OP

Alert

Funding spread now, next payment 00:00 UTC+0.0048%/8h

next payment, per $10,000+$0.48paid, last 24h−0.010%paid, last 3 days+0.018%to open and closeno order book

Long on Variational Omni Short on Orderly

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni OP	0.1261	−0.0122	get 0.0122% / 8h	7h 20m	$233K	$43K	—
Short	Orderly PERP_OP_USDC	0.1258	−0.0074	pay 0.0074% / 8h	7h 20m	$6K	$53K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee OrderlybpOrdersRate

Funding earned: $10.12
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $4.12
Break-even: 4.2 days

Slippage unknown: Variational Omni: RFQ quote, 25 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.277%
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 Variational Omni RFQ quote, 25 min ago	3.97 bp	doesn't fit	43.6 bp −$436	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 −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Bybit OPUSDT	−0.0361%	8h	$17.8M	$27.5M	75x	as long as short
Coinbase International OP-PERP-INTX	−0.0304%	1h	$22K	$85K	50x	as long as short
Variational Omni OPlong	−0.0122%	8h	$233K	$43K	—
Orderly PERP_OP_USDCshort	−0.0074%	8h	$6K	$53K	10x
Extended OP-USD	−0.0024%	1h	$101K	$208K	25x	as long as short
Binance OPUSDT	−0.0020%	8h	$20.6M	$68.7M	75x	as long as short
MEXC OP_USDT	−0.0020%	8h	$20.1M	$8.8M	300x	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
OKX OP-USDT-SWAP	+0.0026%	8h	$6.0M	$33.0M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$184K	12x	as long as short
Aevo OP-PERP	+0.0080%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$281K	$900K	15x	as long as short
BloFin OP-USDT	+0.0100%	8h	$1.0M	$581K	75x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.3M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$212K	$465K	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	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$136K	$187K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$378K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$712K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	$183	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	$179K	$270K	50x	as long as short
Reya OPRUSDPERP	+0.0432%	1h	$699	—	20x	as long as short
Kraken Futures PF_OPUSD	+0.0473%	1h	$782K	$678K	20x	as long as short