OP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0290%/8h= −31.8% APRnext payment −$0.36 per $10,000 · paid last 24h −0.054%

Price spread now: Kraken Futures against Reya+0.095%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Kraken Futures is 0.095% dearer against Reya than usual: you sell high and buy low (spread +0.095% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya OPRUSDPERP	0.1251	0.0445	pay 0.0056% / 1h	45m 02s	$696	—	20x
Short	Kraken Futures PF_OPUSD	0.1253	0.0155	get 0.0019% / 1h	45m 02s	$745K	$675K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$60.95
Price spread: +0.095% → 0.000%: $9.45
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$67.5
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 53 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 Kraken Futures live order book, 53 min ago	6.01 bp	20.3 bp −$20	59.2 bp −$592	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	−0.1328%	1h	0.1235	−1.318%	$34K	$63K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1164% / S +0.0246%	1h	0.1251	−0.015%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0549%	1h	0.1251	−0.039%	$31K	$165K	25x	as long as short
Orderly PERP_OP_USDC	−0.0052%	8h	0.1251	−0.039%	$12K	$235K	10x	as long as short
dYdX OP-USD	0.0000%	1h	0.1253	+0.103%	$39K	$522	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1252	+0.008%	—	—	150x	as long as short
KuCoin OPUSDTM	+0.0036%	8h	0.1251	−0.039%	$2.8M	$6.0M	75x	as long as short
Variational Omni OP	+0.0071%	8h	0.1251	−0.004%	$221K	$47K	—	as long as short
Lighter OP	+0.0096%	1h	0.1253	+0.120%	$289K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1253	+0.081%	$3.5M	$3.6M	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	0.1253	+0.147%	$206K	$211K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1252	+0.065%	$19.7M	$67.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1251	−0.023%	$18.2M	$26.3M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1252	+0.065%	$6.0M	$29.5M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1252	+0.073%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1252	+0.017%	$22.3M	$7.7M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1252	+0.041%	$5.6M	$6.8M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1252	+0.041%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1252	+0.001%	$117K	$222K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1250	−0.085%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1250	−0.095%	$310K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1255	+0.280%	$43K	$694K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1252	+0.001%	$193	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1252	+0.001%	$166K	$259K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1251	−0.028%	$100K	$613K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1252	+0.001%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0112%	1h	0.1253	+0.120%	$24K	$67K	50x	as long as short
Kraken Futures PF_OPUSDshort	+0.0155%	1h	0.1253	+0.095%	$745K	$675K	20x
BloFin OP-USDT	+0.0220%	8h	0.1251	−0.071%	$994K	$325K	75x	as long as short
Reya OPRUSDPERPlong	+0.0445%	1h	0.1251	long leg	$696	—	20x