Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.028%
Price spread now: BloFin against Binance+0.097%111s7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$440.435% of the position
Funding, last 7 days+0.211%+$21 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.097%, 7d avg +0.001%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.096% dearer against Binance than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.001%. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPUSDT | 0.1251 | 0.0100 | pay 0.0100% / 8h | 2h 31m | $19.7M | $63.6M | 75x |
| Short | BloFin OP-USDT | 0.1252 | 0.0220 | get 0.0220% / 8h | 2h 31m | $1.0M | $276K | 75x |
Binance OPUSDT
BloFin OP-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $25.2
- Price spread: +0.097% → +0.001%
- $9.64
- Slippage, 4 orders
- −$21.52
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$8.68
- Costs to cover
- 0.435%
- Break-even
- 9.4 days
Slippage from Binance: live order book, 11 min ago; BloFin: live order book, 1 min ago.
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 Binance live order book, 11 min ago | 0.40 bp | 8.3 bp −$8 | 24.9 bp −$249 | 96.6 bp −$9,662 | doesn't fit |
| Sell BloFin live order book, 1 min ago | 0.40 bp | 9.5 bp −$10 | 17.0 bp −$170 | 58.0 bp −$5,798 | doesn't fit |
OP on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1583% | 1h | 0.1247 | −0.286% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1252 | +0.073% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0549% | 1h | 0.1250 | −0.047% | $40K | $139K | 25x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1251 | +0.041% | $39K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1251 | +0.042% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0021% | 8h | 0.1250 | −0.047% | $59K | $142K | 10x | as long as short |
| Variational Omni OP | +0.0030% | 8h | 0.1257 | +0.518% | $222K | $48K | — | as long as short |
| Kraken Futures PF_OPUSD | +0.0075% | 1h | 0.1251 | +0.032% | $752K | $628K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0095% | 8h | 0.1251 | +0.001% | $6.2M | $28.6M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1252 | +0.105% | $289K | $987K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
dYdX OP-USD
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit OPUSDT | +0.0098% | 8h | 0.1250 | −0.071% | $18.5M | $25.5M | 75x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1252 | +0.073% | $3.5M | $2.8M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1251 | +0.019% | $204K | $218K | 10x | as long as short |
| Binance OPUSDTlong | +0.0100% | 8h | 0.1251 | long leg | $19.7M | $63.6M | 75x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1251 | +0.033% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1251 | +0.009% | $22.9M | $7.6M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1250 | −0.047% | $2.8M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1251 | +0.033% | $5.8M | $6.6M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1251 | +0.009% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1252 | +0.105% | $105K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1251 | +0.052% | $379K | $770K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1252 | +0.149% | $317K | $5.2M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1253 | +0.193% | $43K | $704K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1250 | −0.039% | $191 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | +0.105% | $172K | $236K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1250 | −0.051% | $100K | $505K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1251 | +0.003% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1245 | −0.446% | $26K | $59K | 50x | as long as short |
| BloFin OP-USDTshort | +0.0220% | 8h | 0.1252 | +0.097% | $1.0M | $276K | 75x | |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1251 | +0.005% | $695 | — | 20x | as long as short |
Bybit OPUSDT
Hyperliquid OP
Aster OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
Reya OPRUSDPERP