OP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0138%/8h= +15.1% APRnext payment +$0.17 per $10,000 · paid last 24h −0.078%

Price spread now: Extended against Kraken Futures−0.169%7-day average −0.145% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$920.919% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.169%, 7d avg −0.145%

Together, before fees−0.047%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.024% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.169% now, against its 7-day average of −0.145%). If the spread goes back, that is −$2 on $10k: about 14 hours of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_OPUSD	0.1250	−0.0034	get 0.0004% / 1h	0m 46s	$750K	$667K	20x
Short	Extended OP-USD	0.1248	0.0104	get 0.0013% / 1h	0m 46s	$100K	$528K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. 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 Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now −0.169%Rate

Funding earned: $28.99
Price spread: −0.169% → −0.145%: −$2.44
Slippage, 4 orders: −$76.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$65.31
Costs to cover: 0.919%
Break-even: 22.8 days

Slippage from Kraken Futures: live order book, 42 min ago; Extended: live order book, 42 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 Kraken Futures live order book, 42 min ago	9.88 bp	22.3 bp −$22	157.2 bp −$1,572	doesn't fit	doesn't fit
Sell Extended live order book, 42 min ago	11.89 bp	21.2 bp −$21	145.9 bp −$1,459	doesn't fit	doesn't fit

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	0.1244	−0.450%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0898% / S +0.0202%	1h	0.1248	−0.097%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0551%	1h	0.1248	−0.130%	$32K	$154K	25x	as long as short
Orderly PERP_OP_USDC	−0.0055%	8h	0.1249	−0.050%	$12K	$236K	10x	as long as short
Kraken Futures PF_OPUSDlong	−0.0034%	1h	0.1250	long leg	$750K	$667K	20x
dYdX OP-USD	0.0000%	1h	0.1250	+0.011%	$39K	$522	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1249	−0.050%	—	—	150x	as long as short
Variational Omni OP	+0.0021%	8h	0.1248	−0.163%	$221K	$47K	—	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1251	+0.110%	$24K	$65K	50x	as long as short
KuCoin OPUSDTM	+0.0064%	8h	0.1248	−0.130%	$2.8M	$6.2M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1249	−0.082%	$274K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1249	−0.058%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1249	−0.034%	$205K	$210K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1248	−0.126%	$19.7M	$67.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1248	−0.122%	$18.3M	$26.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1249	−0.090%	$6.0M	$29.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1249	−0.058%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1248	−0.130%	$22.3M	$8.0M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1248	−0.130%	$5.6M	$6.9M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1248	−0.130%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1248	−0.130%	$115K	$220K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1250	+0.067%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1250	+0.003%	$318K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1255	+0.431%	$43K	$697K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1248	−0.138%	$210	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1249	−0.090%	$167K	$256K	50x	as long as short
Extended OP-USDshort	+0.0104%	1h	0.1248	−0.169%	$100K	$528K	25x
Aevo OP-PERP	+0.0104%	1h	0.1248	−0.123%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1248	−0.138%	$989K	$322K	75x	as long as short
Reya OPRUSDPERP	+0.0444%	1h	0.1248	−0.159%	$694	—	20x	as long as short