Spread before costs (cost unknown: a leg has no order-book sample)+0.171%
7d average—if it closes, per $10,000$17funding while held, a day+$7.14
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) OP/USD | 0.1257 | L +0.0005% / S −0.0004% | pay 0.0001% / 1h | 35m 35s | $1K | — | 150x |
| Short | Kraken Futures PF_OPUSD | 0.1259 | 0.0243 | get 0.0030% / 1h | 35m 35s | $776K | $655K | 20x |
gTrade (Gains Network) OP/USD
Kraken Futures PF_OPUSDPrice 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
- $17.07
- Funding while held
- $7.14
- Slippage, 4 orders
- no order book: not counted
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $4.21
- Spread needed to break even
- 0.200%
Slippage unknown: gTrade (Gains Network): no order-book sample; Kraken Futures: live order book, 14 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0238%
- Per $10,000 a day
- +$7.14
- 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 Kraken Futures live order book, 14 min ago | 20.77 bp | 34.6 bp −$35 | 87.4 bp −$874 | 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.Extended0.1255cheapestBingX0.1255+0.044%Bybit0.1255+0.060%OKX0.1256+0.108%Variational Omni0.1256+0.110%Gate0.1256+0.116%Bitget0.1256+0.116%Reya0.1256+0.150%Aevo0.1257+0.158%HTX0.1257+0.163%Binance0.1257+0.171%MEXC0.1257+0.187%
Extended
BingX
Bybit
OKX
Variational Omni
Gate
Bitget
Reya
Aevo
HTX
Binance
MEXCgTrade (Gains Network)0.1257+0.195%
Orderly0.1257+0.195%GMX0.1257+0.216%SoDEX0.1257+0.219%Lighter0.1257+0.227%dYdX0.1258+0.269%ApeX Omni0.1258+0.275%Deribit0.1258+0.275%Coinbase International0.1258+0.275%edgeX0.1258+0.276%Backpack0.1258+0.291%BloFin0.1258+0.299%KuCoin0.1259+0.355%
Orderly
GMX
SoDEX
Lighter
dYdX
ApeX Omni
Deribit
Coinbase International
Backpack
BloFin
KuCoinKraken Futures0.1259+0.366%
Aster0.1259+0.367%Hyperliquid0.1259+0.379%Injective0.1276+1.710%
Aster
Hyperliquid
InjectiveOP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Extended OP-USD | −0.195% | −0.0128% | 1h | $101K | $214K | 25x | as long as short |
| BingX OP-USDT | −0.151% | +0.0100% | 8h | — | $7.0M | — | as long as short |
| Bybit OPUSDT | −0.135% | +0.0016% | 8h | $17.5M | $27.8M | 75x | as long as short |
| OKX OP-USDT-SWAP | −0.088% | +0.0035% | 8h | $6.0M | $32.7M | 50x | as long as short |
| Variational Omni OP | −0.085% | −0.0066% | 8h | $231K | $46K | — | as long as short |
| Gate OP_USDT | −0.080% | +0.0100% | 8h | $1.7M | $1.7M | 50x | as long as short |
| Bitget OPUSDT | −0.080% | +0.0100% | 8h | $5.8M | $6.2M | 75x | as long as short |
| Reya OPRUSDPERP | −0.046% | +0.0431% | 1h | $699 | — | 20x | as long as short |
| Aevo OP-PERP | −0.037% | +0.0048% | 1h | $4K | — | 3x | as long as short |
| HTX OP-USDT | −0.032% | +0.0100% | 8h | $186K | $250K | 50x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Binance OPUSDT | −0.024% | −0.0123% | 8h | $20.9M | $66.8M | 75x | as long as short |
| MEXC OP_USDT | −0.008% | −0.0124% | 8h | $20.0M | $8.7M | 300x | as long as short |
| gTrade (Gains Network) OP/USDlong | 0.000% | L +0.0005% / S −0.0004% | 1h | $1K | — | 150x | |
| Orderly PERP_OP_USDC | 0.000% | −0.0078% | 8h | $6K | $53K | 10x | as long as short |
| GMX OP/USD [OP-USDC] | +0.021% | L −0.1469% / S +0.0291% | 1h | $13K | — | 100x | as long as short |
| SoDEX OP-USD | +0.024% | +0.0100% | 1h | $181 | $5K | 5x | as long as short |
| Lighter OP | +0.032% | +0.0096% | 1h | $294K | $830K | 15x | as long as short |
| dYdX OP-USD | +0.074% | 0.0000% | 1h | $39K | $10 | 10x | as long as short |
| ApeX Omni OPUSDT | +0.080% | +0.0100% | 1h | $45K | $716K | 50x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.080% | 0.0000% | 1h | $47K | $200K | 25x | as long as short |
| Coinbase International OP-PERP-INTX | +0.080% | −0.0296% | 1h | $27K | $84K | 50x | as long as short |
| edgeX OPUSDC | +0.081% | +0.0100% | 4h | $9K | $379K | 10x | as long as short |
| Backpack OP_USDC_PERP | +0.095% | +0.0100% | 1h | $130K | $174K | 10x | as long as short |
| BloFin OP-USDT | +0.103% | −0.0006% | 8h | $1.1M | $579K | 75x | as long as short |
| KuCoin OPUSDTM | +0.159% | +0.0100% | 8h | $2.8M | $7.0M | 75x | as long as short |
| Kraken Futures PF_OPUSDshort | +0.171% | +0.0243% | 1h | $776K | $655K | 20x | |
| Aster OPUSDT | +0.172% | +0.0100% | 8h | $208K | $454K | 10x | as long as short |
| Hyperliquid OP | +0.183% | +0.0100% | 1h | $3.9M | $3.2M | 5x | as long as short |
| Injective OP/USDC PERP | +1.512% | +0.0248% | 1h | $25K | $184K | 12x | as long as short |