data as of
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Price arb /

OP

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Spread before costs (cost unknown: a leg has no order-book sample)−0.102%
7d average−0.032%if it closes, per $10,000$10funding while held, a day−$5.86
Long on GateShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate OP_USDT0.12700.0100pay 0.0100% / 8h7h 31m$1.8M$1.6M50x
ShortVariational Omni OP0.1269−0.0095pay 0.0095% / 8h7h 31m$235K$46K—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$10.19
Funding while held
−$5.86
Slippage, 4 orders
no order book: not counted
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$31.06
Spread needed to break even
0.150%
Slippage unknown: Gate: live order book, 3 min ago; Variational Omni: RFQ quote, 14 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0195%
Per $10,000 a day
−$5.86
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 3 min ago6.32 bp37.2 bp −$3798.1 bp −$981doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 14 min ago3.97 bpdoesn't fit19.8 bp −$198doesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International0.1263cheapestAevo0.1267+0.277%HTX0.1267+0.285%ApeX Omni0.1267+0.317%Orderly0.1267+0.317%BloFin0.1267+0.325%SoDEX0.1268+0.356%edgeX0.1268+0.393%Deribit0.1268+0.396%Aster0.1268+0.404%GMX0.1269+0.438%
Variational Omni0.1269+0.444%
Backpack0.1269+0.459%Kraken Futures0.1270+0.538%
Gate0.1270+0.546%
BingX0.1270+0.554%Bybit0.1270+0.578%Lighter0.1270+0.586%Extended0.1270+0.593%dYdX0.1271+0.630%KuCoin0.1271+0.633%Binance0.1271+0.649%OKX0.1271+0.649%Reya0.1272+0.693%Bitget0.1272+0.713%MEXC0.1273+0.752%gTrade (Gains Network)0.1273+0.792%Hyperliquid0.1274+0.855%Injective0.1276+1.029%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International OP-PERP-INTX−0.543%−0.0304%1h$22K$91K50xas long as short
Aevo OP-PERP−0.268%+0.0072%1h$4K—3xas long as short
HTX OP-USDT−0.260%+0.0100%8h$181K$270K50xas long as short
ApeX Omni OPUSDT−0.228%+0.0100%1h$45K$713K50xas long as short
Orderly PERP_OP_USDC−0.228%−0.0075%8h$6K$53K10xas long as short
BloFin OP-USDT−0.220%+0.0091%8h$1.0M$584K75xas long as short
SoDEX OP-USD−0.189%+0.0100%1h$187$6K5xas long as short
edgeX OPUSDC−0.152%+0.0100%4h$9K$380K10xas long as short
Deribit OP_USDC-PERPETUAL−0.150%0.0000%1h$47K$200K25xas long as short
Aster OPUSDT−0.142%+0.0100%8h$214K$465K10xas long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
GMX OP/USD [OP-USDC]−0.108%L −0.1162% / S +0.0245%1h$13K—100xas long as short
Variational Omni OPshort−0.102%−0.0095%8h$235K$46K—
Backpack OP_USDC_PERP−0.087%+0.0100%1h$140K$187K10xas long as short
Kraken Futures PF_OPUSD−0.008%+0.0469%1h$788K$681K20xas long as short
Gate OP_USDTlong0.000%+0.0100%8h$1.8M$1.6M50x
BingX OP-USDC+0.008%+0.0100%8h—$1.6M—as long as short
Bybit OPUSDT+0.031%−0.0228%8h$18.0M$28.0M75xas long as short
Lighter OP+0.039%+0.0096%1h$285K$863K15xas long as short
Extended OP-USD+0.047%−0.0024%1h$101K$212K25xas long as short
dYdX OP-USD+0.083%0.0000%1h$39K$1010xas long as short
KuCoin OPUSDTM+0.087%+0.0100%8h$2.9M$7.4M75xas long as short
Binance OPUSDT+0.102%−0.0024%8h$20.8M$69.2M75xas long as short
OKX OP-USDT-SWAP+0.102%+0.0034%8h$6.0M$33.7M50xas long as short
Reya OPRUSDPERP+0.146%+0.0432%1h$707—20xas long as short
Bitget OPUSDT+0.165%+0.0100%8h$6.0M$6.5M75xas long as short
MEXC OP_USDT+0.205%−0.0026%8h$20.4M$8.8M300xas long as short
gTrade (Gains Network) OP/USD+0.244%L +0.0004% / S −0.0004%1h——150xas long as short
Hyperliquid OP+0.307%+0.0100%1h$4.0M$3.3M5xas long as short
Injective OP/USDC PERP+0.480%+0.0033%1h$25K$184K12xas long as short