After costs, if the gap returns to its 7d average, $10k−$41
spread now+0.016%7d average+0.026%fees + slippage, in and out−$40spread needed0.398%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack OP_USDC_PERP | 0.1269 | 0.0100 | pay 0.0013% / 1h | 28m 55s | $137K | $189K | 10x |
| Short | Lighter OP | 0.1269 | 0.0096 | get 0.0012% / 1h | 28m 55s | $284K | $863K | 15x |
Backpack OP_USDC_PERP
Lighter OPPrice 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
- $1.58
- Funding while held
- −$0.12
- Slippage, 4 orders
- −$29.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$38.34
- Spread needed to break even
- 0.398%
Slippage from Backpack: live order book, 16 min ago; Lighter: live order book, 8 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0004%
- Per $10,000 a day
- −$0.12
- 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, 16 min ago | 1.97 bp | 11.8 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 4.72 bp | 9.7 bp −$10 | 35.2 bp −$352 | doesn't fit | doesn't fit |
OP price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International0.1263cheapestBybit0.1267+0.317%Variational Omni0.1267+0.326%HTX0.1267+0.333%Reya0.1268+0.379%BloFin0.1268+0.388%KuCoin0.1268+0.396%Bitget0.1268+0.396%Orderly0.1268+0.396%Aevo0.1268+0.396%dYdX0.1268+0.397%BingX0.1268+0.404%OKX0.1268+0.412%Gate0.1268+0.420%MEXC0.1268+0.420%Binance0.1268+0.428%SoDEX0.1268+0.428%Extended0.1269+0.441%Aster0.1269+0.445%
Coinbase International
Bybit
Variational Omni
HTX
Reya
BloFin
KuCoin
Bitget
Orderly
Aevo
dYdX
BingX
OKX
Gate
MEXC
Binance
SoDEX
Extended
AsterBackpack0.1269+0.459%
GMX0.1269+0.459%
GMXLighter0.1269+0.475%
gTrade (Gains Network)0.1269+0.475%Deribit0.1269+0.475%Hyperliquid0.1270+0.523%Kraken Futures0.1270+0.563%edgeX0.1270+0.591%ApeX Omni0.1271+0.633%Injective0.1276+1.029%
gTrade (Gains Network)
Deribit
Hyperliquid
Kraken Futures
ApeX Omni
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 | −0.457% | −0.0304% | 1h | $22K | $91K | 50x | as long as short |
| Bybit OPUSDT | −0.142% | −0.0303% | 8h | $17.9M | $27.9M | 75x | as long as short |
| Variational Omni OP | −0.132% | −0.0103% | 8h | $234K | $43K | — | as long as short |
| HTX OP-USDT | −0.126% | +0.0100% | 8h | $182K | $270K | 50x | as long as short |
| Reya OPRUSDPERP | −0.079% | +0.0432% | 1h | $705 | — | 20x | as long as short |
| BloFin OP-USDT | −0.071% | +0.0098% | 8h | $1.0M | $585K | 75x | as long as short |
| KuCoin OPUSDTM | −0.063% | +0.0100% | 8h | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | −0.063% | +0.0100% | 8h | $6.0M | $6.5M | 75x | as long as short |
| Orderly PERP_OP_USDC | −0.063% | −0.0075% | 8h | $6K | $53K | 10x | as long as short |
| Aevo OP-PERP | −0.063% | +0.0072% | 1h | $4K | — | 3x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| dYdX OP-USD | −0.062% | 0.0000% | 1h | $39K | $10 | 10x | as long as short |
| BingX OP-USDT | −0.055% | +0.0100% | 8h | — | $6.9M | — | as long as short |
| OKX OP-USDT-SWAP | −0.047% | +0.0029% | 8h | $6.0M | $33.7M | 50x | as long as short |
| Gate OP_USDT | −0.039% | +0.0100% | 8h | $1.8M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | −0.039% | −0.0024% | 8h | $20.3M | $8.8M | 300x | as long as short |
| Binance OPUSDT | −0.032% | −0.0022% | 8h | $20.8M | $69.2M | 75x | as long as short |
| SoDEX OP-USD | −0.032% | +0.0100% | 1h | $181 | $6K | 5x | as long as short |
| Extended OP-USD | −0.018% | −0.0024% | 1h | $101K | $212K | 25x | as long as short |
| Aster OPUSDT | −0.014% | +0.0100% | 8h | $213K | $465K | 10x | as long as short |
| Backpack OP_USDC_PERPlong | 0.000% | +0.0100% | 1h | $137K | $189K | 10x | |
| GMX OP/USD [OP-USDC] | 0.000% | L −0.1162% / S +0.0245% | 1h | $13K | — | 100x | as long as short |
| Lighter OPshort | +0.016% | +0.0096% | 1h | $284K | $863K | 15x | |
| gTrade (Gains Network) OP/USD | +0.016% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.016% | 0.0000% | 1h | $48K | $200K | 25x | as long as short |
| Hyperliquid OP | +0.063% | +0.0100% | 1h | $3.9M | $3.3M | 5x | as long as short |
| Kraken Futures PF_OPUSD | +0.103% | +0.0469% | 1h | $788K | $681K | 20x | as long as short |
| edgeX OPUSDC | +0.131% | +0.0100% | 4h | $8K | $381K | 10x | as long as short |
| ApeX Omni OPUSDT | +0.173% | +0.0100% | 1h | $46K | $712K | 50x | as long as short |
| Injective OP/USDC PERP | +0.567% | +0.0033% | 1h | $25K | $184K | 12x | as long as short |