Funding you earn now, next payment 07:00 UTC+0.0864%/8h= +94.6% APRnext payment +$1.08 per $10,000 · paid last 24h +0.396%
Price spread now: Kraken Futures against GMX+0.176%66s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Kraken Futures is 0.176% dearer against GMX than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX OP/USD [OP-USDC] | 0.1250 | L −0.0898% / S +0.0202% | get 0.0112% / 1h | 27m 24s | $13K | — | 100x |
| Short | Kraken Futures PF_OPUSD | 0.1252 | −0.0034 | pay 0.0004% / 1h | 27m 24s | $749K | $656K | 20x |
GMX OP/USD [OP-USDC]
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against GMX. 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
- $181.46
- Price spread: +0.176% → 0.000%
- $17.63
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $177.09
- Costs to cover
- 0.220%
- Break-even
- 0.2 days
Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 16 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 16 min ago | 9.88 bp | 27.2 bp −$27 | 95.2 bp −$952 | doesn't fit | doesn't fit |
GMX: 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 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 | −0.1760% | 1h | 0.1246 | −0.286% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC]long | L −0.0898% / S +0.0202% | 1h | 0.1250 | long leg | $13K | — | 100x | |
| Orderly PERP_OP_USDC | −0.0051% | 8h | 0.1249 | −0.046% | $59K | $177K | 10x | as long as short |
| Kraken Futures PF_OPUSDshort | −0.0034% | 1h | 0.1252 | +0.176% | $749K | $656K | 20x | |
| Variational Omni OP | −0.0014% | 8h | 0.1259 | +0.741% | $222K | $46K | — | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1251 | +0.097% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1250 | +0.034% | $32K | $154K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1250 | +0.012% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1253 | +0.274% | $24K | $63K | 50x | as long as short |
| Bybit OPUSDT | +0.0061% | 8h | 0.1249 | −0.038% | $18.3M | $26.0M | 75x | as long as short |
Injective OP/USDC PERP
Orderly PERP_OP_USDC
Variational Omni OP
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTX
Bybit OPUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin OPUSDTM | +0.0063% | 8h | 0.1249 | −0.046% | $2.8M | $6.3M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0076% | 8h | 0.1250 | +0.010% | $6.1M | $29.4M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1251 | +0.098% | $275K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1251 | +0.106% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1250 | +0.066% | $207K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1250 | +0.051% | $19.7M | $66.8M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1251 | +0.098% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1250 | +0.074% | $22.4M | $8.0M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1249 | −0.046% | $5.7M | $6.8M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1250 | +0.026% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1249 | −0.038% | $107K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1253 | +0.313% | $380K | $769K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1259 | +0.734% | $310K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1255 | +0.435% | $43K | $700K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1250 | +0.066% | $203 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1249 | −0.022% | $169K | $253K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1249 | −0.029% | $102K | $510K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1250 | −0.006% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1251 | +0.090% | $992K | $324K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1251 | +0.122% | $696 | — | 20x | as long as short |
KuCoin OPUSDTM
OKX OP-USDT-SWAP
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDT
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
BloFin OP-USDT
Reya OPRUSDPERP