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−$28
spread now+0.008%7d average−0.015%fees + slippage, in and out−$31spread needed0.306%
Long on MEXCShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC OP_USDT0.1291−0.0115get 0.0115% / 8h3h 32m$20.6M$8.2M300x
ShortHyperliquid OP0.12910.0100get 0.0013% / 1h32m 56s$4.2M$2.2M5x

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
$0.77
Funding while held
$6.45
Slippage, 4 orders
−$21.55
Fee MEXC: 0 bp × 2 orders
$0
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$23.33
Spread needed to break even
0.306%
Slippage from MEXC: live order book, 2 min ago; Hyperliquid: live order book, 10 min ago.

Cost of waiting

funding view
Funding /8h
+0.0215%
Per $10,000 a day
+$6.45
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 MEXC live order book, 2 min ago0.78 bp3.3 bp −$312.9 bp −$12962.7 bp −$6,268122.0 bp −$61.0K
Sell Hyperliquid live order book, 10 min ago1.55 bp9.9 bp −$1026.9 bp −$269doesn't fitdoesn't fit

OP price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International0.1280cheapestVariational Omni0.1286+0.446%edgeX0.1288+0.616%dYdX0.1289+0.684%ApeX Omni0.1289+0.703%Orderly0.1289+0.703%Aevo0.1289+0.703%BloFin0.1289+0.719%Bybit0.1289+0.734%Reya0.1289+0.737%SoDEX0.1290+0.781%Deribit0.1290+0.781%Gate0.1290+0.805%BingX0.1290+0.805%Aster0.1290+0.816%gTrade (Gains Network)0.1291+0.832%OKX0.1291+0.836%HTX0.1291+0.836%Binance0.1291+0.836%Backpack0.1291+0.852%Extended0.1291+0.858%KuCoin0.1291+0.859%Bitget0.1291+0.859%GMX0.1291+0.866%
MEXC0.1291+0.883%
Hyperliquid0.1291+0.891%
Kraken Futures0.1291+0.891%Lighter0.1292+0.930%Injective0.1297+1.328%

OP on 29 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International OP-PERP-INTX−0.875%−0.0408%1h$27K$91K50xas long as short
Variational Omni OP−0.433%−0.0030%8h$234K$35K—as long as short
edgeX OPUSDC−0.265%+0.0100%4h$4K$403K10xas long as short
dYdX OP-USD−0.197%0.0000%1h$40K$1010xas long as short
ApeX Omni OPUSDT−0.178%+0.0100%1h$46K$704K50xas long as short
Orderly PERP_OP_USDC−0.178%−0.0062%8h$7K$50K10xas long as short
Aevo OP-PERP−0.178%+0.0056%1h$4K—3xas long as short
BloFin OP-USDT−0.163%+0.0003%8h$1.0M$547K75xas long as short
Bybit OPUSDT−0.147%+0.0055%8h$17.9M$25.6M75xas long as short
Reya OPRUSDPERP−0.144%+0.0428%1h$717—20xas long as short
Show all 29 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SoDEX OP-USD−0.101%−0.0020%1h$166$5K5xas long as short
Deribit OP_USDC-PERPETUAL−0.101%−0.0525%1h$45K$186K25xas long as short
Gate OP_USDT−0.077%+0.0100%8h$1.8M$1.7M50xas long as short
BingX OP-USDT−0.077%+0.0100%8h—$6.0M—as long as short
Aster OPUSDT−0.067%+0.0100%8h$200K$412K10xas long as short
gTrade (Gains Network) OP/USD−0.050%L +0.0004% / S −0.0004%1h——150xas long as short
OKX OP-USDT-SWAP−0.046%+0.0011%8h$6.3M$30.2M50xas long as short
HTX OP-USDT−0.046%+0.0100%8h$189K$211K50xas long as short
Binance OPUSDT−0.046%−0.0117%8h$20.8M$58.8M75xas long as short
Backpack OP_USDC_PERP−0.031%+0.0100%1h$144K$147K10xas long as short
Extended OP-USD−0.025%−0.0120%1h$103K$206K25xas long as short
KuCoin OPUSDTM−0.023%+0.0100%8h$2.9M$6.1M75xas long as short
Bitget OPUSDT−0.023%+0.0100%8h$6.0M$5.5M75xas long as short
GMX OP/USD [OP-USDC]−0.017%L −0.1208% / S +0.0249%1h$13K—100xas long as short
MEXC OP_USDTlong0.000%−0.0115%8h$20.6M$8.2M300x
Hyperliquid OPshort+0.008%+0.0100%1h$4.2M$2.2M5x
Kraken Futures PF_OPUSD+0.008%+0.0111%1h$794K$583K20xas long as short
Lighter OP+0.046%+0.0096%1h$294K$324K15xas long as short
Injective OP/USDC PERP+0.441%+0.0033%1h$25K$185K12xas long as short