Spread before costs (cost unknown: a leg has no order-book sample)+0.060%
7d average—if it closes, per $10,000$6funding while held, a day−$2.88
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack OP_USDC_PERP | 0.1257 | 0.0100 | pay 0.0013% / 1h | 10m 12s | $133K | $180K | 10x |
| Short | gTrade (Gains Network) OP/USD | 0.1258 | L +0.0004% / S −0.0004% | get 0.0000% / 1h | 10m 12s | $1K | — | 150x |
Backpack OP_USDC_PERP
gTrade (Gains Network) OP/USDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $6.04
- Funding while held
- −$2.88
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Net
- −$16.84
- Spread needed to break even
- 0.200%
Slippage unknown: Backpack: live order book, 39 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0096%
- Per $10,000 a day
- −$2.88
- Average in range /8h
- —
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 Backpack live order book, 39 min ago | 1.96 bp | 12.2 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell gTrade (Gains Network) no order-book sample | — | — | — | — | — |
gTrade (Gains Network): 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 price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International0.1248cheapestBybit0.1256+0.641%Variational Omni0.1256+0.665%Extended0.1256+0.672%OKX0.1257+0.697%ApeX Omni0.1257+0.721%SoDEX0.1257+0.737%Aevo0.1257+0.751%Reya0.1257+0.752%
Coinbase International
Bybit
Variational Omni
Extended
OKX
ApeX Omni
SoDEX
Aevo
ReyaBackpack0.1257+0.753%
HTX0.1257+0.753%Binance0.1257+0.755%MEXC0.1258+0.761%GMX0.1258+0.771%Lighter0.1258+0.777%edgeX0.1258+0.781%KuCoin0.1258+0.801%Bitget0.1258+0.801%BingX0.1258+0.801%Orderly0.1258+0.801%Deribit0.1258+0.801%Gate0.1258+0.809%
HTX
Binance
MEXC
GMX
Lighter
KuCoin
Bitget
BingX
Orderly
Deribit
GategTrade (Gains Network)0.1258+0.814%
Aster0.1258+0.833%Hyperliquid0.1258+0.833%Kraken Futures0.1258+0.840%dYdX0.1259+0.881%BloFin0.1260+1.002%Injective0.1276+2.244%
Aster
Hyperliquid
Kraken Futures
dYdX
BloFin
InjectiveOP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International OP-PERP-INTX | −0.748% | −0.0296% | 1h | $22K | $91K | 50x | as long as short |
| Bybit OPUSDT | −0.111% | +0.0028% | 8h | $17.7M | $28.2M | 75x | as long as short |
| Variational Omni OP | −0.088% | −0.0066% | 8h | $231K | $46K | — | as long as short |
| Extended OP-USD | −0.081% | −0.0088% | 1h | $101K | $213K | 25x | as long as short |
| OKX OP-USDT-SWAP | −0.056% | +0.0039% | 8h | $6.0M | $33.3M | 50x | as long as short |
| ApeX Omni OPUSDT | −0.032% | +0.0100% | 1h | $45K | $714K | 50x | as long as short |
| SoDEX OP-USD | −0.016% | +0.0100% | 1h | $179 | $5K | 5x | as long as short |
| Aevo OP-PERP | −0.002% | +0.0056% | 1h | $4K | — | 3x | as long as short |
| Reya OPRUSDPERP | −0.001% | +0.0431% | 1h | $699 | — | 20x | as long as short |
| Backpack OP_USDC_PERPlong | 0.000% | +0.0100% | 1h | $133K | $180K | 10x |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| HTX OP-USDT | 0.000% | +0.0100% | 8h | $180K | $277K | 50x | as long as short |
| Binance OPUSDT | +0.002% | −0.0091% | 8h | $20.9M | $69.2M | 75x | as long as short |
| MEXC OP_USDT | +0.008% | −0.0093% | 8h | $20.0M | $8.8M | 300x | as long as short |
| GMX OP/USD [OP-USDC] | +0.017% | L −0.1440% / S +0.0291% | 1h | $13K | — | 100x | as long as short |
| Lighter OP | +0.024% | +0.0096% | 1h | $294K | $836K | 15x | as long as short |
| edgeX OPUSDC | +0.027% | +0.0100% | 4h | $10K | $376K | 10x | as long as short |
| KuCoin OPUSDTM | +0.048% | +0.0100% | 8h | $2.8M | $7.3M | 75x | as long as short |
| Bitget OPUSDT | +0.048% | +0.0100% | 8h | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.048% | +0.0100% | 8h | — | $1.6M | — | as long as short |
| Orderly PERP_OP_USDC | +0.048% | −0.0077% | 8h | $7K | $54K | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.048% | 0.0000% | 1h | $47K | $200K | 25x | as long as short |
| Gate OP_USDT | +0.056% | +0.0100% | 8h | $1.8M | $1.8M | 50x | as long as short |
| gTrade (Gains Network) OP/USDshort | +0.060% | L +0.0004% / S −0.0004% | 1h | $1K | — | 150x | |
| Aster OPUSDT | +0.079% | +0.0100% | 8h | $212K | $469K | 10x | as long as short |
| Hyperliquid OP | +0.080% | +0.0100% | 1h | $3.9M | $3.3M | 5x | as long as short |
| Kraken Futures PF_OPUSD | +0.086% | +0.0243% | 1h | $780K | $672K | 20x | as long as short |
| dYdX OP-USD | +0.127% | 0.0000% | 1h | $39K | $10 | 10x | as long as short |
| BloFin OP-USDT | +0.247% | +0.0027% | 8h | $1.1M | $584K | 75x | as long as short |
| Injective OP/USDC PERP | +1.479% | +0.0248% | 1h | $25K | $184K | 12x | as long as short |