data as of
Settings8H · net · $10k
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Price arb /

OP

all OP markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$82
spread now−0.399%7d average−0.060%fees + slippage, in and out−$48spread needed0.484%
Long on DeribitShort on Bybit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit OP_USDC-PERPETUAL0.12790get 0.0000% / 1h1m 43s$48K$199K25x
ShortBybit OPUSDT0.12740.0016get 0.0016% / 8h1h 01m$17.9M$27.4M75x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$39.87
Funding while held
$0.47
Slippage, 4 orders
−$30.43
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$87.83
Spread needed to break even
0.484%
Slippage from Deribit: live order book, 34 min ago; Bybit: live order book, 3 min ago.

Cost of waiting

funding view
Funding /8h
+0.0016%
Per $10,000 a day
+$0.47
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Deribit live order book, 34 min ago7.82 bp11.3 bp −$11doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 3 min ago0.39 bp13.9 bp −$1427.0 bp −$27076.1 bp −$7,613doesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International0.1271cheapest
Bybit0.1274+0.228%
OKX0.1274+0.268%MEXC0.1275+0.291%Binance0.1275+0.293%Lighter0.1275+0.315%Bitget0.1275+0.315%Extended0.1275+0.338%dYdX0.1276+0.381%KuCoin0.1276+0.393%BingX0.1276+0.393%Injective0.1276+0.393%Aster0.1276+0.411%Hyperliquid0.1276+0.417%Gate0.1277+0.448%Backpack0.1277+0.464%SoDEX0.1277+0.464%Kraken Futures0.1278+0.550%Aevo0.1278+0.589%Reya0.1278+0.590%HTX0.1279+0.622%Orderly0.1279+0.629%
Deribit0.1279+0.629%
BloFin0.1279+0.645%gTrade (Gains Network)0.1280+0.673%GMX0.1280+0.676%edgeX0.1282+0.872%Variational Omni0.1283+0.953%ApeX Omni0.1284+1.023%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International OP-PERP-INTX−0.625%−0.0328%1h$27K$84K50xas long as short
Bybit OPUSDTshort−0.399%+0.0016%8h$17.9M$27.4M75x
OKX OP-USDT-SWAP−0.360%+0.0053%8h$6.1M$32.6M50xas long as short
MEXC OP_USDT−0.336%−0.0131%8h$20.1M$9.0M300xas long as short
Binance OPUSDT−0.335%−0.0133%8h$20.8M$65.7M75xas long as short
Lighter OP−0.313%+0.0096%1h$299K$826K15xas long as short
Bitget OPUSDT−0.313%+0.0100%8h$5.9M$6.1M75xas long as short
Extended OP-USD−0.290%−0.0128%1h$102K$214K25xas long as short
dYdX OP-USD−0.247%0.0000%1h$39K$1010xas long as short
KuCoin OPUSDTM−0.235%+0.0100%8h$2.9M$6.9M75xas long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BingX OP-USDC−0.235%+0.0100%8h—$1.6M—as long as short
Injective OP/USDC PERP−0.235%+0.0033%1h$25K$238K12xas long as short
Aster OPUSDT−0.217%+0.0100%8h$201K$433K10xas long as short
Hyperliquid OP−0.211%+0.0100%1h$4.1M$3.1M5xas long as short
Gate OP_USDT−0.180%+0.0100%8h$1.8M$1.7M50xas long as short
Backpack OP_USDC_PERP−0.164%+0.0100%1h$132K$167K10xas long as short
SoDEX OP-USD−0.164%+0.0100%1h$172$5K5xas long as short
Kraken Futures PF_OPUSD−0.079%+0.0142%1h$788K$660K20xas long as short
Aevo OP-PERP−0.040%+0.0048%1h$4K—3xas long as short
Reya OPRUSDPERP−0.039%+0.0430%1h$711—20xas long as short
HTX OP-USDT−0.008%+0.0100%8h$192K$244K50xas long as short
Orderly PERP_OP_USDC0.000%−0.0082%8h$7K$53K10xas long as short
Deribit OP_USDC-PERPETUALlong0.000%0.0000%1h$48K$199K25x
BloFin OP-USDT+0.016%−0.0012%8h$1.0M$584K75xas long as short
gTrade (Gains Network) OP/USD+0.043%L +0.0005% / S −0.0004%1h$1K—150xas long as short
GMX OP/USD [OP-USDC]+0.046%L −0.1469% / S +0.0291%1h$13K—100xas long as short
edgeX OPUSDC+0.241%+0.0100%4h$10K$415K10xas long as short
Variational Omni OP+0.322%−0.0062%8h$237K$45K—as long as short
ApeX Omni OPUSDT+0.391%+0.0100%1h$46K$715K50xas long as short