Funding you earn now, next payment 22:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.098%
Price spread now: KuCoin against Reya−0.076%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and KuCoin is 0.076% cheaper against Reya than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | Reya OPRUSDPERP | 0.1261 | 0.0436 | pay 0.0055% / 1h | 8m 34s | $701 | — | 20x |
| Short | KuCoin OPUSDTM | 0.1260 | 0.0100 | get 0.0100% / 8h | 2h 08m | $2.9M | $7.6M | 75x |
Reya OPRUSDPERP
KuCoin OPUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$70.6
- Price spread: −0.076% → 0.000%
- −$7.55
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$96.15
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago | 3.95 bp | 26.4 bp −$26 | 71.7 bp −$717 | 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 | −0.1658% | 1h | 0.1254 | −0.551% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1261 | +0.035% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.424% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1261 | +0.039% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1261 | +0.004% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1262 | +0.073% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0035% | 8h | 0.1260 | −0.106% | $230K | $44K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0040% | 8h | 0.1261 | +0.004% | $6K | $50K | 10x | as long as short |
| OKX OP-USDT-SWAP | +0.0092% | 8h | 0.1261 | +0.020% | $5.9M | $29.9M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1262 | +0.083% | $271K | $908K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1263 | +0.139% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1261 | +0.009% | $212K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1261 | +0.020% | $20.5M | $62.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1260 | −0.068% | $18.4M | $25.4M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1262 | +0.051% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1261 | −0.028% | $20.0M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTMshort | +0.0100% | 8h | 0.1260 | −0.076% | $2.9M | $7.6M | 75x | |
| Bitget OPUSDT | +0.0100% | 8h | 0.1262 | +0.083% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1261 | +0.004% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1261 | −0.012% | $125K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1260 | −0.082% | $11K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1262 | +0.095% | $312K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | +0.004% | $45K | $720K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1261 | −0.020% | $169 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1262 | +0.115% | $175K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1261 | −0.011% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1261 | −0.029% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1262 | +0.101% | $781K | $732K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1260 | −0.091% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERPlong | +0.0436% | 1h | 0.1261 | long leg | $701 | — | 20x |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Kraken Futures PF_OPUSD
BloFin OP-USDT