OP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0385%/8h= +42.2% APRnext payment +$0.48 per $10,000 · paid last 24h +0.028%

Price spread now: Reya against Kraken Futures−0.272%48s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.272% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.272% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$27 on $10k: about 2.3 days of funding at the current rate (+$12 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_OPUSD	0.1273	0.0056	pay 0.0007% / 1h	29m 23s	$781K	$555K	20x
Short	Reya OPRUSDPERP	0.1269	0.0442	get 0.0055% / 1h	29m 23s	$706	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.272%Rate

Funding earned: $80.9
Price spread: −0.272% → 0.000%: −$27.15
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $37.74
Costs to cover: 0.160%
Break-even: 3.7 days

Slippage unknown: Kraken Futures: live order book, 24 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 Kraken Futures live order book, 24 min ago	6.27 bp	24.9 bp −$25	129.8 bp −$1,298	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	−0.1568%	1h	0.1264	−0.692%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1270	−0.226%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1271	−0.154%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1270	−0.221%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1270	−0.221%	—	—	150x	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1270	−0.221%	$25K	$58K	50x	as long as short
Variational Omni OP	+0.0047%	8h	0.1274	+0.111%	$225K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1269	−0.299%	$6K	$46K	10x	as long as short
Kraken Futures PF_OPUSDlong	+0.0056%	1h	0.1273	long leg	$781K	$555K	20x
OKX OP-USDT-SWAP	+0.0088%	8h	0.1269	−0.284%	$6.2M	$28.6M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1271	−0.158%	$276K	$945K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1271	−0.158%	$3.7M	$2.8M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1271	−0.169%	$212K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1270	−0.260%	$20.6M	$61.0M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1269	−0.315%	$18.7M	$24.9M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1270	−0.197%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1270	−0.252%	$21.3M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1269	−0.299%	$2.8M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1269	−0.299%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1270	−0.221%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1271	−0.158%	$118K	$207K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1272	−0.071%	$4K	$387K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1273	+0.038%	$318K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1272	−0.064%	$44K	$708K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1272	−0.087%	$189	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1273	+0.023%	$172K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1269	−0.291%	$102K	$391K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1270	−0.260%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1275	+0.195%	$1.0M	$282K	75x	as long as short
Reya OPRUSDPERPshort	+0.0442%	1h	0.1269	−0.272%	$706	—	20x