OP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0138%/8h= −15.1% APRnext payment −$0.17 per $10,000 · paid last 24h +0.078%

Price spread now: Kraken Futures against Extended+0.162%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1051.054% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.162%, 7d avg +0.145%

Together, before fees+0.058%+ Points / potential airdropExtended: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.145%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.086%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended OP-USD	0.1256	0.0104	pay 0.0013% / 1h	49m 11s	$100K	$506K	25x
Short	Kraken Futures PF_OPUSD	0.1258	−0.0034	pay 0.0004% / 1h	49m 11s	$753K	$651K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Extended. 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 ExtendedbpFee Kraken FuturesbpOrdersPrice spread, now +0.162%Rate

Funding earned: −$28.94
Price spread: +0.162% → +0.145%: $1.62
Slippage, 4 orders: −$90.38
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$132.7
Costs to cover: 1.054%
Break-even: never at this rate

Slippage from Extended: live order book, 59 min ago; Kraken Futures: live order book, 59 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, 59 min ago	11.80 bp	21.0 bp −$21	140.6 bp −$1,406	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 59 min ago	15.31 bp	28.2 bp −$28	68.7 bp −$687	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	−0.1760%	1h	0.1248	−0.672%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1259	+0.186%	$13K	—	100x	as long as short
Hyperliquid OP	−0.0118%	1h	0.1258	+0.100%	$3.6M	$3.5M	5x	as long as short
Kraken Futures PF_OPUSDshort	−0.0034%	1h	0.1258	+0.162%	$753K	$651K	20x
Orderly PERP_OP_USDC	−0.0031%	8h	0.1258	+0.124%	$59K	$142K	10x	as long as short
Variational Omni OP	−0.0006%	8h	0.1251	−0.398%	$222K	$46K	—	as long as short
dYdX OP-USD	0.0000%	1h	0.1258	+0.146%	$39K	$522	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1258	+0.124%	$33K	$153K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1258	+0.156%	—	—	150x	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1257	+0.045%	$24K	$64K	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit OPUSDT	+0.0057%	8h	0.1259	+0.228%	$18.5M	$26.0M	75x	as long as short
KuCoin OPUSDTM	+0.0083%	8h	0.1256	−0.035%	$2.8M	$6.3M	75x	as long as short
OKX OP-USDT-SWAP	+0.0088%	8h	0.1260	+0.275%	$6.1M	$29.5M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1258	+0.132%	$277K	$1.1M	15x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1258	+0.147%	$208K	$218K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1258	+0.147%	$19.9M	$66.0M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1258	+0.124%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1260	+0.291%	$23.2M	$7.6M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1259	+0.204%	$5.7M	$6.8M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1260	+0.275%	—	$6.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1260	+0.268%	$107K	$215K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1251	−0.410%	$379K	$767K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1253	−0.248%	$309K	$5.4M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1253	−0.274%	$43K	$702K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1258	+0.132%	$205	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1258	+0.116%	$170K	$253K	50x	as long as short
Extended OP-USDlong	+0.0104%	1h	0.1256	long leg	$100K	$506K	25x
Aevo OP-PERP	+0.0104%	1h	0.1258	+0.096%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1259	+0.180%	$1.0M	$305K	75x	as long as short
Reya OPRUSDPERP	+0.0443%	1h	0.1257	+0.084%	$699	—	20x	as long as short