Funding you earn now, next payment 23:00 UTC−0.0395%/8h= −43.2% APRpaid last 24h −0.131%
Price spread now: Variational Omni against Reya−0.597%7-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
=Together, before fees—+ Points / potential airdropReya: Active · Variational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Variational Omni is 0.597% cheaper against Reya than usual: you would sell low and buy high (−$60 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya OPRUSDPERP | 0.1262 | 0.0437 | pay 0.0055% / 1h | 42m 44s | $702 | — | 20x |
| Short | Variational Omni OP | 0.1254 | 0.0042 | get 0.0042% / 8h | 1h 42m | $233K | $48K | — |
Reya OPRUSDPERP
Variational Omni OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$82.91
- Price spread: −0.597% → 0.000%
- −$59.73
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$148.64
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 41 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 Variational Omni RFQ quote, 41 min ago | 7.90 bp | doesn't fit | 39.5 bp −$395 | 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 | 0.1256 | −0.449% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1262 | −0.013% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1253 | −0.687% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1263 | +0.090% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1262 | +0.026% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1262 | +0.014% | — | — | 150x | as long as short |
| Variational Omni OPshort | +0.0042% | 8h | 0.1254 | −0.597% | $233K | $48K | — | |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1262 | +0.026% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1263 | +0.137% | $275K | $904K | 15x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1262 | +0.018% | $5.9M | $29.7M | 50x | 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
Orderly PERP_OP_USDC
Lighter OP
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1265 | +0.232% | $4.1M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1264 | +0.153% | $211K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1263 | +0.088% | $20.5M | $62.2M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1261 | −0.029% | $18.4M | $25.2M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1263 | +0.106% | $1.8M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1263 | +0.074% | $20.0M | $7.0M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1262 | +0.026% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1263 | +0.106% | $6.0M | $6.2M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1263 | +0.106% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | +0.018% | $125K | $190K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1258 | −0.301% | $9K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1258 | −0.311% | $314K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1259 | −0.211% | $45K | $723K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1262 | +0.003% | $178 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1262 | +0.058% | $175K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | +0.114% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1262 | −0.001% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1262 | +0.042% | $1.0M | $281K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0228% | 1h | 0.1263 | +0.092% | $788K | $740K | 20x | as long as short |
| Reya OPRUSDPERPlong | +0.0437% | 1h | 0.1262 | long leg | $702 | — | 20x |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
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
BloFin OP-USDT
Kraken Futures PF_OPUSD