Funding you earn now, next payment 04:00 UTC−0.0435%/8h= −47.6% APRpaid last 24h −0.041%
Price spread now: Orderly against Deribit−0.125%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Orderly is 0.125% cheaper against Deribit than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit S_USDC-PERPETUAL | 0.04002 | 0.0500 | pay 0.0063% / 1h | 21m 22s | $67K | $10K | 10x |
| Short | Orderly PERP_S_USDC | 0.03997 | 0.0065 | get 0.0033% / 4h | 21m 22s | $99K | $293K | 10x |
Deribit S_USDC-PERPETUAL
Orderly PERP_S_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Deribit. 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
- −$91.29
- Price spread: −0.125% → 0.000%
- −$12.49
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$116.78
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Deribit and 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.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −0.7160% | 1h | 0.03970 | −0.800% | $25K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.2557% | 1h | 0.03992 | −0.247% | $33K | $13K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1376% | 1h | 0.03963 | −0.975% | $48K | $16K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.03999 | −0.077% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03995 | −0.167% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03998 | −0.088% | $3K | — | 150x | as long as short |
| Variational Omni S | +0.0004% | 4h | 0.04015 | +0.319% | $623K | $30K | — | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +2.449% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDCshort | +0.0065% | 4h | 0.03997 | −0.125% | $99K | $293K | 10x | |
| Lighter S | +0.0096% | 1h | 0.04003 | +0.025% | $168K | $156K | 5x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Variational Omni S
Injective S/USDC PERP
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.03999 | −0.070% | $997K | $551K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04001 | −0.032% | $44K | $131K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03997 | −0.123% | $5.5M | $13.8M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03992 | −0.250% | $5.8M | $4.5M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03994 | −0.200% | $1.0M | $3.8M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03998 | −0.100% | $327K | $189K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03997 | −0.125% | $3.8M | $1.8M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03992 | −0.250% | $1.8M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04000 | −0.050% | $1.2M | $2.2M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03997 | −0.125% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04040 | +0.950% | $25K | $461K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03995 | −0.183% | $229K | $1.1M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03984 | −0.450% | $276K | $96K | 75x | as long as short |
| Deribit S_USDC-PERPETUALlong | +0.0500% | 1h | 0.04002 | long leg | $67K | $10K | 10x | |
| Backpack S_USDC_PERP | +0.0901% | 1h | 0.04010 | +0.200% | $117K | $415K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Backpack S_USDC_PERP