Funding you earn now, next payment 08:00 UTC−0.0093%/8h= −10.2% APRnext payment −$0.93 per $10,000 · paid last 24h +0.001%
Price spread now: Orderly against Variational Omni−0.200%7-day average +0.037% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.025%−$3 on $10k
+Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.200%, 7d avg +0.037%
=Together, before fees+0.106%+ Points / potential airdropVariational Omni: Active · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.237% cheaper against Variational Omni than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.037%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni OP | 0.1252 | 0.0039 | pay 0.0039% / 8h | 40m 23s | $221K | $47K | — |
| Short | Orderly PERP_OP_USDC | 0.1249 | −0.0054 | pay 0.0054% / 8h | 40m 23s | $12K | $236K | 10x |
Variational Omni OP
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Variational Omni. 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
- −$19.55
- Price spread: −0.200% → +0.037%
- −$23.73
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$49.28
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 64 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 Variational Omni RFQ quote, 64 min ago | 7.97 bp | doesn't fit | 47.8 bp −$478 | 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 | −0.1660% | 1h | 0.1247 | −0.360% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.0898% / S +0.0202% | 1h | 0.1249 | −0.170% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDCshort | −0.0054% | 8h | 0.1249 | −0.200% | $12K | $236K | 10x | |
| dYdX OP-USD | 0.0000% | 1h | 0.1251 | −0.028% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1249 | −0.200% | $32K | $154K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1250 | −0.147% | — | — | 150x | as long as short |
| Variational Omni OPlong | +0.0039% | 8h | 0.1252 | long leg | $221K | $47K | — | |
| KuCoin OPUSDTM | +0.0061% | 8h | 0.1248 | −0.280% | $2.8M | $6.2M | 75x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0080% | 1h | 0.1250 | −0.120% | $24K | $65K | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1251 | −0.072% | $288K | $1.1M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
KuCoin OPUSDTM
Coinbase International OP-PERP-INTX
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1250 | −0.104% | $3.5M | $3.7M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1250 | −0.160% | $205K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1249 | −0.192% | $19.8M | $67.1M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1248 | −0.248% | $18.3M | $26.1M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1249 | −0.200% | $6.0M | $29.3M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1250 | −0.160% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1249 | −0.192% | $22.2M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1248 | −0.280% | $5.6M | $6.9M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1248 | −0.280% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1252 | +0.031% | $115K | $219K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1251 | −0.039% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1250 | −0.106% | $305K | $5.2M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1250 | −0.120% | $43K | $698K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1248 | −0.248% | $206 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | +0.071% | $166K | $259K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1248 | −0.259% | $100K | $600K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1249 | −0.200% | $3K | $1K | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0165% | 1h | 0.1249 | −0.200% | $745K | $669K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1252 | +0.039% | $999K | $323K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0444% | 1h | 0.1248 | −0.296% | $694 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
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
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP