OP

Alert

Funding spread now, next payment 18:00 UTC+0.0229%/8h

paid, last 24h+0.033%paid, last 3 days+0.044%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.044% in total (about 5.5% 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	0.1242	−0.0129	get 0.0129% / 8h	6h 14m	$227K	$40K	—
Short	SoDEX OP-USD	0.1242	0.0100	get 0.0013% / 1h	14m 43s	$186	$6K	5x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee SoDEXbpOrdersRate

Funding earned: $48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $40
Break-even: 1.2 days

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; SoDEX: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.021%
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, 26 min ago	8.06 bp	doesn't fit	24.2 bp −$242	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 −0.1711% / S +0.0335%	1h	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	$21K	$71K	50x	as long as short
Variational Omni OPlong	−0.0129%	8h	$227K	$40K	—
Bybit OPUSDT	−0.0093%	8h	$17.5M	$25.5M	75x	as long as short
Orderly PERP_OP_USDC	−0.0060%	8h	$6K	$54K	10x	as long as short
dYdX OP-USD	0.0000%	1h	$38K	$10	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0015%	8h	$5.8M	$30.5M	50x	as long as short
Injective OP/USDC PERP	+0.0033%	1h	$25K	$134K	12x	as long as short
Gate OP_USDT	+0.0036%	8h	$1.8M	$1.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Extended OP-USD	+0.0040%	1h	$99K	$206K	25x	as long as short
MEXC OP_USDT	+0.0041%	8h	$19.9M	$8.3M	300x	as long as short
Binance OPUSDT	+0.0045%	8h	$20.2M	$64.3M	75x	as long as short
Aevo OP-PERP	+0.0088%	1h	$4K	—	3x	as long as short
Lighter OP	+0.0096%	1h	$266K	$917K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	$3.9M	$3.2M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	$202K	$254K	10x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	$5.8M	$5.9M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	—	$7.0M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	$127K	$199K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	$9K	$382K	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	$45K	$719K	50x	as long as short
SoDEX OP-USDshort	+0.0100%	1h	$186	$6K	5x
HTX OP-USDT	+0.0100%	8h	$176K	$265K	50x	as long as short
BloFin OP-USDT	+0.0162%	8h	$1.0M	$338K	75x	as long as short
Reya OPRUSDPERP	+0.0433%	1h	$691	—	20x	as long as short
Deribit OP_USDC-PERPETUAL	+0.0555%	1h	$44K	$202K	25x	as long as short
Kraken Futures PF_OPUSD	+0.0616%	1h	$771K	$674K	20x	as long as short