data as of
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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.

Spread before costs (cost unknown: a leg has no order-book sample)+0.071%
7d average−0.077%if it closes, per $10,000$7funding while held, a day−$6.54
Long on LighterShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter OP0.12610.0096pay 0.0012% / 1h20m 16s$282K$900K15x
ShortVariational Omni OP0.1261−0.0122pay 0.0122% / 8h7h 20m$233K$43K—

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
$7.09
Funding while held
−$6.54
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$0.55
Spread needed to break even
0.000%
Slippage unknown: Lighter: live order book, 17 min ago; Variational Omni: RFQ quote, 25 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0218%
Per $10,000 a day
−$6.54
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, 17 min ago4.72 bp6.2 bp −$646.4 bp −$464doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 25 min ago3.97 bpdoesn't fit19.8 bp −$198doesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Bybit0.1257cheapestExtended0.1258+0.080%Reya0.1258+0.083%BingX0.1258+0.088%OKX0.1258+0.095%Gate0.1258+0.095%Binance0.1258+0.099%MEXC0.1258+0.111%Bitget0.1258+0.111%Orderly0.1258+0.111%SoDEX0.1258+0.135%GMX0.1259+0.164%KuCoin0.1259+0.191%gTrade (Gains Network)0.1259+0.191%Deribit0.1259+0.191%Aevo0.1259+0.193%Kraken Futures0.1260+0.237%dYdX0.1260+0.249%Aster0.1260+0.278%Hyperliquid0.1260+0.294%
Lighter0.1261+0.318%
Coinbase International0.1261+0.350%
Variational Omni0.1261+0.389%
BloFin0.1262+0.390%HTX0.1263+0.493%Backpack0.1263+0.501%edgeX0.1267+0.836%ApeX Omni0.1268+0.907%Injective0.1276+1.544%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bybit OPUSDT−0.317%−0.0361%8h$17.8M$27.5M75xas long as short
Extended OP-USD−0.237%−0.0024%1h$101K$208K25xas long as short
Reya OPRUSDPERP−0.234%+0.0432%1h$699—20xas long as short
BingX OP-USDT−0.230%+0.0100%8h—$6.9M—as long as short
OKX OP-USDT-SWAP−0.222%+0.0026%8h$6.0M$33.0M50xas long as short
Gate OP_USDT−0.222%+0.0100%8h$1.8M$1.6M50xas long as short
Binance OPUSDT−0.219%−0.0020%8h$20.6M$68.7M75xas long as short
MEXC OP_USDT−0.206%−0.0020%8h$20.1M$8.8M300xas long as short
Bitget OPUSDT−0.206%+0.0100%8h$6.0M$6.4M75xas long as short
Orderly PERP_OP_USDC−0.206%−0.0074%8h$6K$53K10xas long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SoDEX OP-USD−0.182%+0.0100%1h$183$6K5xas long as short
GMX OP/USD [OP-USDC]−0.154%L −0.1162% / S +0.0245%1h$13K—100xas long as short
KuCoin OPUSDTM−0.127%+0.0100%8h$2.9M$7.4M75xas long as short
gTrade (Gains Network) OP/USD−0.127%L +0.0004% / S −0.0004%1h——150xas long as short
Deribit OP_USDC-PERPETUAL−0.127%0.0000%1h$47K$200K25xas long as short
Aevo OP-PERP−0.125%+0.0080%1h$4K—3xas long as short
Kraken Futures PF_OPUSD−0.081%+0.0473%1h$782K$678K20xas long as short
dYdX OP-USD−0.069%0.0000%1h$39K$1010xas long as short
Aster OPUSDT−0.040%+0.0100%8h$212K$465K10xas long as short
Hyperliquid OP−0.024%+0.0100%1h$3.9M$3.3M5xas long as short
Lighter OPlong0.000%+0.0096%1h$282K$900K15x
Coinbase International OP-PERP-INTX+0.032%−0.0304%1h$22K$85K50xas long as short
Variational Omni OPshort+0.071%−0.0122%8h$233K$43K—
BloFin OP-USDT+0.071%+0.0100%8h$1.0M$581K75xas long as short
HTX OP-USDT+0.175%+0.0100%8h$180K$270K50xas long as short
Backpack OP_USDC_PERP+0.182%+0.0100%1h$136K$187K10xas long as short
edgeX OPUSDC+0.516%+0.0100%4h$9K$378K10xas long as short
ApeX Omni OPUSDT+0.587%+0.0100%1h$45K$712K50xas long as short
Injective OP/USDC PERP+1.222%+0.0033%1h$25K$184K12xas long as short