LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0119%/8h= −13.0% APRnext payment −$0.15 per $10,000 · paid last 24h +0.026%

Price spread now: Reya against Hyperliquid−0.274%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Reya

What this pair did over the last

the charts below follow

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—+ Points / potential airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Reya is 0.274% cheaper against Hyperliquid than usual: you would sell low and buy high (−$27 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	Hyperliquid LINK	13.188	0.0499	pay 0.0062% / 1h	46m 53s	$80.1M	$24.8M	10x
Short	Reya LINKRUSDPERP	13.152	0.0380	get 0.0048% / 1h	46m 53s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Hyperliquid. 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 HyperliquidbpFee ReyabpOrdersPrice spread, now −0.274%Rate

Funding earned: −$24.91
Price spread: −0.274% → 0.000%: −$27.42
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$67.33
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; Reya: 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 Hyperliquid live order book, 7 min ago	0.38 bp	5.5 bp −$5	14.1 bp −$141	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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.

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.162	−0.201%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.158	−0.231%	$467K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.164	−0.184%	$761K	$181K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.162	−0.201%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.975%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.154	−0.259%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.165	−0.174%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.163	−0.190%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.146	−0.318%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.153	−0.262%	$403K	$313K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.165	−0.174%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.151	−0.283%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.159	−0.219%	$122.2M	$306.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.157	−0.235%	$84.8M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.157	−0.235%	$27.9M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.168	−0.152%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.165	−0.174%	$130.4M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.164	−0.182%	$36.5M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.169	−0.144%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.165	−0.174%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.160	−0.212%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.145	−0.323%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.152	−0.273%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.150	−0.291%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.161	−0.205%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.158	−0.227%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.165	−0.178%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.168	−0.149%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.158	−0.227%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.139	−0.369%	$646K	$874K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.160	−0.210%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.159	−0.217%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.165	−0.174%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0193%	1h	13.178	−0.076%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.162	−0.197%	$5.2M	$16.7M	75x	as long as short
dYdX LINK-USD	+0.0227%	1h	13.147	−0.312%	$348K	$48K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.164	−0.183%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERPshort	+0.0380%	1h	13.152	−0.274%	$5K	—	20x
Phemex LINKUSDT	+0.0476%	8h	13.175	−0.099%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINKlong	+0.0499%	1h	13.188	long leg	$80.1M	$24.8M	10x