Funding you earn now, next payment 03:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h +0.034%
Price spread now: Backpack against Variational Omni+0.039%7-day average +0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.230%+$23 on $10k
+Price spread, last 4 days (all we have)−0.268%−$27 · spread now +0.039%, 7d avg +0.040%
=Together, before fees−0.038%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni OP | 0.1263 | 0.0047 | pay 0.0047% / 8h | 5h 39m | $223K | $50K | — |
| Short | Backpack OP_USDC_PERP | 0.1263 | 0.0100 | get 0.0013% / 1h | 39m 57s | $121K | $195K | 10x |
Variational Omni OP
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Variational Omni. 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
- $11.09
- Price spread: +0.039% → +0.040%
- −$0.05
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $1.04
- Costs to cover
- 0.100%
- Break-even
- 6.3 days
Slippage unknown: Variational Omni: RFQ quote, 24 min ago; Backpack: live order book, 23 min ago. Net counts fees only.
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 Variational Omni RFQ quote, 24 min ago | 7.92 bp | doesn't fit | 31.7 bp −$317 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 23 min ago | 1.58 bp | 10.8 bp −$11 | doesn't fit | 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 | −0.1488% | 1h | 0.1257 | −0.452% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1263 | +0.044% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | +0.083% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1264 | +0.103% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | +0.087% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0031% | 8h | 0.1263 | +0.039% | $6.1M | $29.1M | 50x | as long as short |
| Variational Omni OPlong | +0.0047% | 8h | 0.1263 | long leg | $223K | $50K | — | |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1264 | +0.103% | $6K | $45K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1265 | +0.150% | $280K | $934K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1265 | +0.158% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1264 | +0.109% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1263 | +0.063% | $20.4M | $60.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | +0.008% | $18.4M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | +0.079% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | +0.071% | $20.7M | $6.9M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1262 | −0.056% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | +0.023% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1263 | +0.023% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1263 | +0.039% | $121K | $195K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | +0.154% | $4K | $388K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1267 | +0.353% | $312K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1264 | +0.103% | $43K | $707K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1263 | +0.039% | $176 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | +0.071% | $174K | $218K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | +0.016% | $101K | $389K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1264 | +0.082% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | +0.182% | $24K | $71K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1263 | −0.016% | $1.0M | $271K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1263 | +0.027% | $702 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0491% | 1h | 0.1264 | +0.137% | $798K | $581K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP
Kraken Futures PF_OPUSD