Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against edgeX+0.117%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$500.496% of the position
Funding, last 7 days+0.140%+$14 on $10k
+Price spread, last 4 days (all we have)−0.638%−$64 · spread now +0.117%, 7d avg +0.039%
=Together, before fees−0.498%+ Points / potential airdropedgeX: Active · farm board−$50 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.078% dearer against edgeX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.039%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX OPUSDC | 0.1264 | 0.0100 | pay 0.0050% / 4h | 2h 25m | $4K | $387K | 10x |
| Short | Backpack OP_USDC_PERP | 0.1266 | 0.0100 | get 0.0013% / 1h | 25m 10s | $125K | $203K | 10x |
edgeX OPUSDC
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against edgeX. 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
- $0
- Price spread: +0.117% → +0.039%
- $7.83
- Slippage, 4 orders
- −$30.56
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$41.73
- Costs to cover
- 0.496%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 43 min ago; Backpack: live order book, 43 min ago.
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 edgeX live order book, 43 min ago | 3.92 bp | 15.4 bp −$15 | 133.6 bp −$1,336 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 43 min ago | 1.18 bp | 12.0 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
OP on 29 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 | −0.1535% | 1h | 0.1260 | −0.334% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1267 | +0.247% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0184% | 1h | 0.1279 | +1.169% | $25K | $75K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1266 | +0.124% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1267 | +0.220% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1267 | +0.220% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0053% | 8h | 0.1264 | +0.018% | $225K | $49K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0057% | 8h | 0.1266 | +0.141% | $6K | $47K | 10x | as long as short |
| OKX OP-USDT-SWAP | +0.0088% | 8h | 0.1265 | +0.070% | $6.1M | $29.9M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1268 | +0.283% | $282K | $949K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
OKX OP-USDT-SWAP
Lighter OPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1266 | +0.165% | $3.7M | $3.1M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1267 | +0.248% | $212K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1266 | +0.160% | $20.4M | $62.1M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1266 | +0.133% | $18.4M | $26.0M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1267 | +0.236% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1267 | +0.196% | $20.7M | $7.5M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1266 | +0.141% | $2.9M | $6.9M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1267 | +0.220% | $5.9M | $6.6M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1267 | +0.204% | — | $6.9M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1266 | +0.117% | $125K | $203K | 10x | |
| edgeX OPUSDClong | +0.0100% | 4h | 0.1264 | long leg | $4K | $387K | 10x | |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1265 | +0.040% | $311K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1260 | −0.334% | $43K | $712K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1266 | +0.149% | $178 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1267 | +0.181% | $175K | $226K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1266 | +0.142% | $104K | $393K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1267 | +0.191% | $3K | $1K | 3x | as long as short |
| Reya OPRUSDPERP | +0.0439% | 1h | 0.1267 | +0.213% | $704 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0460% | 1h | 0.1267 | +0.259% | $800K | $593K | 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-USDT
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Reya OPRUSDPERP
Kraken Futures PF_OPUSD