Spread before costs (cost unknown: a leg has no order-book sample)+0.143%
7d average—if it closes, per $10,000$14funding while held, a day+$7.41
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) OP/USD | 0.1298 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 38m 51s | — | — | 150x |
| Short | Hyperliquid OP | 0.1300 | 0.0251 | get 0.0031% / 1h | 38m 51s | $4.2M | $2.9M | 5x |
gTrade (Gains Network) OP/USD
Hyperliquid OPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $14.33
- Funding while held
- $7.41
- Slippage, 4 orders
- no order book: not counted
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $2.74
- Spread needed to break even
- 0.190%
Slippage unknown: gTrade (Gains Network): no order-book sample; Hyperliquid: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0247%
- Per $10,000 a day
- +$7.41
- Average in range /8h
- —
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 gTrade (Gains Network) no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 4 min ago | 1.54 bp | 11.6 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
gTrade (Gains Network): 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 price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International0.1295cheapestVariational Omni0.1296+0.045%Aevo0.1296+0.116%Bybit0.1297+0.131%edgeX0.1297+0.132%Orderly0.1297+0.154%Injective0.1297+0.154%SoDEX0.1297+0.154%Deribit0.1297+0.154%Reya0.1297+0.170%Backpack0.1297+0.170%Extended0.1297+0.175%HTX0.1297+0.178%MEXC0.1297+0.185%GMX0.1297+0.192%BloFin0.1298+0.201%
Coinbase International
Variational Omni
Aevo
Bybit
Orderly
Injective
SoDEX
Deribit
Reya
Backpack
Extended
HTX
MEXC
GMX
BloFingTrade (Gains Network)0.1298+0.227%
Aster0.1298+0.232%KuCoin0.1298+0.232%Bitget0.1298+0.232%BingX0.1298+0.232%OKX0.1298+0.239%Binance0.1298+0.247%Gate0.1298+0.255%Kraken Futures0.1299+0.272%dYdX0.1299+0.288%Lighter0.1299+0.293%ApeX Omni0.1299+0.309%
Aster
KuCoin
Bitget
BingX
OKX
Binance
Gate
Kraken Futures
dYdX
Lighter
ApeX OmniHyperliquid0.1300+0.371%
OP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International OP-PERP-INTX | −0.227% | −0.0416% | 1h | $28K | $97K | 50x | as long as short |
| Variational Omni OP | −0.181% | −0.0056% | 8h | $235K | $36K | — | as long as short |
| Aevo OP-PERP | −0.111% | +0.0056% | 1h | $4K | — | 3x | as long as short |
| Bybit OPUSDT | −0.096% | +0.0017% | 8h | $18.2M | $26.2M | 75x | as long as short |
| edgeX OPUSDC | −0.095% | +0.0100% | 4h | $4K | $406K | 10x | as long as short |
| Orderly PERP_OP_USDC | −0.072% | −0.0056% | 8h | $7K | $51K | 10x | as long as short |
| Injective OP/USDC PERP | −0.072% | +0.0033% | 1h | $25K | $185K | 12x | as long as short |
| SoDEX OP-USD | −0.072% | +0.0100% | 1h | $179 | $5K | 5x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.072% | −0.0520% | 1h | $44K | $188K | 25x | as long as short |
| Reya OPRUSDPERP | −0.057% | +0.0429% | 1h | $721 | — | 20x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Backpack OP_USDC_PERP | −0.057% | +0.0100% | 1h | $136K | $152K | 10x | as long as short |
| Extended OP-USD | −0.052% | −0.0104% | 1h | $105K | $208K | 25x | as long as short |
| HTX OP-USDT | −0.049% | +0.0100% | 8h | $190K | $211K | 50x | as long as short |
| MEXC OP_USDT | −0.042% | −0.0106% | 8h | $20.1M | $8.6M | 300x | as long as short |
| GMX OP/USD [OP-USDC] | −0.035% | L −0.1208% / S +0.0249% | 1h | $14K | — | 100x | as long as short |
| BloFin OP-USDT | −0.026% | +0.0014% | 8h | $1.1M | $573K | 75x | as long as short |
| gTrade (Gains Network) OP/USDlong | 0.000% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | |
| Aster OPUSDT | +0.005% | +0.0100% | 8h | $201K | $418K | 10x | as long as short |
| KuCoin OPUSDTM | +0.005% | +0.0100% | 8h | $2.9M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.005% | +0.0100% | 8h | $6.1M | $5.7M | 75x | as long as short |
| BingX OP-USDC | +0.005% | +0.0100% | 8h | — | $1.6M | — | as long as short |
| OKX OP-USDT-SWAP | +0.012% | +0.0068% | 8h | $6.2M | $31.2M | 50x | as long as short |
| Binance OPUSDT | +0.020% | −0.0106% | 8h | $21.2M | $61.5M | 75x | as long as short |
| Gate OP_USDT | +0.028% | +0.0100% | 8h | $1.8M | $1.7M | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.045% | +0.0231% | 1h | $801K | $639K | 20x | as long as short |
| dYdX OP-USD | +0.061% | 0.0000% | 1h | $40K | $10 | 10x | as long as short |
| Lighter OP | +0.066% | +0.0096% | 1h | $299K | $333K | 15x | as long as short |
| ApeX Omni OPUSDT | +0.082% | +0.0100% | 1h | $47K | $704K | 50x | as long as short |
| Hyperliquid OPshort | +0.143% | +0.0251% | 1h | $4.2M | $2.9M | 5x |