Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.40 per $10,000 · paid last 24h −0.027%
Price spread now: OKX against Gate−0.047%7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$68as in the Price arb table
costs, in and out, $10k−$640.642% of the position
Funding, last 7 days+0.064%+$6 on $10k
+Price spread, last 7 days+0.140%+$14 · spread now −0.047%, 7d avg −0.005%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.042% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.064%, 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 | Gate OP_USDT | 0.1265 | 0.0100 | pay 0.0100% / 8h | 6h 01m | $2.0M | $1.6M | 50x |
| Short | OKX OP-USDT-SWAP | 0.1264 | 0.0060 | get 0.0060% / 8h | 6h 01m | $6.1M | $29.3M | 50x |
Gate OP_USDT
OKX OP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$8.38
- Price spread: −0.047% → −0.005%
- −$4.23
- Slippage, 4 orders
- −$39.25
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$76.86
- Costs to cover
- 0.642%
- Break-even
- never at this rate
Slippage from Gate: live order book, 1 min ago; OKX: live order book, 2 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, 1 min ago | 2.76 bp | 20.1 bp −$20 | 51.7 bp −$517 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.40 bp | 10.2 bp −$10 | 29.4 bp −$294 | doesn't fit | doesn't fit |
OP on 29 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 | −0.1535% | 1h | 0.1258 | −0.553% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1265 | +0.009% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0184% | 1h | 0.1279 | +1.107% | $25K | $72K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1265 | −0.012% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1266 | +0.079% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1265 | −0.024% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0053% | 8h | 0.1264 | −0.079% | $6K | $46K | 10x | as long as short |
| Variational Omni OP | +0.0054% | 8h | 0.1259 | −0.440% | $223K | $50K | — | as long as short |
| OKX OP-USDT-SWAPshort | +0.0060% | 8h | 0.1264 | −0.047% | $6.1M | $29.3M | 50x | |
| Lighter OP | +0.0096% | 1h | 0.1265 | +0.024% | $281K | $949K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1265 | +0.040% | $3.7M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | −0.007% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1265 | −0.017% | $20.3M | $61.0M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1264 | −0.111% | $18.4M | $25.5M | 75x | as long as short |
| Gate OP_USDTlong | +0.0100% | 8h | 0.1265 | long leg | $2.0M | $1.6M | 50x | |
| MEXC OP_USDT | +0.0100% | 8h | 0.1265 | 0.000% | $20.7M | $7.5M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1264 | −0.079% | $2.9M | $6.8M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1265 | 0.000% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1264 | −0.079% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1265 | +0.008% | $121K | $197K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1264 | −0.086% | $4K | $389K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1263 | −0.120% | $311K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1265 | 0.000% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1265 | −0.008% | $186 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1265 | −0.008% | $175K | $221K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1265 | −0.024% | $101K | $392K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1265 | −0.040% | $3K | $1K | 3x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1264 | −0.062% | $703 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0461% | 1h | 0.1266 | +0.080% | $799K | $583K | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit 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
Reya OPRUSDPERP
Kraken Futures PF_OPUSD