OP

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After costs, if the gap returns to its 7d average, $10k−$77

spread now−0.332%7d average−0.054%fees + slippage, in and out−$49spread needed0.494%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack OP_USDC_PERP	0.1240	0.0100	pay 0.0013% / 1h	7m 05s	$127K	$196K	10x
Short	edgeX OPUSDC	0.1236	0.0100	get 0.0050% / 4h	1h 07m	$9K	$380K	10x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

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

Position, each leg$Hold forhoursFee BackpackbpFee edgeXbpOrdersClose when spread is

Slippage from Backpack: live order book, 28 min ago; edgeX: live order book, 28 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 28 min ago	0.40 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 28 min ago	4.04 bp	14.6 bp −$15	133.5 bp −$1,335	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International OP-PERP-INTX	−0.846%	−0.0336%	1h	$21K	$66K	50x	as long as short
Variational Omni OP	−0.428%	−0.0081%	8h	$225K	$43K	—	as long as short
Injective OP/USDC PERP	−0.363%	−0.1842%	1h	$34K	$86K	12x	as long as short
edgeX OPUSDCshort	−0.332%	+0.0100%	4h	$9K	$380K	10x
ApeX Omni OPUSDT	−0.121%	+0.0100%	1h	$44K	$720K	50x	as long as short
Bybit OPUSDT	−0.073%	+0.0099%	8h	$18.1M	$26.5M	75x	as long as short
BingX OP-USDC	−0.040%	+0.0100%	8h	—	$1.6M	—	as long as short
Binance OPUSDT	−0.032%	+0.0100%	8h	$19.6M	$64.8M	75x	as long as short
OKX OP-USDT-SWAP	−0.024%	+0.0052%	8h	$5.7M	$30.2M	50x	as long as short
BloFin OP-USDT	−0.016%	+0.0220%	8h	$976K	$304K	75x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Backpack OP_USDC_PERPlong	0.000%	+0.0100%	1h	$127K	$196K	10x
SoDEX OP-USD	0.000%	+0.0100%	1h	$183	$6K	5x	as long as short
Extended OP-USD	+0.009%	+0.0104%	1h	$99K	$206K	25x	as long as short
MEXC OP_USDT	+0.040%	+0.0100%	8h	$19.5M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.040%	+0.0100%	8h	$3.0M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.040%	+0.0100%	8h	$6.0M	$6.2M	75x	as long as short
Orderly PERP_OP_USDC	+0.040%	−0.0029%	8h	$6K	$53K	10x	as long as short
Deribit OP_USDC-PERPETUAL	+0.040%	0.0000%	1h	$43K	$185K	25x	as long as short
Reya OPRUSDPERP	+0.057%	+0.0434%	1h	$690	—	20x	as long as short
Lighter OP	+0.064%	+0.0096%	1h	$268K	$907K	15x	as long as short
HTX OP-USDT	+0.064%	+0.0100%	8h	$177K	$258K	50x	as long as short
Gate OP_USDT	+0.073%	+0.0083%	8h	$1.8M	$1.5M	50x	as long as short
GMX OP/USD [OP-USDC]	+0.084%	L −0.1162% / S +0.0245%	1h	$13K	—	100x	as long as short
Hyperliquid OP	+0.089%	+0.0100%	1h	$3.8M	$3.1M	5x	as long as short
Kraken Futures PF_OPUSD	+0.111%	+0.0543%	1h	$771K	$770K	20x	as long as short
Aster OPUSDT	+0.113%	+0.0100%	8h	$213K	$266K	10x	as long as short
Aevo OP-PERP	+0.114%	+0.0104%	1h	$4K	—	3x	as long as short
gTrade (Gains Network) OP/USD	+0.119%	L +0.0004% / S −0.0004%	1h	—	—	150x	as long as short
dYdX OP-USD	+0.124%	0.0000%	1h	$38K	$437	10x	as long as short