Funding you earn now, next payment 21:00 UTC−0.1330%/8h= −145.6% APRnext payment −$1.66 per $10,000 · paid last 24h +0.030%
Price spread now: Injective against Coinbase International+1.287%64s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.977%−$98 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 1.287% dearer against Coinbase International than usual: you sell high and buy low (spread +1.287% now, against zero (this spread has no 7-day history yet)): +$129 on $10k if it goes back. Holding the pair costs −$40 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.977% in total) that is about 9.2 days. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OP-PERP-INTX | 0.1243 | −0.0328 | get 0.0041% / 1h | 14m 08s | $21K | $64K | 50x |
| Short | Injective OP/USDC PERP | 0.1259 | −0.1658 | pay 0.0207% / 1h | 14m 08s | $35K | $58K | 12x |
Coinbase International OP-PERP-INTX
Injective OP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$279.26
- Price spread: +1.287% → 0.000%
- $128.72
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$160.56
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Coinbase International: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample | — | — | — | — | — |
Coinbase International and Injective: 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 PERPshort | −0.1658% | 1h | 0.1259 | +1.287% | $35K | $58K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.1066% / S +0.0229% | 1h | 0.1264 | +1.723% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTXlong | −0.0328% | 1h | 0.1243 | long leg | $21K | $64K | 50x | |
| dYdX OP-USD | 0.0000% | 1h | 0.1265 | +1.763% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1265 | +1.770% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1265 | +1.757% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0039% | 8h | 0.1264 | +1.689% | $6K | $50K | 10x | as long as short |
| Variational Omni OP | +0.0040% | 8h | 0.1264 | +1.665% | $231K | $44K | — | as long as short |
| OKX OP-USDT-SWAP | +0.0088% | 8h | 0.1264 | +1.665% | $5.9M | $29.9M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1265 | +1.770% | $271K | $907K | 15x | as long as short |
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1265 | +1.802% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1264 | +1.666% | $212K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1264 | +1.703% | $20.5M | $62.7M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | +1.593% | $18.4M | $25.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | +1.698% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | +1.714% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1263 | +1.609% | $2.9M | $7.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1265 | +1.770% | $6.0M | $6.3M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1264 | +1.689% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1264 | +1.673% | $125K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | +1.804% | $8K | $381K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1265 | +1.768% | $313K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1266 | +1.850% | $45K | $720K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1264 | +1.681% | $166 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1266 | +1.850% | $175K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1264 | +1.655% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1265 | +1.763% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1265 | +1.795% | $782K | $731K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1264 | +1.722% | $1.0M | $282K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1264 | +1.673% | $703 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit 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
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP