Spread before costs (cost unknown: a leg has no order-book sample)+0.251%
7d average—if it closes, per $10,000$25funding while held, a day−$1.61
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPUSDT | 0.1259 | −0.0020 | get 0.0020% / 8h | 7h 20m | $20.6M | $68.7M | 75x |
| Short | Orderly PERP_OP_USDC | 0.1262 | −0.0074 | pay 0.0074% / 8h | 7h 20m | $6K | $53K | 10x |
Binance OPUSDT
Orderly PERP_OP_USDCPrice 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
- $25.08
- Funding while held
- −$1.61
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $7.47
- Spread needed to break even
- 0.160%
Slippage unknown: Binance: live order book, 8 min ago; Orderly: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0054%
- Per $10,000 a day
- −$1.61
- 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 Binance live order book, 8 min ago | 0.39 bp | 11.9 bp −$12 | 20.7 bp −$207 | 93.0 bp −$9,298 | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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.Bybit0.1258cheapestReya0.1258+0.012%OKX0.1258+0.048%Extended0.1258+0.050%BingX0.1258+0.064%Gate0.1259+0.103%
Bybit
Reya
OKX
Extended
BingX
GateBinance0.1259+0.107%
KuCoin0.1259+0.119%Bitget0.1259+0.119%MEXC0.1259+0.135%dYdX0.1260+0.177%Lighter0.1261+0.247%Coinbase International0.1261+0.278%Aster0.1261+0.313%Variational Omni0.1261+0.318%BloFin0.1262+0.318%
KuCoin
Bitget
MEXC
dYdX
Lighter
Coinbase International
Aster
Variational Omni
BloFinOrderly0.1262+0.358%
Aevo0.1263+0.398%Hyperliquid0.1263+0.406%SoDEX0.1263+0.414%HTX0.1263+0.421%Backpack0.1263+0.429%Deribit0.1263+0.437%gTrade (Gains Network)0.1263+0.457%GMX0.1264+0.483%Kraken Futures0.1264+0.498%edgeX0.1267+0.764%ApeX Omni0.1268+0.835%Injective0.1276+1.471%
Aevo
Hyperliquid
SoDEX
HTX
Backpack
Deribit
gTrade (Gains Network)
GMX
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 | |
|---|---|---|---|---|---|---|---|
| Bybit OPUSDT | −0.107% | −0.0361% | 8h | $17.8M | $27.5M | 75x | as long as short |
| Reya OPRUSDPERP | −0.095% | +0.0432% | 1h | $699 | — | 20x | as long as short |
| OKX OP-USDT-SWAP | −0.059% | +0.0026% | 8h | $6.0M | $33.0M | 50x | as long as short |
| Extended OP-USD | −0.057% | −0.0024% | 1h | $101K | $208K | 25x | as long as short |
| BingX OP-USDT | −0.043% | +0.0100% | 8h | — | $6.9M | — | as long as short |
| Gate OP_USDT | −0.003% | +0.0100% | 8h | $1.8M | $1.6M | 50x | as long as short |
| Binance OPUSDTlong | 0.000% | −0.0020% | 8h | $20.6M | $68.7M | 75x | |
| KuCoin OPUSDTM | +0.012% | +0.0100% | 8h | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.012% | +0.0100% | 8h | $6.0M | $6.4M | 75x | as long as short |
| MEXC OP_USDT | +0.028% | −0.0020% | 8h | $20.1M | $8.8M | 300x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| dYdX OP-USD | +0.070% | 0.0000% | 1h | $39K | $10 | 10x | as long as short |
| Lighter OP | +0.140% | +0.0096% | 1h | $282K | $900K | 15x | as long as short |
| Coinbase International OP-PERP-INTX | +0.171% | −0.0304% | 1h | $22K | $85K | 50x | as long as short |
| Aster OPUSDT | +0.206% | +0.0100% | 8h | $212K | $465K | 10x | as long as short |
| Variational Omni OP | +0.211% | −0.0122% | 8h | $233K | $43K | — | as long as short |
| BloFin OP-USDT | +0.211% | +0.0100% | 8h | $1.0M | $581K | 75x | as long as short |
| Orderly PERP_OP_USDCshort | +0.251% | −0.0074% | 8h | $6K | $53K | 10x | |
| Aevo OP-PERP | +0.291% | +0.0080% | 1h | $4K | — | 3x | as long as short |
| Hyperliquid OP | +0.298% | +0.0100% | 1h | $3.9M | $3.3M | 5x | as long as short |
| SoDEX OP-USD | +0.306% | +0.0100% | 1h | $180 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.314% | +0.0100% | 8h | $180K | $270K | 50x | as long as short |
| Backpack OP_USDC_PERP | +0.322% | +0.0100% | 1h | $136K | $187K | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.330% | 0.0000% | 1h | $47K | $200K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | +0.350% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | as long as short |
| GMX OP/USD [OP-USDC] | +0.376% | L −0.1162% / S +0.0245% | 1h | $13K | — | 100x | as long as short |
| Kraken Futures PF_OPUSD | +0.390% | +0.0471% | 1h | $784K | $678K | 20x | as long as short |
| edgeX OPUSDC | +0.657% | +0.0100% | 4h | $9K | $378K | 10x | as long as short |
| ApeX Omni OPUSDT | +0.727% | +0.0100% | 1h | $45K | $712K | 50x | as long as short |
| Injective OP/USDC PERP | +1.363% | +0.0033% | 1h | $25K | $184K | 12x | as long as short |