ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0087%/8h= −9.5% APRnext payment −$0.11 per $10,000 · paid last 24h +0.010%

Price spread now: Hyperliquid against Reya+0.097%7-day average +0.065% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 7 days−0.067%−$7 · spread now +0.097%, 7d avg +0.065%

Together, before fees−0.080%+ Points / potential airdropReya: Active · Hyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.032% dearer against Reya than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.065%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 3 days (−0.013% in total) that is about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ETHRUSDPERP	2,772.4	0.0187	pay 0.0023% / 1h	56m 08s	$7.3M	$1.1M	25x
Short	Hyperliquid ETH	2,775.1	0.0100	get 0.0013% / 1h	56m 08s	$3.19B	$2.40B	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee HyperliquidbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$18.19
Price spread: +0.097% → +0.065%: $3.21
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$29.98
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 8 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 8 min ago	0.18 bp	4.7 bp −$5	4.7 bp −$47	4.7 bp −$468	5.4 bp −$2,688

Reya: 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.

ETH on 55 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
Perpl ETH	−0.0447%	43m	2,773.1	+0.025%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,773	+0.022%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,774.5	+0.076%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,772.8	+0.014%	$169K	$1.2M	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,768.7	−0.134%	$119K	$22.5M	52x	as long as short
Phoenix ETH	−0.0023%	1h	2,770.5	−0.069%	$884K	$3.6M	25x	as long as short
Aftermath Perps ETHUSD	−0.0001%	1h	2,771.4	−0.035%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,775.8	+0.124%	$12.7M	$45.5M	50x	as long as short
Nado ETH-PERP	+0.0002%	1h	2,773.3	+0.034%	$14.3M	$118.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.3	+0.033%	$22.4M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi ETH/USDT-P	+0.0016%	1h	2,771.8	−0.022%	$280K	$1.5M	20x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,773.3	+0.032%	—	$1.19B	—	as long as short
OKX ETH-USDT-SWAP	+0.0023%	8h	2,773.1	+0.025%	$1.71B	$11.88B	100x	as long as short
Phemex ETHUSDT	+0.0027%	8h	2,772.5	+0.004%	$267.1M	$65.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,773.3	+0.032%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,772.6	+0.009%	$256.4M	$993.8M	200x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,770.6	−0.065%	$8.7M	$32.6M	100x	as long as short
Bullet ETH-USD	+0.0036%	1h	2,772.6	+0.007%	$183K	$1.8M	20x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,770.8	−0.059%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0052%	8h	2,773.5	+0.038%	$1.59B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0052%	8h	2,772.8	+0.016%	$6.43B	$17.20B	150x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,773.3	+0.032%	$2.10B	$3.12B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0074%	1h	2,774.5	+0.076%	$258.4M	$225.0M	50x	as long as short
Gate ETH_USDT	+0.0079%	8h	2,772.6	+0.007%	$3.28B	$9.53B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,773.1	+0.026%	$115.0M	$494.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.6	+0.080%	$25.4M	$120.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,773.7	+0.047%	—	$41.8M	500x	as long as short
HTX ETH-USDT	+0.0097%	8h	2,772.7	+0.011%	$1.08B	$1.32B	200x	as long as short
Variational Omni ETH	+0.0099%	8h	2,770.9	−0.055%	$140.8M	$321.1M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,774.1	+0.060%	$15.9M	$10.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.2	+0.029%	$480K	$2.8M	50x	as long as short
Hyperliquid ETHshort	+0.0100%	1h	2,775.1	+0.097%	$3.19B	$2.40B	25x
Pacifica ETH	+0.0100%	1h	2,774.8	+0.088%	$31.3M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,773.4	+0.036%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,774.1	+0.061%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,775.6	+0.114%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	−0.052%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,773.2	+0.028%	$422.5M	$740.5M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.8	+0.049%	$15.2M	$44.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.2	−0.153%	$179.4M	$778.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.5	−0.033%	$161.2M	$96.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,769.7	−0.097%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,772.9	+0.017%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,774	+0.058%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.8	+0.049%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,775.1	+0.098%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.2	−0.009%	$972K	$14.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,772.9	+0.018%	$55.2M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,772.4	+0.001%	$31.5M	$75.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,774.4	+0.073%	$59.9M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,774.3	+0.068%	$8.6M	$673.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,775.7	+0.119%	$32.6M	$12.1M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,774	+0.056%	$86.1M	$331.6M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,770.6	−0.064%	$285.9M	$194.9M	150x	as long as short
Reya ETHRUSDPERPlong	+0.0187%	1h	2,772.4	long leg	$7.3M	$1.1M	25x