	8h	$1.0M	$582K	75x	as long as short
Lighter OP	+0.0096%	1h	$283K	$827K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$214K	$470K	10x	as long as short
Gate OP_USDT	+0.0100%	8h	$1.8M	$1.6M	50x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.8M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$6.0M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$138K	$183K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$8K	$379K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$713K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$190	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$181K	$271K	50x	as long as short
Reya OPRUSDPERP	+0.0431%	1h	$703	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0471%	1h	$785K	$683K	20x	as long as short