# OP funding rates and arbitrage

Updated 2026-10-29 16:16 UTC · https://afterfees.xyz/coin/OP

## 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](https://afterfees.xyz/venues/cryptocom) | OPUSD-PERP | 0.0088% | 1 h | +77.5% | +41.1% | $75.4K | 2026-10-29 17:00 |
| [BloFin](https://afterfees.xyz/venues/blofin) | OP-USDT | 0.0193% | 8 h | +21.2% | +8.4% | $776.4K | 2026-10-30 00:00 |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | OPUSDTM | 0.0100% | 8 h | +10.9% | +6.7% | $1.8M | 2026-10-30 00:00 |
| [Backpack](https://afterfees.xyz/venues/backpack) | OP_USDC_PERP | 0.0013% | 1 h | +10.9% | +11.1% | $60.8K | 2026-10-29 17:00 |
| [ApeX](https://afterfees.xyz/venues/apex) | OP-USDT | 0.0013% | 1 h | +10.9% | +11.0% | $55.9K | 2026-10-29 17:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | OPUSDT | 0.0100% | 8 h | +10.9% | +11.0% | $5.2M | 2026-10-30 00:00 |
| [HTX](https://afterfees.xyz/venues/htx) | OP-USDT | 0.0100% | 8 h | +10.9% | +2.4% | $118.6K | 2026-10-30 00:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | OP-USDT | 0.0100% | 8 h | +10.9% | +11.0% | $4M | 2026-10-30 00:00 |
| [Aster](https://afterfees.xyz/venues/aster) | OPUSDT | 0.0100% | 8 h | +10.9% | +11.4% | $130K | 2026-10-30 00:00 |
| [Variational](https://afterfees.xyz/venues/variational) | OP-PERP | 0.0100% | 8 h | +10.9% | — | $265.2K | 2026-10-30 00:00 |
| [TXFlow](https://afterfees.xyz/venues/txflow) | OP-USDC | 0.0013% | 1 h | +10.9% | — | $50.2K | 2026-10-29 16:00 |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | OP | 0.0013% | 1 h | +10.9% | −3.1% | $4M | 2026-10-29 17:00 |
| [GRVT](https://afterfees.xyz/venues/grvt) | OP_USDT_Perp | 0.0083% | 8 h | +9.1% | +9.4% | $275K | 2026-10-30 00:00 |
| [OKX](https://afterfees.xyz/venues/okx) | OP-USDT-SWAP | 0.0080% | 8 h | +8.8% | −5.3% | $4.3M | 2026-10-30 00:00 |
| [WOO X](https://afterfees.xyz/venues/woox) | PERP_OP_USDT | 0.0073% | 8 h | +8.0% | −4.8% | $8.6K | 2026-10-30 00:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | OPUSDT | 0.0073% | 8 h | +8.0% | — | — | 2026-10-30 00:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | OP_USDT | 0.0073% | 8 h | +8.0% | −4.8% | $6.6M | 2026-10-30 00:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | OPUSDT | 0.0073% | 8 h | +7.9% | −4.9% | — | 2026-10-30 00:00 |
| [Binance](https://afterfees.xyz/venues/binance) | OPUSDT | 0.0072% | 8 h | +7.9% | −4.7% | $17.2M | 2026-10-30 00:00 |
| [Gate](https://afterfees.xyz/venues/gate) | OP_USDT | 0.0072% | 8 h | +7.9% | −5.7% | $5M | 2026-10-30 00:00 |
| [Extended](https://afterfees.xyz/venues/extended) | OP-USD | 0.0009% | 1 h | +7.9% | −5.4% | $21.2K | 2026-10-29 17:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | OPUSDT | 0.0044% | 8 h | +4.8% | +1.9% | $14M | 2026-10-30 00:00 |
| [dYdX](https://afterfees.xyz/venues/dydx) | OP-USD | 0.0000% | 1 h | 0.0% | 0.0% | $34.8K | 2026-10-29 17:00 |
| [Lighter](https://afterfees.xyz/venues/lighter) | OP | -0.0007% | 1 h | −6.1% | +8.9% | $196.3K | 2026-10-29 17:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | OP_PERP | -0.0185% | 8 h | −20.3% | −0.2% | $4.1M | 2026-10-30 00:00 |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_OPUSD | -0.0025% | 1 h | −21.6% | −9.9% | $613.6K | 2026-10-29 17:00 |

## Borrow OP to sell spot

| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 1.37% | — |
| Bybit | 2.58% | — |
| Binance | 4.17% | — |
| OKX | 11.29% | — |
| Gate | 12.72% | $120K |

## Cost to enter $10,000 of OP

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| BloFin | OP-USDT | 7.3 bp | order-book snapshot, 29 min old |
| GRVT | OP_USDT_Perp | 8.8 bp | order-book snapshot, 39 min old |
| dYdX | OP-USD | 626.2 bp | order-book snapshot, 46 min old |
| Lighter | OP | 4.0 bp | top of book only |
| MEXC | OP_USDT | 4.4 bp | top of book only |
| OKX | OP-USDT-SWAP | 5.4 bp | top of book only |
| Binance | OPUSDT | 5.4 bp | top of book only |
| BingX | OP-USDT | 5.4 bp | top of book only |
| Bybit | OPUSDT | 5.9 bp | top of book only |
| Hyperliquid | OP | 8.5 bp | top of book only |
| Variational | OP-PERP | 8.8 bp | top of book only |
| Bitget | OPUSDT | 10.4 bp | top of book only |

_Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees._

## More on OP

- [Borrow OP: rates on every exchange](https://afterfees.xyz/borrow/OP)
- [OP transfer arbitrage](https://afterfees.xyz/transfers/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 +77.5% a year (0.0088% every 1 h); the lowest is Kraken at −21.6%. 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._