OP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0336%/8h= −36.8% APRnext payment −$0.42 per $10,000 · paid last 24h −0.098%

Price spread now: Hyperliquid against Reya+0.073%7-day average — · 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)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Hyperliquid is 0.073% dearer against Reya than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya OPRUSDPERP	0.1257	0.0436	pay 0.0055% / 1h	51m 45s	$699	—	20x
Short	Hyperliquid OP	0.1258	0.0100	get 0.0013% / 1h	51m 45s	$4.1M	$2.9M	5x

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 +0.073%Rate

Funding earned: −$70.65
Price spread: +0.073% → 0.000%: $7.32
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$78.32
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 10 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, 10 min ago	1.19 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit

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	−0.1710%	1h	0.1255	−0.150%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1257	−0.015%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1243	−1.104%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1258	+0.079%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1257	+0.010%	$41K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1257	+0.017%	—	—	150x	as long as short
Variational Omni OP	+0.0039%	8h	0.1259	+0.172%	$231K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0050%	8h	0.1256	−0.070%	$6K	$49K	10x	as long as short
OKX OP-USDT-SWAP	+0.0095%	8h	0.1256	−0.070%	$5.9M	$29.6M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1257	+0.018%	$274K	$904K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OPshort	+0.0100%	1h	0.1258	+0.073%	$4.1M	$2.9M	5x
Aster OPUSDT	+0.0100%	8h	0.1257	−0.027%	$210K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1257	−0.028%	$20.4M	$62.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1255	−0.126%	$18.3M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1258	+0.073%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1257	−0.014%	$19.9M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1257	+0.010%	$2.9M	$7.6M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1257	+0.010%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1256	−0.070%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1256	−0.054%	$124K	$190K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1260	+0.277%	$11K	$378K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1261	+0.322%	$312K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1261	+0.328%	$45K	$718K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1257	−0.030%	$178	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1258	+0.121%	$174K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1256	−0.089%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1257	+0.002%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1258	+0.073%	$999K	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0229%	1h	0.1258	+0.070%	$780K	$734K	20x	as long as short
Reya OPRUSDPERPlong	+0.0436%	1h	0.1257	long leg	$699	—	20x