OP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Hyperliquid−0.085%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.085% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid OP	0.1266	0.0100	pay 0.0013% / 1h	1m 34s	$3.7M	$2.7M	5x
Short	gTrade (Gains Network) OP/USD	0.1265	L +0.0004% / S −0.0004%	get 0.0000% / 1h	1m 34s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.085%Rate

Funding earned: −$20.17
Price spread: −0.085% → 0.000%: −$8.53
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$47.71
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; gTrade (Gains Network): no order-book sample. 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 Hyperliquid live order book, 10 min ago	1.59 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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 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	−0.1568%	1h	0.1253	−1.019%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1265	−0.060%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1266	−0.010%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	−0.071%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1265	−0.085%	—	—	150x
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1270	+0.324%	$25K	$56K	50x	as long as short
Variational Omni OP	+0.0040%	8h	0.1261	−0.416%	$223K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1264	−0.150%	$6K	$47K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0057%	1h	0.1265	−0.047%	$775K	$548K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1266	+0.024%	$276K	$950K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OPlong	+0.0100%	1h	0.1266	long leg	$3.7M	$2.7M	5x
Aster OPUSDT	+0.0100%	8h	0.1266	+0.002%	$211K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1265	−0.041%	$20.4M	$61.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1265	−0.103%	$18.6M	$24.9M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1265	−0.047%	$6.2M	$28.5M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1266	0.000%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1265	−0.039%	$21.6M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1265	−0.071%	$2.8M	$6.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1265	−0.071%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1266	+0.008%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	−0.134%	$119K	$205K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1259	−0.514%	$4K	$387K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1260	−0.466%	$308K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1259	−0.545%	$43K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1264	−0.118%	$194	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1263	−0.197%	$171K	$229K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1265	−0.064%	$101K	$484K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	−0.071%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1262	−0.316%	$1.0M	$278K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1263	−0.213%	$702	—	20x	as long as short