Spread before costs (cost unknown: a leg has no order-book sample)+0.170%
7d average—if it closes, per $10,000$17funding while held, a day+$2.35
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPUSDT | 0.1243 | −0.0078 | get 0.0078% / 8h | 6h 17m | $17.6M | $25.7M | 75x |
| Short | dYdX OP-USD | 0.1245 | 0 | get 0.0000% / 1h | 17m 19s | $38K | $10 | 10x |
Bybit OPUSDT
dYdX 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
- $16.99
- Funding while held
- $2.35
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$1.66
- Spread needed to break even
- 0.210%
Slippage unknown: Bybit: live order book, 3 min ago; dYdX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0078%
- Per $10,000 a day
- +$2.35
- 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 Bybit live order book, 3 min ago | 0.40 bp | 11.3 bp −$11 | 26.4 bp −$264 | 106.0 bp −$10.6K | doesn't fit |
| Sell dYdX no order-book sample | — | — | — | — | — |
dYdX: 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 International0.1237cheapestApeX Omni0.1242+0.404%Variational Omni0.1243+0.449%
Coinbase International
ApeX Omni
Variational OmniBybit0.1243+0.485%
OKX0.1243+0.509%BloFin0.1244+0.525%SoDEX0.1244+0.550%Extended0.1244+0.554%BingX0.1244+0.558%Gate0.1244+0.566%KuCoin0.1244+0.566%Deribit0.1244+0.566%Binance0.1244+0.587%HTX0.1244+0.590%MEXC0.1245+0.606%GMX0.1245+0.609%Reya0.1245+0.609%Aster0.1245+0.617%Aevo0.1245+0.618%Backpack0.1245+0.622%edgeX0.1245+0.642%Bitget0.1245+0.647%Orderly0.1245+0.647%gTrade (Gains Network)0.1245+0.648%
OKX
BloFin
SoDEX
Extended
BingX
Gate
KuCoin
Deribit
Binance
HTX
MEXC
GMX
Reya
Aster
Aevo
Backpack
Bitget
Orderly
gTrade (Gains Network)dYdX0.1245+0.656%
Lighter0.1245+0.663%Hyperliquid0.1246+0.695%Kraken Futures0.1246+0.721%Injective0.1276+3.153%
Lighter
Hyperliquid
Kraken Futures
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 | −0.483% | −0.0344% | 1h | $21K | $71K | 50x | as long as short |
| ApeX Omni OPUSDT | −0.080% | +0.0100% | 1h | $45K | $719K | 50x | as long as short |
| Variational Omni OP | −0.036% | −0.0130% | 8h | $226K | $45K | — | as long as short |
| Bybit OPUSDTlong | 0.000% | −0.0078% | 8h | $17.6M | $25.7M | 75x | |
| OKX OP-USDT-SWAP | +0.024% | +0.0018% | 8h | $5.8M | $30.8M | 50x | as long as short |
| BloFin OP-USDT | +0.040% | +0.0150% | 8h | $1.0M | $340K | 75x | as long as short |
| SoDEX OP-USD | +0.064% | +0.0100% | 1h | $189 | $6K | 5x | as long as short |
| Extended OP-USD | +0.068% | +0.0040% | 1h | $99K | $206K | 25x | as long as short |
| BingX OP-USDT | +0.072% | +0.0100% | 8h | — | $7.0M | — | as long as short |
| Gate OP_USDT | +0.080% | +0.0043% | 8h | $1.8M | $1.5M | 50x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin OPUSDTM | +0.080% | +0.0100% | 8h | $2.9M | $7.3M | 75x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.080% | 0.0000% | 1h | $44K | $202K | 25x | as long as short |
| Binance OPUSDT | +0.102% | +0.0040% | 8h | $20.3M | $64.7M | 75x | as long as short |
| HTX OP-USDT | +0.105% | +0.0100% | 8h | $176K | $265K | 50x | as long as short |
| MEXC OP_USDT | +0.121% | +0.0037% | 8h | $20.0M | $8.3M | 300x | as long as short |
| GMX OP/USD [OP-USDC] | +0.123% | L −0.1711% / S +0.0335% | 1h | $13K | — | 100x | as long as short |
| Reya OPRUSDPERP | +0.123% | +0.0433% | 1h | $692 | — | 20x | as long as short |
| Aster OPUSDT | +0.131% | +0.0100% | 8h | $202K | $259K | 10x | as long as short |
| Aevo OP-PERP | +0.133% | +0.0088% | 1h | $4K | — | 3x | as long as short |
| Backpack OP_USDC_PERP | +0.137% | +0.0100% | 1h | $127K | $199K | 10x | as long as short |
| edgeX OPUSDC | +0.156% | +0.0100% | 4h | $9K | $381K | 10x | as long as short |
| Bitget OPUSDT | +0.161% | +0.0100% | 8h | $5.9M | $6.0M | 75x | as long as short |
| Orderly PERP_OP_USDC | +0.161% | −0.0061% | 8h | $6K | $54K | 10x | as long as short |
| gTrade (Gains Network) OP/USD | +0.163% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | as long as short |
| dYdX OP-USDshort | +0.170% | 0.0000% | 1h | $38K | $10 | 10x | |
| Lighter OP | +0.177% | +0.0096% | 1h | $267K | $916K | 15x | as long as short |
| Hyperliquid OP | +0.209% | +0.0100% | 1h | $3.9M | $3.1M | 5x | as long as short |
| Kraken Futures PF_OPUSD | +0.235% | +0.0615% | 1h | $772K | $675K | 20x | as long as short |
| Injective OP/USDC PERP | +2.655% | +0.0033% | 1h | $25K | $134K | 12x | as long as short |