Filtering is required in the practical implementation of orthogonal frequency division multiples (OPDM) systems operating at radio frequencies, These filters smear the transmitted waveform, and cause inter-symbol interference (ISI) between the blocks, forcing a further extension to the cyclic prefix. The tighter the filtering, the smaller the frequency bandwidth (guard-band) needed between adjacent channel users and the longer the prefix extension, Equations are developed that relate the prefix extension to the guard-band given the required subchannel signal-to-noise ratio (SNR). Numerical evaluation is then used to show the trade off between time domain and frequency domain capacity loss. There is an optimum guard-hand loss, that will minimize the total (time + frequency) capacity loss. The total loss reduces as the inverse fast Fourier transform (IFFT) size N increases and the required SNR reduces. The capacity loss exceeds 40% when N = 32 and SNR is 33 dB (needed for 8DPSK with an symbol error rate (SER) of 3% and a margin of 10 dB), Some of the loss can be reduced by using better filters (Chebyshev II), but the general trend of the results imply that schemes with a low number of subchannels (N < 16) will not work well with high order modulations.