OP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0339%/8h= +37.1% APRnext payment +$0.42 per $10,000 · paid last 24h +0.099%

Price spread now: Reya against Hyperliquid−0.136%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

Funding pays, the price is against you. Reya is 0.136% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.136% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 32 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid OP	0.1252	0.0100	pay 0.0013% / 1h	55m 15s	$3.9M	$3.0M	5x
Short	Reya OPRUSDPERP	0.1250	0.0439	get 0.0055% / 1h	55m 15s	$695	—	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 −0.136%Rate

Funding earned: $71.16
Price spread: −0.136% → 0.000%: −$13.59
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $42.57
Costs to cover: 0.150%
Break-even: 2.8 days

Slippage unknown: Hyperliquid: live order book, 6 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, 6 min ago	0.40 bp	11.4 bp −$11	doesn't fit	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.

OP on 30 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
Injective OP/USDC PERP	−0.1535%	1h	0.1246	−0.471%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1251	−0.065%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0184%	1h	0.1279	+2.165%	$25K	$77K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1252	−0.008%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1250	−0.152%	$41K	$163K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1251	−0.070%	—	—	150x	as long as short
Variational Omni OP	+0.0058%	8h	0.1251	−0.099%	$222K	$52K	—	as long as short
Orderly PERP_OP_USDC	+0.0059%	8h	0.1250	−0.152%	$6K	$47K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1251	−0.040%	$279K	$946K	15x	as long as short
Hyperliquid OPlong	+0.0100%	1h	0.1252	long leg	$3.9M	$3.0M	5x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1251	−0.036%	$209K	$231K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1251	−0.088%	$20.1M	$62.4M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1250	−0.152%	$18.1M	$26.2M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1250	−0.168%	$6.1M	$29.8M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1251	−0.088%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1251	−0.064%	$20.0M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1251	−0.072%	$2.9M	$7.0M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1250	−0.152%	$5.9M	$6.6M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1251	−0.072%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1250	−0.152%	$120K	$194K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1262	+0.808%	$4K	$387K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	+0.408%	$306K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1262	+0.807%	$43K	$726K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1250	−0.120%	$166	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1252	−0.016%	$173K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1250	−0.179%	$100K	$395K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1250	−0.180%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1252	−0.016%	$1.0M	$273K	75x	as long as short
Reya OPRUSDPERPshort	+0.0439%	1h	0.1250	−0.136%	$695	—	20x
Kraken Futures PF_OPUSD	+0.0466%	1h	0.1252	+0.004%	$790K	$747K	20x	as long as short