Spread before costs (cost unknown: a leg has no order-book sample)+0.121%
7d average—if it closes, per $10,000$12funding while held, a day+$13.32
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OP-PERP-INTX | 0.1240 | −0.0344 | get 0.0043% / 1h | 40m 50s | $21K | $74K | 50x |
| Short | Hyperliquid OP | 0.1241 | 0.0100 | get 0.0013% / 1h | 40m 50s | $3.9M | $3.3M | 5x |
Coinbase International OP-PERP-INTX
Hyperliquid OPPrice 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
- $12.1
- Funding while held
- $13.32
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $6.42
- Spread needed to break even
- 0.190%
Slippage unknown: Coinbase International: no order-book sample; Hyperliquid: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0444%
- Per $10,000 a day
- +$13.32
- 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 2 min ago | 0.40 bp | 10.9 bp −$11 | doesn't fit | 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 price on every exchange
against the cheapest. Click to use as the short leg.Gate0.1240cheapestKuCoin0.1240+0.040%
Gate
KuCoinCoinbase International0.1240+0.040%
Extended0.1240+0.048%HTX0.1240+0.065%BloFin0.1240+0.073%Bybit0.1240+0.081%OKX0.1240+0.081%Backpack0.1240+0.081%MEXC0.1241+0.097%Bitget0.1241+0.121%BingX0.1241+0.121%Binance0.1241+0.138%Aevo0.1241+0.147%SoDEX0.1241+0.153%
Extended
HTX
BloFin
Bybit
OKX
Backpack
MEXC
Bitget
BingX
Binance
Aevo
SoDEXHyperliquid0.1241+0.161%
Aster0.1242+0.169%Lighter0.1242+0.194%Orderly0.1242+0.202%Deribit0.1242+0.202%Reya0.1242+0.224%GMX0.1243+0.248%gTrade (Gains Network)0.1243+0.267%Kraken Futures0.1243+0.281%dYdX0.1244+0.355%edgeX0.1247+0.629%ApeX Omni0.1248+0.686%Variational Omni0.1250+0.847%Injective0.1276+2.945%
Aster
Lighter
Orderly
Deribit
Reya
GMX
gTrade (Gains Network)
Kraken Futures
dYdX
ApeX Omni
Variational Omni
InjectiveOP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate OP_USDT | −0.040% | +0.0100% | 8h | $1.8M | $1.4M | 50x | as long as short |
| KuCoin OPUSDTM | 0.000% | +0.0100% | 8h | $2.9M | $7.3M | 75x | as long as short |
| Coinbase International OP-PERP-INTXlong | 0.000% | −0.0344% | 1h | $21K | $74K | 50x | |
| Extended OP-USD | +0.008% | +0.0008% | 1h | $99K | $207K | 25x | as long as short |
| HTX OP-USDT | +0.024% | +0.0100% | 8h | $175K | $264K | 50x | as long as short |
| BloFin OP-USDT | +0.032% | +0.0021% | 8h | $1.0M | $372K | 75x | as long as short |
| Bybit OPUSDT | +0.040% | −0.0091% | 8h | $17.7M | $26.2M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.040% | +0.0007% | 8h | $5.8M | $31.8M | 50x | as long as short |
| Backpack OP_USDC_PERP | +0.040% | +0.0100% | 1h | $132K | $187K | 10x | as long as short |
| MEXC OP_USDT | +0.056% | +0.0005% | 8h | $19.7M | $8.2M | 300x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bitget OPUSDT | +0.081% | +0.0100% | 8h | $5.9M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.081% | +0.0100% | 8h | — | $1.6M | — | as long as short |
| Binance OPUSDT | +0.097% | +0.0005% | 8h | $20.1M | $65.9M | 75x | as long as short |
| Aevo OP-PERP | +0.106% | +0.0080% | 1h | $4K | — | 3x | as long as short |
| SoDEX OP-USD | +0.113% | +0.0100% | 1h | $184 | $6K | 5x | as long as short |
| Hyperliquid OPshort | +0.121% | +0.0100% | 1h | $3.9M | $3.3M | 5x | |
| Aster OPUSDT | +0.129% | +0.0100% | 8h | $206K | $226K | 10x | as long as short |
| Lighter OP | +0.153% | +0.0096% | 1h | $272K | $908K | 15x | as long as short |
| Orderly PERP_OP_USDC | +0.161% | −0.0069% | 8h | $6K | $53K | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.161% | 0.0000% | 1h | $47K | $200K | 25x | as long as short |
| Reya OPRUSDPERP | +0.184% | +0.0432% | 1h | $691 | — | 20x | as long as short |
| GMX OP/USD [OP-USDC] | +0.208% | L −0.1436% / S +0.0290% | 1h | $13K | — | 100x | as long as short |
| gTrade (Gains Network) OP/USD | +0.227% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | as long as short |
| Kraken Futures PF_OPUSD | +0.241% | +0.0617% | 1h | $771K | $670K | 20x | as long as short |
| dYdX OP-USD | +0.315% | 0.0000% | 1h | $38K | $10 | 10x | as long as short |
| edgeX OPUSDC | +0.588% | +0.0100% | 4h | $9K | $382K | 10x | as long as short |
| ApeX Omni OPUSDT | +0.645% | +0.0100% | 1h | $45K | $713K | 50x | as long as short |
| Variational Omni OP | +0.806% | −0.0127% | 8h | $231K | $42K | — | as long as short |
| Injective OP/USDC PERP | +2.903% | +0.0033% | 1h | $25K | $134K | 12x | as long as short |