Spread before costs (cost unknown: a leg has no order-book sample)−0.157%
7d average—if it closes, per $10,000$16funding while held, a day+$5.02
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_OP_USDC | 0.1277 | −0.0067 | get 0.0067% / 8h | 1h 54m | $7K | $51K | 10x |
| Short | Bitget OPUSDT | 0.1275 | 0.0100 | get 0.0100% / 8h | 1h 54m | $6.0M | $6.0M | 75x |
Orderly PERP_OP_USDC
Bitget OPUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$15.66
- Funding while held
- $5.02
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$28.64
- Spread needed to break even
- 0.180%
Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 6 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0167%
- Per $10,000 a day
- +$5.02
- Average in range /8h
- —
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 6 min ago | 3.87 bp | 15.0 bp −$15 | 30.0 bp −$300 | 111.7 bp −$11.2K | doesn't fit |
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 price on every exchange
against the cheapest. Click to use as the short leg.Binance0.1273cheapestBackpack0.1274+0.077%Bybit0.1275+0.085%OKX0.1275+0.093%MEXC0.1275+0.093%
Binance
Backpack
Bybit
OKX
MEXCBitget0.1275+0.124%
BingX0.1276+0.203%Hyperliquid0.1276+0.218%Extended0.1276+0.221%Aevo0.1277+0.242%SoDEX0.1277+0.273%
BingX
Hyperliquid
Extended
Aevo
SoDEXOrderly0.1277+0.281%
Deribit0.1277+0.281%Gate0.1277+0.297%Reya0.1277+0.302%Coinbase International0.1278+0.360%HTX0.1279+0.430%GMX0.1279+0.437%KuCoin0.1279+0.438%Kraken Futures0.1279+0.443%Lighter0.1279+0.446%dYdX0.1279+0.470%gTrade (Gains Network)0.1279+0.470%Aster0.1280+0.497%BloFin0.1281+0.603%Variational Omni0.1287+1.104%ApeX Omni0.1288+1.145%edgeX0.1290+1.283%Injective0.1297+1.852%
Deribit
Gate
Reya
Coinbase International
HTX
GMX
KuCoin
Kraken Futures
Lighter
dYdX
gTrade (Gains Network)
Aster
BloFin
Variational Omni
ApeX Omni
InjectiveOP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Binance OPUSDT | −0.280% | −0.0140% | 8h | $20.6M | $63.9M | 75x | as long as short |
| Backpack OP_USDC_PERP | −0.204% | +0.0100% | 1h | $132K | $162K | 10x | as long as short |
| Bybit OPUSDT | −0.196% | +0.0015% | 8h | $18.1M | $26.7M | 75x | as long as short |
| OKX OP-USDT-SWAP | −0.188% | +0.0074% | 8h | $6.2M | $31.4M | 50x | as long as short |
| MEXC OP_USDT | −0.188% | −0.0135% | 8h | $19.6M | $8.6M | 300x | as long as short |
| Bitget OPUSDTshort | −0.157% | +0.0100% | 8h | $6.0M | $6.0M | 75x | |
| BingX OP-USDT | −0.078% | +0.0100% | 8h | — | $6.5M | — | as long as short |
| Hyperliquid OP | −0.063% | +0.0100% | 1h | $4.1M | $3.0M | 5x | as long as short |
| Extended OP-USD | −0.059% | −0.0144% | 1h | $102K | $217K | 25x | as long as short |
| Aevo OP-PERP | −0.039% | +0.0048% | 1h | $4K | — | 3x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SoDEX OP-USD | −0.008% | −0.0042% | 1h | $166 | $5K | 5x | as long as short |
| Orderly PERP_OP_USDClong | 0.000% | −0.0067% | 8h | $7K | $51K | 10x | |
| Deribit OP_USDC-PERPETUAL | 0.000% | −0.0532% | 1h | $40K | $212K | 25x | as long as short |
| Gate OP_USDT | +0.016% | +0.0100% | 8h | $1.8M | $1.6M | 50x | as long as short |
| Reya OPRUSDPERP | +0.021% | +0.0430% | 1h | $710 | — | 20x | as long as short |
| Coinbase International OP-PERP-INTX | +0.078% | −0.0328% | 1h | $27K | $86K | 50x | as long as short |
| HTX OP-USDT | +0.149% | +0.0100% | 8h | $190K | $227K | 50x | as long as short |
| GMX OP/USD [OP-USDC] | +0.156% | L −0.1208% / S +0.0249% | 1h | $13K | — | 100x | as long as short |
| KuCoin OPUSDTM | +0.157% | +0.0100% | 8h | $2.9M | $6.7M | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.162% | +0.0142% | 1h | $784K | $657K | 20x | as long as short |
| Lighter OP | +0.164% | +0.0096% | 1h | $368K | $738K | 15x | as long as short |
| dYdX OP-USD | +0.188% | 0.0000% | 1h | $40K | $10 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | +0.188% | L +0.0005% / S −0.0004% | 1h | $1K | — | 150x | as long as short |
| Aster OPUSDT | +0.215% | +0.0100% | 8h | $201K | $438K | 10x | as long as short |
| BloFin OP-USDT | +0.321% | −0.0015% | 8h | $1.0M | $580K | 75x | as long as short |
| Variational Omni OP | +0.821% | −0.0057% | 8h | $235K | $39K | — | as long as short |
| ApeX Omni OPUSDT | +0.861% | +0.0100% | 1h | $46K | $704K | 50x | as long as short |
| edgeX OPUSDC | +0.999% | +0.0100% | 4h | $4K | $407K | 10x | as long as short |
| Injective OP/USDC PERP | +1.566% | +0.0033% | 1h | $25K | $185K | 12x | as long as short |