Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.061%
Price spread now: Deribit against Gate+0.040%7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$71as in the Price arb table
costs, in and out, $10k−$740.743% of the position
Funding, last 7 days−0.137%−$14 on $10k
+Price spread, last 4 days (all we have)+0.081%+$8 · spread now +0.040%, 7d avg +0.002%
=The price spread pays, funding is against you. Deribit is 0.038% dearer against Gate than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of +0.002%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate OP_USDT | 0.1253 | 0.0100 | pay 0.0100% / 8h | 2h 15m | $2.0M | $1.5M | 50x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1253 | 0 | get 0.0000% / 1h | 15m 16s | $30K | $151K | 25x |
Gate OP_USDT
Deribit OP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Gate. 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
- Price spread: +0.040% → +0.002%
- $3.76
- Slippage, 4 orders
- −$52.31
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$91.55
- Costs to cover
- 0.743%
- Break-even
- never at this rate
Slippage from Gate: live order book, 2 min ago; Deribit: live order book, 33 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 Gate live order book, 2 min ago | 3.19 bp | 28.1 bp −$28 | 70.3 bp −$703 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 33 min ago | 3.93 bp | 15.3 bp −$15 | 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 | −0.1583% | 1h | 0.1248 | −0.359% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1253 | +0.052% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1252 | −0.001% | $39K | $532 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALshort | 0.0000% | 1h | 0.1253 | +0.040% | $30K | $151K | 25x | |
| Orderly PERP_OP_USDC | +0.0003% | 8h | 0.1252 | −0.040% | $59K | $142K | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1253 | +0.046% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0007% | 8h | 0.1250 | −0.180% | $222K | $46K | — | as long as short |
| Bybit OPUSDT | +0.0073% | 8h | 0.1253 | +0.024% | $18.4M | $25.6M | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0074% | 1h | 0.1254 | +0.156% | $755K | $630K | 20x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1253 | +0.072% | $275K | $1.0M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Orderly PERP_OP_USDC
gTrade (Gains Network) OP/USD
Variational Omni OP
Bybit OPUSDT
Kraken Futures PF_OPUSD
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX OP-USDT-SWAP | +0.0099% | 8h | 0.1254 | +0.104% | $6.1M | $29.0M | 50x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1253 | +0.024% | $3.4M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1253 | +0.057% | $205K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1253 | +0.072% | $19.7M | $64.3M | 75x | as long as short |
| Gate OP_USDTlong | +0.0100% | 8h | 0.1253 | long leg | $2.0M | $1.5M | 50x | |
| MEXC OP_USDT | +0.0100% | 8h | 0.1252 | −0.016% | $22.8M | $7.7M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1251 | −0.120% | $2.8M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1253 | +0.040% | $5.8M | $6.6M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1253 | +0.040% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1250 | −0.168% | $105K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1253 | +0.038% | $380K | $768K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1254 | +0.120% | $309K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1254 | +0.120% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1253 | +0.032% | $202 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1251 | −0.096% | $173K | $244K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1252 | −0.017% | $101K | $506K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1253 | 0.000% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1243 | −0.758% | $26K | $59K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1253 | 0.000% | $986K | $306K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1252 | −0.069% | $696 | — | 20x | as long as short |
OKX OP-USDT-SWAP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
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
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP