Spread before costs (cost unknown: a leg has no order-book sample)+0.115%
7d average—if it closes, per $10,000$12funding while held, a day+$10.17
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_OP_USDC | 0.1299 | −0.0056 | get 0.0056% / 8h | 2h 40m | $7K | $51K | 10x |
| Short | Hyperliquid OP | 0.1300 | 0.0283 | get 0.0035% / 1h | 40m 18s | $4.2M | $2.9M | 5x |
Orderly PERP_OP_USDC
Hyperliquid OPPrice 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
- $11.55
- Funding while held
- $10.17
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $6.72
- Spread needed to break even
- 0.150%
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0339%
- Per $10,000 a day
- +$10.17
- 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 Hyperliquid live order book, 3 min ago | 1.54 bp | 11.6 bp −$12 | doesn't fit | doesn't fit | 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.Coinbase International0.1295cheapestVariational Omni0.1296+0.045%ApeX Omni0.1296+0.077%edgeX0.1297+0.132%Injective0.1297+0.154%HTX0.1298+0.247%Bybit0.1298+0.263%Aster0.1299+0.283%Extended0.1299+0.287%dYdX0.1299+0.288%BingX0.1299+0.293%Reya0.1299+0.301%Gate0.1299+0.301%KuCoin0.1299+0.309%Bitget0.1299+0.309%
Coinbase International
Variational Omni
ApeX Omni
Injective
HTX
Bybit
Aster
Extended
dYdX
BingX
Reya
Gate
KuCoin
BitgetOrderly0.1299+0.309%
Aevo0.1299+0.309%OKX0.1299+0.317%MEXC0.1299+0.317%SoDEX0.1299+0.317%BloFin0.1299+0.317%Backpack0.1299+0.324%Binance0.1300+0.355%gTrade (Gains Network)0.1300+0.374%GMX0.1300+0.376%Deribit0.1300+0.386%Lighter0.1300+0.394%Kraken Futures0.1300+0.408%
Aevo
OKX
MEXC
SoDEX
BloFin
Backpack
Binance
gTrade (Gains Network)
GMX
Deribit
Lighter
Kraken FuturesHyperliquid0.1300+0.425%
OP on 29 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International OP-PERP-INTX | −0.308% | −0.0416% | 1h | $28K | $97K | 50x | as long as short |
| Variational Omni OP | −0.263% | −0.0056% | 8h | $235K | $36K | — | as long as short |
| ApeX Omni OPUSDT | −0.231% | +0.0100% | 1h | $46K | $703K | 50x | as long as short |
| edgeX OPUSDC | −0.177% | +0.0100% | 4h | $4K | $406K | 10x | as long as short |
| Injective OP/USDC PERP | −0.154% | +0.0033% | 1h | $25K | $185K | 12x | as long as short |
| HTX OP-USDT | −0.062% | +0.0100% | 8h | $190K | $211K | 50x | as long as short |
| Bybit OPUSDT | −0.046% | +0.0019% | 8h | $18.2M | $26.2M | 75x | as long as short |
| Aster OPUSDT | −0.026% | +0.0100% | 8h | $201K | $418K | 10x | as long as short |
| Extended OP-USD | −0.022% | −0.0104% | 1h | $105K | $208K | 25x | as long as short |
| dYdX OP-USD | −0.021% | 0.0000% | 1h | $40K | $10 | 10x | as long as short |
Show all 29 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BingX OP-USDT | −0.015% | +0.0100% | 8h | — | $6.2M | — | as long as short |
| Reya OPRUSDPERP | −0.008% | +0.0429% | 1h | $722 | — | 20x | as long as short |
| Gate OP_USDT | −0.008% | +0.0100% | 8h | $1.8M | $1.7M | 50x | as long as short |
| KuCoin OPUSDTM | 0.000% | +0.0100% | 8h | $3.0M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | 0.000% | +0.0100% | 8h | $6.1M | $5.7M | 75x | as long as short |
| Orderly PERP_OP_USDClong | 0.000% | −0.0056% | 8h | $7K | $51K | 10x | |
| Aevo OP-PERP | 0.000% | +0.0056% | 1h | $4K | — | 3x | as long as short |
| OKX OP-USDT-SWAP | +0.008% | +0.0069% | 8h | $6.3M | $31.2M | 50x | as long as short |
| MEXC OP_USDT | +0.008% | −0.0106% | 8h | $20.1M | $8.6M | 300x | as long as short |
| SoDEX OP-USD | +0.008% | +0.0100% | 1h | $182 | $5K | 5x | as long as short |
| BloFin OP-USDT | +0.008% | +0.0014% | 8h | $1.1M | $574K | 75x | as long as short |
| Backpack OP_USDC_PERP | +0.015% | +0.0100% | 1h | $136K | $152K | 10x | as long as short |
| Binance OPUSDT | +0.046% | −0.0106% | 8h | $21.1M | $61.4M | 75x | as long as short |
| gTrade (Gains Network) OP/USD | +0.065% | L +0.0004% / S −0.0004% | 1h | — | — | 150x | as long as short |
| GMX OP/USD [OP-USDC] | +0.067% | L −0.1208% / S +0.0249% | 1h | $14K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | +0.077% | 0.0000% | 1h | $44K | $188K | 25x | as long as short |
| Lighter OP | +0.085% | +0.0096% | 1h | $300K | $333K | 15x | as long as short |
| Kraken Futures PF_OPUSD | +0.099% | +0.0231% | 1h | $803K | $637K | 20x | as long as short |
| Hyperliquid OPshort | +0.115% | +0.0283% | 1h | $4.2M | $2.9M | 5x |