Funding you earn now, next payment 22:00 UTC−0.0197%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.046%
Price spread now: Reya against Lighter−0.239%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 airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.239% cheaper against Lighter than usual: you would sell low and buy high (−$24 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 | Lighter S | 0.03931 | 0.0096 | pay 0.0012% / 1h | 25m 59s | $165K | $240K | 5x |
| Short | Reya SRUSDPERP | 0.03922 | −0.0101 | pay 0.0013% / 1h | 25m 59s | $4 | — | 15x |
Lighter S
Reya SRUSDPERPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.42
- Price spread: −0.239% → 0.000%
- −$23.88
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$71.3
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 57 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, 57 min ago | 12.59 bp | 17.3 bp −$17 | 78.4 bp −$784 | 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.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SUSD | −0.1454% | 1h | 0.03924 | −0.173% | $33K | $30K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1264% | 1h | 0.03826 | −2.671% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.1055% | 4h | 0.03895 | −0.908% | $606K | $34K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0189% / S +0.0183% | 1h | 0.03931 | −0.008% | $1K | — | 100x | as long as short |
| Reya SRUSDPERPshort | −0.0101% | 1h | 0.03922 | −0.239% | $4 | — | 15x | |
| Orderly PERP_S_USDC | −0.0016% | 4h | 0.03927 | −0.102% | $101K | $337K | 10x | as long as short |
| Aster SUSDT | −0.0009% | 4h | 0.03931 | +0.001% | $43K | $212K | 10x | as long as short |
| 01 Exchange SUSD | 0.0000% | 1h | 0.03920 | −0.280% | $24K | $3K | 5x | as long as short |
| Deribit S_USDC-PERPETUAL | 0.0000% | 1h | 0.03932 | +0.025% | $66K | $10K | 10x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03930 | −0.037% | $606 | — | 150x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Orderly PERP_S_USDC
Aster SUSDT
01 Exchange SUSD
Deribit S_USDC-PERPETUAL
gTrade (Gains Network) S/USDShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.299% | $2K | $37K | 12x | as long as short |
| Lighter Slong | +0.0096% | 1h | 0.03931 | long leg | $165K | $240K | 5x | |
| Hyperliquid S | +0.0100% | 1h | 0.03928 | −0.079% | $992K | $912K | 5x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03927 | −0.095% | $5.4M | $23.5M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03923 | −0.204% | $5.6M | $6.4M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03927 | −0.102% | $976K | $7.4M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03922 | −0.229% | $321K | $292K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03927 | −0.102% | $3.5M | $2.6M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03924 | −0.178% | $1.8M | $3.1M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03929 | −0.051% | $1.2M | $3.0M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03926 | −0.127% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03900 | −0.789% | $19K | $470K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03927 | −0.113% | $221K | $883K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03908 | −0.585% | $268K | $158K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0368% | 1h | 0.03930 | −0.025% | $114K | $291K | 5x | as long as short |
Injective S/USDC PERP
Hyperliquid S
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Backpack S_USDC_PERP