Funding you earn now, next payment 08:00 UTC−0.0118%/8h= −12.9% APRnext payment −$1.18 per $10,000 · paid last 24h −0.032%
Price spread now: Orderly against KuCoin−0.080%7-day average −0.004% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.127%−$13 on $10k
+Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.080%, 7d avg −0.004%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.076% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.004%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin OPUSDTM | 0.1257 | 0.0066 | pay 0.0066% / 8h | 1h 25m | $2.8M | $6.3M | 75x |
| Short | Orderly PERP_OP_USDC | 0.1256 | −0.0052 | pay 0.0052% / 8h | 1h 25m | $59K | $177K | 10x |
KuCoin OPUSDTM
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against KuCoin. 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
- −$24.79
- Price spread: −0.080% → −0.004%
- −$7.57
- Slippage, 4 orders
- no order book: not counted
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$50.36
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: KuCoin: live order book, 3 min ago; Orderly: 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 KuCoin live order book, 3 min ago | 4.00 bp | 40.3 bp −$40 | 91.5 bp −$915 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | 0.1251 | −0.477% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.0898% / S +0.0202% | 1h | 0.1250 | −0.523% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDCshort | −0.0052% | 8h | 0.1256 | −0.080% | $59K | $177K | 10x | |
| Kraken Futures PF_OPUSD | −0.0034% | 1h | 0.1258 | +0.104% | $757K | $666K | 20x | as long as short |
| Variational Omni OP | −0.0006% | 8h | 0.1255 | −0.133% | $222K | $46K | — | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1259 | +0.158% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1257 | 0.000% | $32K | $154K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0005% / S −0.0004% | 1h | 0.1256 | −0.080% | $8K | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1259 | +0.159% | $24K | $64K | 50x | as long as short |
| Bybit OPUSDT | +0.0066% | 8h | 0.1257 | −0.024% | $18.4M | $26.1M | 75x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Kraken Futures PF_OPUSD
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 OPUSDTMlong | +0.0066% | 8h | 0.1257 | long leg | $2.8M | $6.3M | 75x | |
| OKX OP-USDT-SWAP | +0.0079% | 8h | 0.1256 | −0.072% | $6.1M | $29.6M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1258 | +0.048% | $276K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1256 | −0.072% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1258 | +0.052% | $207K | $211K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1257 | −0.002% | $19.8M | $67.1M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1259 | +0.127% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1257 | −0.024% | $22.5M | $8.0M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1257 | 0.000% | $5.7M | $6.8M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1256 | −0.080% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1256 | −0.111% | $113K | $218K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1250 | −0.565% | $379K | $765K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1250 | −0.528% | $304K | $5.3M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1250 | −0.557% | $43K | $700K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1257 | −0.032% | $204 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1258 | +0.080% | $170K | $255K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1256 | −0.080% | $102K | $510K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1257 | −0.016% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1257 | −0.032% | $1.0M | $325K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1256 | −0.040% | $699 | — | 20x | as long as short |
OKX OP-USDT-SWAP
Lighter OP
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDC
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