Funding you earn now, next payment 08:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h +0.077%
Price spread now: Extended against Coinbase International−0.170%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.232%+$23 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Extended is 0.170% cheaper against Coinbase International than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.232%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OP-PERP-INTX | 0.1265 | 0.0112 | pay 0.0014% / 1h | 1m 53s | $25K | $69K | 50x |
| Short | Extended OP-USD | 0.1263 | 0.0096 | get 0.0012% / 1h | 1m 53s | $104K | $590K | 25x |
Coinbase International OP-PERP-INTX
Extended OP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Coinbase International. 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
- −$3.36
- Price spread: −0.170% → 0.000%
- −$16.95
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$35.31
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; Extended: live order book, 31 min ago. Net counts fees only.
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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Extended live order book, 31 min ago | 12.10 bp | 21.7 bp −$22 | 151.5 bp −$1,515 | doesn't fit | doesn't fit |
Coinbase International: 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 on 30 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 | −0.1328% | 1h | 0.1257 | −0.632% | $35K | $67K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1263 | −0.141% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0542% | 1h | 0.1262 | −0.237% | $31K | $153K | 25x | as long as short |
| Orderly PERP_OP_USDC | −0.0051% | 8h | 0.1263 | −0.158% | $12K | $233K | 10x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1265 | −0.009% | $39K | $522 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | −0.107% | — | — | 150x | as long as short |
| KuCoin OPUSDTM | +0.0016% | 8h | 0.1263 | −0.158% | $2.9M | $6.0M | 75x | as long as short |
| Variational Omni OP | +0.0073% | 8h | 0.1263 | −0.139% | $224K | $46K | — | as long as short |
| Binance OPUSDT | +0.0094% | 8h | 0.1263 | −0.158% | $19.5M | $68.0M | 75x | as long as short |
| MEXC OP_USDT | +0.0095% | 8h | 0.1263 | −0.182% | $22.5M | $7.9M | 300x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Orderly PERP_OP_USDC
dYdX OP-USD
gTrade (Gains Network) OP/USD
KuCoin OPUSDTM
Variational Omni OP
Binance OPUSDT
MEXC OP_USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1264 | −0.095% | $290K | $1.1M | 15x | as long as short |
| Extended OP-USDshort | +0.0096% | 1h | 0.1263 | −0.170% | $104K | $590K | 25x | |
| Hyperliquid OP | +0.0100% | 1h | 0.1263 | −0.166% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | −0.036% | $204K | $211K | 10x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | −0.174% | $18.5M | $26.2M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1263 | −0.119% | $6.1M | $29.6M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | −0.079% | $2.0M | $1.5M | 50x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | −0.158% | $5.8M | $6.8M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1263 | −0.150% | — | $6.7M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1263 | −0.182% | $113K | $214K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1263 | −0.136% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1263 | −0.158% | $307K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1264 | −0.079% | $44K | $692K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1263 | −0.190% | $197 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | −0.087% | $172K | $266K | 50x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1263 | −0.175% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTXlong | +0.0112% | 1h | 0.1265 | long leg | $25K | $69K | 50x | |
| Kraken Futures PF_OPUSD | +0.0153% | 1h | 0.1264 | −0.040% | $748K | $735K | 20x | as long as short |
| BloFin OP-USDT | +0.0215% | 8h | 0.1265 | −0.040% | $989K | $279K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1262 | −0.204% | $702 | — | 20x | as long as short |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Aevo OP-PERP
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP