Funding you earn now, next payment 08:00 UTC−0.0051%/8h= −5.6% APRnext payment −$0.51 per $10,000 · paid last 24h −0.019%
Price spread now: OKX against Bybit+0.063%7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$480.478% of the position
Funding, last 7 days−0.033%−$3 on $10k
+Price spread, last 7 days−0.024%−$2 · spread now +0.063%, 7d avg +0.024%
=The price spread pays, funding is against you. OKX is 0.039% dearer against Bybit than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of +0.024%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.033% in total) that is about 8.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPUSDT | 0.1268 | 0.0100 | pay 0.0100% / 8h | 5h 56m | $18.4M | $25.3M | 75x |
| Short | OKX OP-USDT-SWAP | 0.1269 | 0.0049 | get 0.0049% / 8h | 5h 56m | $6.1M | $29.2M | 50x |
Bybit OPUSDT
OKX OP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. 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
- −$10.72
- Price spread: +0.063% → +0.024%
- $3.89
- Slippage, 4 orders
- −$26.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$54.64
- Costs to cover
- 0.478%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 2 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 Bybit live order book, 2 min ago | 0.40 bp | 11.1 bp −$11 | 27.4 bp −$274 | 130.7 bp −$13.1K | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.40 bp | 13.8 bp −$14 | 33.9 bp −$339 | doesn't fit | doesn't fit |
OP on 29 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 | −0.1488% | 1h | 0.1259 | −0.710% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1262 | −0.479% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1267 | −0.103% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1261 | −0.552% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1269 | +0.057% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAPshort | +0.0049% | 8h | 0.1269 | +0.063% | $6.1M | $29.2M | 50x | |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1260 | −0.631% | $6K | $45K | 10x | as long as short |
| Variational Omni OP | +0.0055% | 8h | 0.1264 | −0.345% | $223K | $50K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1267 | −0.047% | $281K | $934K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1270 | +0.134% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | −0.200% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1270 | +0.122% | $20.4M | $60.6M | 75x | as long as short |
| Bybit OPUSDTlong | +0.0100% | 8h | 0.1268 | long leg | $18.4M | $25.3M | 75x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1267 | −0.079% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1269 | +0.087% | $20.8M | $6.9M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1268 | 0.000% | $2.9M | $6.8M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1269 | +0.079% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1268 | 0.000% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1261 | −0.521% | $120K | $195K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | −0.266% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1264 | −0.288% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1266 | −0.158% | $43K | $706K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1261 | −0.568% | $186 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1261 | −0.521% | $174K | $218K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1268 | +0.014% | $101K | $392K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1261 | −0.552% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | −0.237% | $24K | $71K | 50x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1268 | +0.034% | $705 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0491% | 1h | 0.1263 | −0.402% | $798K | $585K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
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
Kraken Futures PF_OPUSD