data as of
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Price arb /

OP

all OP markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$75
spread now+0.210%7d average+0.140%fees + slippage, in and out−$82spread needed0.824%
Long on BybitShort on Kraken Futures
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit OPUSDT0.12340.0076pay 0.0076% / 8h5h 19m$17.9M$26.6M75x
ShortKraken Futures PF_OPUSD0.12370.0545get 0.0068% / 1h19m 17s$767K$778K20x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$20.96
Funding while held
$14.06
Slippage, 4 orders
−$61.36
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$47.33
Spread needed to break even
0.824%
Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 15 min ago.

Cost of waiting

funding view
Funding /8h
+0.0469%
Per $10,000 a day
+$14.06
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago0.41 bp12.0 bp −$1216.9 bp −$16984.7 bp −$8,465doesn't fit
Sell Kraken Futures live order book, 15 min ago15.75 bp35.4 bp −$35158.7 bp −$1,587doesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.1225cheapestCoinbase International0.1230+0.408%Variational Omni0.1230+0.424%ApeX Omni0.1232+0.571%edgeX0.1232+0.577%BloFin0.1232+0.604%HTX0.1234+0.694%KuCoin0.1234+0.735%Orderly0.1234+0.735%
Bybit0.1234+0.751%
Gate0.1234+0.759%Backpack0.1234+0.767%BingX0.1235+0.784%Extended0.1235+0.803%SoDEX0.1235+0.808%Aster0.1235+0.813%Binance0.1235+0.816%OKX0.1235+0.816%MEXC0.1235+0.816%Bitget0.1235+0.816%Aevo0.1235+0.816%Deribit0.1235+0.816%dYdX0.1235+0.833%gTrade (Gains Network)0.1235+0.834%Reya0.1235+0.837%GMX0.1236+0.864%Lighter0.1236+0.865%Hyperliquid0.1236+0.906%
Kraken Futures0.1237+0.962%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective OP/USDC PERP−0.745%−0.1842%1h$34K$86K12xas long as short
Coinbase International OP-PERP-INTX−0.340%−0.0336%1h$21K$68K50xas long as short
Variational Omni OP−0.325%−0.0092%8h$223K$41K—as long as short
ApeX Omni OPUSDT−0.178%+0.0100%1h$44K$720K50xas long as short
edgeX OPUSDC−0.173%+0.0100%4h$8K$381K10xas long as short
BloFin OP-USDT−0.146%+0.0217%8h$977K$310K75xas long as short
HTX OP-USDT−0.057%+0.0100%8h$176K$259K50xas long as short
KuCoin OPUSDTM−0.016%+0.0100%8h$2.9M$7.4M75xas long as short
Orderly PERP_OP_USDC−0.016%−0.0036%8h$6K$53K10xas long as short
Bybit OPUSDTlong0.000%+0.0076%8h$17.9M$26.6M75x
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Gate OP_USDT+0.008%+0.0044%8h$1.8M$1.5M50xas long as short
Backpack OP_USDC_PERP+0.016%+0.0100%1h$127K$197K10xas long as short
BingX OP-USDT+0.032%+0.0100%8h—$6.5M—as long as short
Extended OP-USD+0.052%+0.0096%1h$99K$206K25xas long as short
SoDEX OP-USD+0.057%+0.0100%1h$182$6K5xas long as short
Aster OPUSDT+0.062%+0.0100%8h$211K$268K10xas long as short
Binance OPUSDT+0.065%+0.0099%8h$19.5M$65.2M75xas long as short
OKX OP-USDT-SWAP+0.065%+0.0034%8h$5.7M$30.2M50xas long as short
MEXC OP_USDT+0.065%+0.0096%8h$19.5M$7.4M300xas long as short
Bitget OPUSDT+0.065%+0.0100%8h$6.0M$6.2M75xas long as short
Aevo OP-PERP+0.065%+0.0104%1h$4K—3xas long as short
Deribit OP_USDC-PERPETUAL+0.065%0.0000%1h$43K$185K25xas long as short
dYdX OP-USD+0.081%0.0000%1h$38K$43710xas long as short
gTrade (Gains Network) OP/USD+0.083%L +0.0004% / S −0.0004%1h——150xas long as short
Reya OPRUSDPERP+0.086%+0.0434%1h$687—20xas long as short
GMX OP/USD [OP-USDC]+0.112%L −0.1162% / S +0.0245%1h$13K—100xas long as short
Lighter OP+0.113%+0.0096%1h$266K$907K15xas long as short
Hyperliquid OP+0.154%+0.0100%1h$3.8M$3.1M5xas long as short
Kraken Futures PF_OPUSDshort+0.210%+0.0545%1h$767K$778K20x