data as of
Settings8H · net · $10k
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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−$66
spread now+0.089%7d average+0.085%fees + slippage, in and out−$67spread needed0.669%
Long on BybitShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit OPUSDT0.12350.0047pay 0.0047% / 8h5h 27m$18.1M$26.7M75x
ShortLighter OP0.12360.0096get 0.0012% / 1h27m 26s$266K$907K15x

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
$8.91
Funding while held
$1.46
Slippage, 4 orders
−$55.89
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Lighter: 0 bp × 2 orders
$0
Net
−$56.53
Spread needed to break even
0.669%
Slippage from Bybit: live order book, 3 min ago; Lighter: live order book, 65 min ago.

Cost of waiting

funding view
Funding /8h
+0.0049%
Per $10,000 a day
+$1.46
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, 3 min ago1.21 bp14.3 bp −$1417.3 bp −$17392.1 bp −$9,208doesn't fit
Sell Lighter live order book, 65 min ago5.62 bp26.2 bp −$2662.6 bp −$626doesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.1232cheapest
Bybit0.1235+0.211%
Variational Omni0.1235+0.228%Gate0.1235+0.235%Extended0.1235+0.238%KuCoin0.1235+0.244%BingX0.1235+0.244%Coinbase International0.1235+0.244%MEXC0.1235+0.260%Reya0.1235+0.265%Binance0.1235+0.268%OKX0.1235+0.268%dYdX0.1235+0.279%
Lighter0.1236+0.300%
Bitget0.1236+0.325%Hyperliquid0.1236+0.341%Aster0.1236+0.357%Backpack0.1236+0.365%HTX0.1237+0.373%SoDEX0.1237+0.381%Deribit0.1237+0.406%Aevo0.1237+0.428%GMX0.1238+0.457%BloFin0.1238+0.463%edgeX0.1238+0.475%gTrade (Gains Network)0.1238+0.481%ApeX Omni0.1238+0.487%Orderly0.1238+0.487%Kraken Futures0.1239+0.540%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective OP/USDC PERP−0.211%−0.1842%1h$34K$86K12xas long as short
Bybit OPUSDTlong0.000%+0.0047%8h$18.1M$26.7M75x
Variational Omni OP+0.017%−0.0105%8h$224K$41K—as long as short
Gate OP_USDT+0.024%+0.0026%8h$1.8M$1.5M50xas long as short
Extended OP-USD+0.027%+0.0096%1h$99K$206K25xas long as short
KuCoin OPUSDTM+0.032%+0.0100%8h$3.0M$7.4M75xas long as short
BingX OP-USDC+0.032%+0.0100%8h—$1.6M—as long as short
Coinbase International OP-PERP-INTX+0.032%−0.0336%1h$21K$69K50xas long as short
MEXC OP_USDT+0.049%+0.0096%8h$19.5M$7.4M300xas long as short
Reya OPRUSDPERP+0.054%+0.0433%1h$687—20xas long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance OPUSDT+0.057%+0.0096%8h$19.6M$65.4M75xas long as short
OKX OP-USDT-SWAP+0.057%+0.0025%8h$5.6M$30.3M50xas long as short
dYdX OP-USD+0.068%0.0000%1h$38K$1010xas long as short
Lighter OPshort+0.089%+0.0096%1h$266K$907K15x
Bitget OPUSDT+0.113%+0.0100%8h$6.0M$6.2M75xas long as short
Hyperliquid OP+0.130%+0.0100%1h$3.8M$3.1M5xas long as short
Aster OPUSDT+0.146%+0.0100%8h$212K$268K10xas long as short
Backpack OP_USDC_PERP+0.154%+0.0100%1h$127K$198K10xas long as short
HTX OP-USDT+0.162%+0.0100%8h$176K$259K50xas long as short
SoDEX OP-USD+0.170%+0.0100%1h$195$6K5xas long as short
Deribit OP_USDC-PERPETUAL+0.194%0.0000%1h$43K$186K25xas long as short
Aevo OP-PERP+0.216%+0.0104%1h$4K—3xas long as short
GMX OP/USD [OP-USDC]+0.245%L −0.1162% / S +0.0245%1h$13K—100xas long as short
BloFin OP-USDT+0.251%+0.0214%8h$986K$315K75xas long as short
edgeX OPUSDC+0.263%+0.0100%4h$8K$379K10xas long as short
gTrade (Gains Network) OP/USD+0.270%L +0.0004% / S −0.0004%1h——150xas long as short
ApeX Omni OPUSDT+0.275%+0.0100%1h$44K$720K50xas long as short
Orderly PERP_OP_USDC+0.275%−0.0041%8h$6K$54K10xas long as short
Kraken Futures PF_OPUSD+0.328%+0.0544%1h$768K$789K20xas long as short