OP funding rates and arbitrage
Updated 2026-11-11 22:51 UTC
Best OP arbitrage after every cost
No OP pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
OP funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Crypto.com | OPUSD-PERP | 0.0021% | 1 h | +18.4% | +2.9% | $12.7K | 2026-11-11 23:00 |
| KuCoin | OPUSDTM | 0.0100% | 8 h | +10.9% | +7.4% | $1.7M | 2026-11-12 00:00 |
| Backpack | OP_USDC_PERP | 0.0013% | 1 h | +10.9% | +53.9% | $202K | 2026-11-11 23:00 |
| WhiteBIT | OP_PERP | 0.0100% | 8 h | +10.9% | +6.1% | $2.9M | 2026-11-12 00:00 |
| ApeX | OP-USDT | 0.0013% | 1 h | +10.9% | +11.0% | $46.2K | 2026-11-11 23:00 |
| HTX | OP-USDT | 0.0100% | 8 h | +10.9% | +14.2% | $54.2K | 2026-11-12 00:00 |
| TXFlow | OP-USDC | 0.0013% | 1 h | +10.9% | — | $4.2K | 2026-11-11 23:00 |
| Aster | OPUSDT | 0.0100% | 8 h | +10.9% | +11.0% | $123.8K | 2026-11-12 00:00 |
| Hyperliquid | OP | 0.0013% | 1 h | +10.9% | +8.8% | $2.6M | 2026-11-11 23:00 |
| Lighter | OP | 0.0012% | 1 h | +10.5% | +10.3% | $118.8K | 2026-11-11 23:00 |
| BloFin | OP-USDT | 0.0023% | 8 h | +2.5% | +10.9% | $588.9K | 2026-11-12 00:00 |
| GRVT | OP_USDT_Perp | 0.0018% | 8 h | +2.0% | +4.5% | $227.7K | 2026-11-12 00:00 |
| BingX | OP-USDT | 0.0018% | 8 h | +2.0% | +10.3% | $1.8M | 2026-11-12 00:00 |
| LBank | OPUSDT | 0.0018% | 8 h | +1.9% | +11.9% | — | 2026-11-12 00:00 |
| WOO X | PERP_OP_USDT | 0.0018% | 8 h | +1.9% | +4.0% | $26.5K | 2026-11-12 00:00 |
| Binance | OPUSDT | 0.0018% | 8 h | +1.9% | +4.1% | $11.8M | 2026-11-12 00:00 |
| MEXC | OP_USDT | 0.0017% | 8 h | +1.9% | +4.0% | $5.5M | 2026-11-12 00:00 |
| Bitunix | OPUSDT | 0.0016% | 8 h | +1.8% | +4.2% | — | 2026-11-12 00:00 |
| Extended | OP-USD | 0.0002% | 1 h | +1.8% | +4.1% | $18.2K | 2026-11-11 23:00 |
| OKX | OP-USDT-SWAP | 0.0003% | 8 h | +0.3% | −0.1% | $3.5M | 2026-11-12 00:00 |
| Bitget | OPUSDT | 0.0001% | 8 h | +0.1% | +9.7% | $4.2M | 2026-11-12 00:00 |
| dYdX | OP-USD | 0.0000% | 1 h | 0.0% | 0.0% | $30.3K | 2026-11-11 23:00 |
| Variational | OP-PERP | -0.0149% | 8 h | −16.3% | +12.8% | $221.8K | 2026-11-12 00:00 |
| Bybit | OPUSDT | -0.0238% | 8 h | −26.1% | +2.0% | $8.6M | 2026-11-12 00:00 |
| Gate | OP_USDT | -0.0307% | 8 h | −33.6% | −2.8% | $4.8M | 2026-11-12 00:00 |
| Kraken | PF_OPUSD | -0.0066% | 1 h | −58.0% | −5.6% | $520.7K | 2026-11-11 23:00 |
Borrow OP to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 1.37% | — |
| Bybit | 2.73% | — |
| Binance | 3.11% | — |
| OKX | 7.40% | — |
| Gate | 12.48% | $120K |
Cost to enter $10,000 of OP
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| GRVT | OP_USDT_Perp | 10.1 bp | order-book snapshot, 53 min old |
| KuCoin | OPUSDTM | 16.3 bp | order-book snapshot, 2 min old |
| dYdX | OP-USD | 809.6 bp | order-book snapshot, 59 min old |
| MEXC | OP_USDT | 1.0 bp | top of book only |
| Lighter | OP | 2.6 bp | top of book only |
| Variational | OP-PERP | 3.6 bp | top of book only |
| Binance | OPUSDT | 5.5 bp | top of book only |
| BingX | OP-USDT | 5.5 bp | top of book only |
| OKX | OP-USDT-SWAP | 6.0 bp | top of book only |
| HTX | OP-USDT | 6.5 bp * | top of book only |
| Bybit | OPUSDT | 6.5 bp | top of book only |
| BloFin | OP-USDT | 7.0 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
More on OP
Questions
Is OP funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no OP pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest OP funding rate?
Crypto.com at +18.4% a year (0.0021% every 1 h); the lowest is Kraken at −58.0%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.