OP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1658%/8h= −181.5% APRnext payment −$2.07 per $10,000 · paid last 24h −0.037%

Price spread now: Injective against Deribit0.000%63s7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.032%−$103 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$50 a day on $10k at the current rate. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.032% in total (about -57.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.07 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit OP_USDC-PERPETUAL	0.1259	0	get 0.0000% / 1h	11m 39s	$42K	$171K	25x
Short	Injective OP/USDC PERP	0.1259	−0.1658	pay 0.0207% / 1h	11m 39s	$35K	$58K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. 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 DeribitbpFee InjectivebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$348.14
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$355.16
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 12 min ago; 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 Deribit live order book, 12 min ago	7.89 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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	0.000%	$35K	$58K	12x
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1259	+0.029%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−1.271%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1260	+0.072%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUALlong	0.0000%	1h	0.1259	long leg	$42K	$171K	25x
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1260	+0.066%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0040%	8h	0.1259	0.000%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0040%	8h	0.1264	+0.373%	$231K	$44K	—	as long as short
OKX OP-USDT-SWAP	+0.0087%	8h	0.1260	+0.079%	$5.9M	$29.8M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1260	+0.048%	$270K	$908K	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	0.1261	+0.127%	$4.1M	$3.0M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1259	+0.037%	$211K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1259	−0.011%	$20.4M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1258	−0.071%	$18.3M	$25.4M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1261	+0.135%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1259	+0.008%	$20.0M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1259	0.000%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1260	+0.079%	$6.0M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1260	+0.095%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1259	−0.016%	$124K	$194K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1264	+0.422%	$8K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1265	+0.474%	$313K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1265	+0.477%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1259	−0.024%	$169	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1260	+0.103%	$174K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1261	+0.125%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1259	−0.002%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0136%	1h	0.1260	+0.100%	$780K	$732K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1261	+0.135%	$1.0M	$281K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1259	−0.020%	$700	—	20x	as long as short