OP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0085%/8h= +9.3% APRnext payment +$0.11 per $10,000 · paid last 24h +0.166%

Price spread now: Kraken Futures against Coinbase International−0.159%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.334%+$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.159% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.159% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 6.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OP-PERP-INTX	0.1251	0.0080	pay 0.0010% / 1h	59m 14s	$24K	$65K	50x
Short	Kraken Futures PF_OPUSD	0.1249	0.0165	get 0.0021% / 1h	59m 14s	$748K	$668K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now −0.159%Rate

Funding earned: $17.83
Price spread: −0.159% → 0.000%: −$15.88
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$18.05
Costs to cover: 0.200%
Break-even: 14.1 days

Slippage unknown: Coinbase International: no order-book sample; Kraken Futures: live order book, 44 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 Kraken Futures live order book, 44 min ago	9.88 bp	27.2 bp −$27	95.2 bp −$952	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	−0.1660%	1h	0.1244	−0.560%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0898% / S +0.0202%	1h	0.1248	−0.208%	$13K	—	100x	as long as short
Orderly PERP_OP_USDC	−0.0055%	8h	0.1249	−0.160%	$12K	$236K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1250	−0.100%	$39K	$522	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1248	−0.240%	$32K	$154K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1249	−0.186%	—	—	150x	as long as short
Variational Omni OP	+0.0021%	8h	0.1248	−0.273%	$221K	$47K	—	as long as short
KuCoin OPUSDTM	+0.0061%	8h	0.1247	−0.320%	$2.8M	$6.2M	75x	as long as short
Coinbase International OP-PERP-INTXlong	+0.0080%	1h	0.1251	long leg	$24K	$65K	50x
Lighter OP	+0.0096%	1h	0.1248	−0.208%	$274K	$1.1M	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1249	−0.176%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1248	−0.211%	$205K	$210K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1247	−0.296%	$19.7M	$67.2M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1247	−0.320%	$18.3M	$26.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1248	−0.272%	$6.0M	$29.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1249	−0.184%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1248	−0.216%	$22.3M	$7.7M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1248	−0.240%	$5.6M	$6.9M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1248	−0.240%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1249	−0.136%	$115K	$220K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1248	−0.234%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1248	−0.228%	$311K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1248	−0.240%	$43K	$698K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1247	−0.288%	$212	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1249	−0.136%	$167K	$256K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1247	−0.313%	$104K	$534K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1248	−0.254%	$3K	$1K	3x	as long as short
Kraken Futures PF_OPUSDshort	+0.0165%	1h	0.1249	−0.159%	$748K	$668K	20x
BloFin OP-USDT	+0.0220%	8h	0.1247	−0.304%	$992K	$322K	75x	as long as short
Reya OPRUSDPERP	+0.0444%	1h	0.1247	−0.285%	$694	—	20x	as long as short