Funding you earn now, next payment 23:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h −0.041%
Price spread now: Deribit against Extended+0.031%7-day average +0.073% · you sell dearer than you buy
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$730.729% of the position
Funding, last 7 days−0.211%−$21 on $10k
+Price spread, last 3 days (all we have)+0.101%+$10 · spread now +0.031%, 7d avg +0.073%
=Together, before fees−0.109%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.041% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.073%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended OP-USD | 0.1280 | 0.0104 | pay 0.0013% / 1h | 19m 27s | $102K | $186K | 25x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1280 | 0 | get 0.0000% / 1h | 19m 27s | $42K | $171K | 25x |
Extended OP-USD
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Extended. 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
- −$21.84
- Price spread: +0.031% → +0.073%
- −$4.13
- Slippage, 4 orders
- −$60.89
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$98.86
- Costs to cover
- 0.729%
- Break-even
- never at this rate
Slippage from Extended: live order book, 62 min ago; Deribit: live order book, 64 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 Extended live order book, 62 min ago | 11.85 bp | 21.1 bp −$21 | 142.6 bp −$1,426 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 64 min ago | 7.89 bp | 19.3 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.1710% | 1h | 0.1270 | −0.750% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1279 | −0.011% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1269 | −0.828% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1280 | +0.070% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALshort | 0.0000% | 1h | 0.1280 | +0.031% | $42K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1280 | +0.013% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0053% | 8h | 0.1278 | −0.157% | $233K | $53K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0058% | 8h | 0.1279 | −0.047% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1281 | +0.109% | $281K | $910K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1282 | +0.156% | $4.1M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1280 | +0.045% | $214K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1280 | +0.021% | $20.8M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1279 | −0.039% | $18.8M | $25.4M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1280 | −0.008% | $6.0M | $30.2M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1280 | +0.031% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1280 | +0.008% | $20.1M | $7.1M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1279 | −0.047% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1280 | +0.031% | $6.1M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1280 | +0.031% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1279 | −0.047% | $127K | $190K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1278 | −0.101% | $9K | $383K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1279 | −0.047% | $320K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1278 | −0.125% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1279 | −0.039% | $184 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1280 | +0.070% | $177K | $232K | 50x | as long as short |
| Extended OP-USDlong | +0.0104% | 1h | 0.1280 | long leg | $102K | $186K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1279 | −0.009% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1279 | −0.039% | $1.0M | $288K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0225% | 1h | 0.1281 | +0.077% | $800K | $745K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1279 | −0.021% | $711 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
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
Aevo OP-PERP
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP