Funding you earn now, next payment 16:00 UTC−0.0147%/8h= −16.1% APRnext payment −$1.47 per $10,000 · paid last 24h −0.031%
Price spread now: Orderly against OKX−0.016%7-day average +0.016% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 4 days (all we have)+0.220%+$22 · spread now −0.016%, 7d avg +0.016%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.032% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.016%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX OP-USDT-SWAP | 0.1242 | 0.0100 | pay 0.0100% / 8h | 7h 27m | $5.9M | $29.5M | 50x |
| Short | Orderly PERP_OP_USDC | 0.1242 | −0.0047 | pay 0.0047% / 8h | 7h 27m | $12K | $235K | 10x |
OKX OP-USDT-SWAP
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against OKX. 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
- −$30.95
- Price spread: −0.016% → +0.016%
- −$3.2
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$50.15
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago | 0.40 bp | 9.1 bp −$9 | 26.1 bp −$261 | 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 | −0.1328% | 1h | 0.1235 | −0.580% | $34K | $63K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1243 | +0.097% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0555% | 1h | 0.1242 | −0.016% | $31K | $165K | 25x | as long as short |
| Orderly PERP_OP_USDCshort | −0.0047% | 8h | 0.1242 | −0.016% | $12K | $235K | 10x | |
| KuCoin OPUSDTM | −0.0002% | 8h | 0.1242 | −0.016% | $2.8M | $6.1M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1245 | +0.208% | $38K | $522 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1241 | −0.097% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0058% | 8h | 0.1240 | −0.206% | $219K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1243 | +0.097% | $288K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1242 | −0.048% | $3.5M | $3.7M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
KuCoin OPUSDTM
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1243 | +0.104% | $201K | $214K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1242 | +0.020% | $19.2M | $69.0M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1242 | 0.000% | $18.1M | $26.5M | 75x | as long as short |
| OKX OP-USDT-SWAPlong | +0.0100% | 8h | 0.1242 | long leg | $5.9M | $29.5M | 50x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1243 | +0.032% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1242 | +0.016% | $22.1M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1242 | −0.016% | $5.7M | $6.9M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1242 | −0.016% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1240 | −0.137% | $111K | $223K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1240 | −0.202% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1239 | −0.232% | $310K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1240 | −0.177% | $43K | $694K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1242 | −0.008% | $190 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1243 | +0.097% | $165K | $257K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1241 | −0.093% | $99K | $608K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1240 | −0.177% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1244 | +0.145% | $25K | $69K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0156% | 1h | 0.1243 | +0.102% | $739K | $726K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1242 | +0.008% | $989K | $322K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1242 | −0.053% | $690 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit 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
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP