data as of
Settings8H · net · $10k
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Price arb /

OP

all OP markets
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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−$50
spread now−0.155%7d average−0.012%fees + slippage, in and out−$36spread needed0.357%
Long on LighterShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter OP0.12910.0832pay 0.0104% / 1h57m 12s$371K$738K15x
ShortHyperliquid OP0.12890.0100get 0.0013% / 1h57m 12s$4.1M$3.0M5x

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
−$15.49
Funding while held
−$21.96
Slippage, 4 orders
−$26.66
Fee Lighter: 0 bp × 2 orders
$0
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$73.11
Spread needed to break even
0.357%
Slippage from Lighter: live order book, 54 min ago; Hyperliquid: live order book, 6 min ago.

Cost of waiting

funding view
Funding /8h
−0.0732%
Per $10,000 a day
−$21.96
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 Lighter live order book, 54 min ago5.35 bp8.1 bp −$838.9 bp −$389doesn't fitdoesn't fit
Sell Hyperliquid live order book, 6 min ago1.16 bp8.6 bp −$9doesn't fitdoesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International0.1284cheapestExtended0.1287+0.239%Aevo0.1287+0.249%Reya0.1287+0.257%Bybit0.1288+0.273%BloFin0.1288+0.273%dYdX0.1288+0.283%Variational Omni0.1288+0.288%MEXC0.1288+0.288%BingX0.1288+0.296%SoDEX0.1288+0.296%HTX0.1288+0.296%Binance0.1288+0.298%Gate0.1288+0.312%KuCoin0.1288+0.312%Bitget0.1288+0.312%Orderly0.1288+0.312%Deribit0.1288+0.312%Backpack0.1288+0.319%OKX0.1288+0.350%gTrade (Gains Network)0.1289+0.351%GMX0.1289+0.375%Aster0.1289+0.380%
Hyperliquid0.1289+0.389%
Kraken Futures0.1289+0.424%edgeX0.1290+0.449%
Lighter0.1291+0.545%
ApeX Omni0.1291+0.545%Injective0.1297+1.012%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International OP-PERP-INTX−0.542%−0.0328%1h$28K$87K50xas long as short
Extended OP-USD−0.304%−0.0136%1h$103K$217K25xas long as short
Aevo OP-PERP−0.294%+0.0048%1h$4K—3xas long as short
Reya OPRUSDPERP−0.287%+0.0430%1h$716—20xas long as short
Bybit OPUSDT−0.271%+0.0011%8h$18.2M$26.8M75xas long as short
BloFin OP-USDT−0.271%−0.0015%8h$1.0M$583K75xas long as short
dYdX OP-USD−0.260%0.0000%1h$40K$1010xas long as short
Variational Omni OP−0.256%−0.0060%8h$236K$39K—as long as short
MEXC OP_USDT−0.256%−0.0133%8h$19.9M$8.6M300xas long as short
BingX OP-USDT−0.248%+0.0100%8h—$6.4M—as long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SoDEX OP-USD−0.248%−0.0014%1h$173$5K5xas long as short
HTX OP-USDT−0.248%+0.0100%8h$191K$228K50xas long as short
Binance OPUSDT−0.246%−0.0135%8h$20.9M$63.8M75xas long as short
Gate OP_USDT−0.232%+0.0100%8h$1.8M$1.6M50xas long as short
KuCoin OPUSDTM−0.232%+0.0100%8h$3.0M$6.6M75xas long as short
Bitget OPUSDT−0.232%+0.0100%8h$6.0M$6.1M75xas long as short
Orderly PERP_OP_USDC−0.232%−0.0067%8h$7K$51K10xas long as short
Deribit OP_USDC-PERPETUAL−0.232%−0.0526%1h$40K$212K25xas long as short
Backpack OP_USDC_PERP−0.225%+0.0100%1h$134K$161K10xas long as short
OKX OP-USDT-SWAP−0.194%+0.0079%8h$6.3M$31.8M50xas long as short
gTrade (Gains Network) OP/USD−0.193%L +0.0005% / S −0.0004%1h$1K—150xas long as short
GMX OP/USD [OP-USDC]−0.169%L −0.1208% / S +0.0249%1h$13K—100xas long as short
Aster OPUSDT−0.164%+0.0100%8h$203K$438K10xas long as short
Hyperliquid OPshort−0.155%+0.0100%1h$4.1M$3.0M5x
Kraken Futures PF_OPUSD−0.121%+0.0141%1h$790K$660K20xas long as short
edgeX OPUSDC−0.096%+0.0100%4h$4K$407K10xas long as short
Lighter OPlong0.000%+0.0832%1h$371K$738K15x
ApeX Omni OPUSDT0.000%+0.0100%1h$46K$704K50xas long as short
Injective OP/USDC PERP+0.465%+0.0033%1h$25K$185K12xas long as short