OP

Alert

Funding spread now, next payment 16:00 UTC−0.0414%/8h

paid, last 24h−0.096%paid, last 3 days−0.214%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya OPRUSDPERP	0.1267	0.0431	pay 0.0054% / 1h	43m 18s	$705	—	20x
Short	Bybit OPUSDT	0.1265	0.0017	get 0.0017% / 8h	43m 18s	$17.8M	$27.5M	75x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee BybitbpOrdersRate

Funding earned: −$86.96
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$103.96
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.136%
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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.39 bp	11.4 bp −$11	25.9 bp −$259	74.3 bp −$7,435	doesn't fit

Reya: 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 −0.1469% / S +0.0291%	1h	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0539%	1h	$47K	$200K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0296%	1h	$27K	$85K	50x	as long as short
Binance OPUSDT	−0.0129%	8h	$20.8M	$66.3M	75x	as long as short
Extended OP-USD	−0.0128%	1h	$101K	$214K	25x	as long as short
MEXC OP_USDT	−0.0128%	8h	$20.4M	$8.6M	300x	as long as short
Orderly PERP_OP_USDC	−0.0078%	8h	$7K	$53K	10x	as long as short
Variational Omni OP	−0.0066%	8h	$235K	$45K	—	as long as short
BloFin OP-USDT	−0.0009%	8h	$1.0M	$580K	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
gTrade (Gains Network) OP/USD	L +0.0005% / S −0.0004%	1h	$1K	—	150x	as long as short
Bybit OPUSDTshort	+0.0017%	8h	$17.8M	$27.5M	75x
OKX OP-USDT-SWAP	+0.0037%	8h	$6.1M	$32.7M	50x	as long as short
Aevo OP-PERP	+0.0048%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$296K	$829K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$4.0M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$200K	$453K	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	$2.8M	$7.0M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$5.9M	$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	$133K	$168K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$380K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$46K	$716K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$181	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$190K	$251K	50x	as long as short
Kraken Futures PF_OPUSD	+0.0242%	1h	$780K	$659K	20x	as long as short
Injective OP/USDC PERP	+0.0248%	1h	$25K	$184K	12x	as long as short
Reya OPRUSDPERPlong	+0.0431%	1h	$705	—	20x