OP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0344%/8h= +37.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.100%

Price spread now: Reya against Lighter−0.128%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.128% cheaper against Lighter than usual: you would sell low and buy high (spread −0.128% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 30 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	Lighter OP	0.1270	0.0096	pay 0.0012% / 1h	34m 12s	$282K	$934K	15x
Short	Reya OPRUSDPERP	0.1268	0.0440	get 0.0055% / 1h	34m 12s	$705	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Lighter. 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 LighterbpFee ReyabpOrdersPrice spread, now −0.128%Rate

Funding earned: $72.24
Price spread: −0.128% → 0.000%: −$12.85
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $53.39
Costs to cover: 0.060%
Break-even: 1.8 days

Slippage unknown: Lighter: live order book, 26 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 Lighter live order book, 26 min ago	7.11 bp	18.2 bp −$18	46.0 bp −$460	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	−0.1488%	1h	0.1257	−1.016%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1268	−0.124%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1269	−0.102%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1269	−0.071%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1269	−0.099%	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0034%	8h	0.1268	−0.134%	$6.1M	$29.1M	50x	as long as short
Variational Omni OP	+0.0049%	8h	0.1267	−0.236%	$224K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1268	−0.150%	$6K	$45K	10x	as long as short
Lighter OPlong	+0.0096%	1h	0.1270	long leg	$282K	$934K	15x
Hyperliquid OP	+0.0100%	1h	0.1269	−0.039%	$3.7M	$3.0M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1270	−0.031%	$212K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1270	−0.016%	$20.5M	$60.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1268	−0.157%	$18.5M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1269	−0.063%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1269	−0.094%	$20.9M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1268	−0.150%	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1268	−0.150%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1268	−0.150%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1271	+0.094%	$121K	$195K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1264	−0.436%	$4K	$389K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1266	−0.296%	$312K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1266	−0.307%	$43K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1269	−0.094%	$180	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1269	−0.087%	$175K	$216K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1268	−0.147%	$106K	$394K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1268	−0.110%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0152%	1h	0.1265	−0.386%	$24K	$70K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1270	+0.039%	$1.0M	$272K	75x	as long as short
Reya OPRUSDPERPshort	+0.0440%	1h	0.1268	−0.128%	$705	—	20x
Kraken Futures PF_OPUSD	+0.0489%	1h	0.1270	−0.023%	$802K	$577K	20x	as long as short