data as of
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Price arb /

OP

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k+$51
spread now+1.552%7d average−0.140%fees + slippage, in and out−$118spread needed1.183%
Long on HyperliquidShort on Injective
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid OP0.12570.0100pay 0.0013% / 1h18m 06s$3.9M$3.3M5x
ShortInjective OP/USDC PERP0.12760.0248get 0.0031% / 1h18m 06s$25K$184K12x

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
$155.19
Funding while held
$4.44
Slippage, 4 orders
−$109.24
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$41.37
Spread needed to break even
1.183%
Slippage from Hyperliquid: live order book, 5 min ago; Injective: live order book, 32 min ago.

Cost of waiting

funding view
Funding /8h
+0.0148%
Per $10,000 a day
+$4.44
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 Hyperliquid live order book, 5 min ago1.99 bp11.5 bp −$12doesn't fitdoesn't fitdoesn't fit
Sell Injective live order book, 32 min ago35.34 bp35.3 bp −$35doesn't fitdoesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International0.1248cheapestApeX Omni0.1252+0.321%Variational Omni0.1252+0.324%edgeX0.1253+0.420%Reya0.1253+0.431%Extended0.1254+0.511%GMX0.1254+0.513%BloFin0.1255+0.529%Bybit0.1255+0.561%KuCoin0.1255+0.561%Orderly0.1255+0.561%Deribit0.1255+0.561%HTX0.1255+0.561%gTrade (Gains Network)0.1255+0.570%Aevo0.1255+0.598%Backpack0.1256+0.609%Lighter0.1256+0.617%OKX0.1256+0.617%Aster0.1256+0.621%dYdX0.1256+0.625%MEXC0.1256+0.633%Gate0.1256+0.641%Bitget0.1256+0.641%BingX0.1256+0.641%Binance0.1256+0.657%
Hyperliquid0.1257+0.681%
Kraken Futures0.1257+0.684%SoDEX0.1257+0.697%
Injective0.1276+2.244%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International OP-PERP-INTX−0.676%−0.0296%1h$22K$91K50xas long as short
ApeX Omni OPUSDT−0.358%+0.0100%1h$45K$715K50xas long as short
Variational Omni OP−0.355%−0.0063%8h$231K$46K—as long as short
edgeX OPUSDC−0.260%+0.0100%4h$9K$380K10xas long as short
Reya OPRUSDPERP−0.248%+0.0431%1h$697—20xas long as short
Extended OP-USD−0.169%−0.0104%1h$100K$213K25xas long as short
GMX OP/USD [OP-USDC]−0.167%L −0.1440% / S +0.0291%1h$13K—100xas long as short
BloFin OP-USDT−0.151%+0.0015%8h$1.1M$582K75xas long as short
Bybit OPUSDT−0.119%+0.0028%8h$17.7M$28.2M75xas long as short
KuCoin OPUSDTM−0.119%+0.0100%8h$2.8M$7.3M75xas long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Orderly PERP_OP_USDC−0.119%−0.0077%8h$7K$54K10xas long as short
Deribit OP_USDC-PERPETUAL−0.119%0.0000%1h$47K$200K25xas long as short
HTX OP-USDT−0.119%+0.0100%8h$180K$277K50xas long as short
gTrade (Gains Network) OP/USD−0.111%L +0.0004% / S −0.0004%1h$1K—150xas long as short
Aevo OP-PERP−0.083%+0.0056%1h$4K—3xas long as short
Backpack OP_USDC_PERP−0.072%+0.0100%1h$132K$180K10xas long as short
Lighter OP−0.064%+0.0096%1h$295K$836K15xas long as short
OKX OP-USDT-SWAP−0.064%+0.0033%8h$5.9M$33.3M50xas long as short
Aster OPUSDT−0.060%+0.0100%8h$213K$468K10xas long as short
dYdX OP-USD−0.056%0.0000%1h$39K$1010xas long as short
MEXC OP_USDT−0.048%−0.0105%8h$19.9M$8.8M300xas long as short
Gate OP_USDT−0.040%+0.0100%8h$1.8M$1.8M50xas long as short
Bitget OPUSDT−0.040%+0.0100%8h$5.9M$6.5M75xas long as short
BingX OP-USDC−0.040%+0.0100%8h—$1.6M—as long as short
Binance OPUSDT−0.024%−0.0105%8h$20.9M$69.4M75xas long as short
Hyperliquid OPlong0.000%+0.0100%1h$3.9M$3.3M5x
Kraken Futures PF_OPUSD+0.003%+0.0243%1h$778K$676K20xas long as short
SoDEX OP-USD+0.016%+0.0100%1h$182$5K5xas long as short
Injective OP/USDC PERPshort+1.552%+0.0248%1h$25K$184K12x