OP

Alert

Funding spread now, next payment 17:00 UTC+0.0549%/8h

paid, last 24h+0.044%paid, last 3 days+0.135%to open and closeno order book

Long on Variational Omni Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.135% in total (about 16.4% a year). A funding rate is set anew for every payment. 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	Variational Omni OP	0.1263	−0.0078	get 0.0078% / 8h	7h 52m	$232K	$46K	—
Short	Kraken Futures PF_OPUSD	0.1263	0.0471	get 0.0059% / 1h	52m 54s	$783K	$677K	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee Kraken FuturesbpOrdersRate

Funding earned: $115.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $105.35
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 58 min ago; Kraken Futures: live order book, 57 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.010%
Avg gap 7d: +0.142%

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 Variational Omni RFQ quote, 58 min ago	7.84 bp	doesn't fit	31.3 bp −$313	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 57 min ago	20.77 bp	34.6 bp −$35	87.4 bp −$874	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
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	$90K	50x	as long as short
Bybit OPUSDT	−0.0119%	8h	$17.8M	$28.0M	75x	as long as short
Variational Omni OPlong	−0.0078%	8h	$232K	$46K	—
Orderly PERP_OP_USDC	−0.0077%	8h	$6K	$54K	10x	as long as short
Binance OPUSDT	−0.0059%	8h	$21.0M	$69.3M	75x	as long as short
MEXC OP_USDT	−0.0059%	8h	$20.2M	$8.7M	300x	as long as short
Extended OP-USD	−0.0056%	1h	$101K	$212K	25x	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-SWAP	+0.0038%	8h	$6.0M	$33.3M	50x	as long as short
BloFin OP-USDT	+0.0061%	8h	$1.0M	$582K	75x	as long as short
Aevo OP-PERP	+0.0064%	1h	$4K	—	3x	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	$2.9M	$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	$181K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$8K	$379K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$714K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$187	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$181K	$275K	50x	as long as short
Reya OPRUSDPERP	+0.0431%	1h	$702	—	20x	as long as short
Kraken Futures PF_OPUSDshort	+0.0471%	1h	$783K	$677K	20x