Funding you earn now, next payment 02:00 UTC+0.0201%/8h= +22.0% APRnext payment +$0.25 per $10,000 · paid last 24h +0.042%
Price spread now: Hyperliquid against Reya+0.045%7-day average — · you sell dearer than you buy
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 · Hyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.045% dearer against Reya than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya SRUSDPERP | 0.03954 | −0.0101 | get 0.0013% / 1h | 55m 49s | $4 | — | 15x |
| Short | Hyperliquid S | 0.03956 | 0.0100 | get 0.0013% / 1h | 55m 49s | $989K | $623K | 5x |
Reya SRUSDPERP
Hyperliquid SFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $42.26
- Price spread: +0.045% → 0.000%
- $4.48
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $31.74
- Costs to cover
- 0.150%
- Break-even
- 1.7 days
Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 4 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, 4 min ago | 1.63 bp | 13.8 bp −$14 | 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International S-PERP-INTX | −0.1464% | 1h | 0.03946 | −0.206% | $49K | $5K | 25x | as long as short |
| Kraken Futures PF_SUSD | −0.1284% | 1h | 0.03945 | −0.223% | $33K | $23K | 10x | as long as short |
| Variational Omni S | −0.0631% | 4h | 0.03947 | −0.170% | $614K | $30K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.03956 | +0.050% | $1K | — | 100x | as long as short |
| Reya SRUSDPERPlong | −0.0101% | 1h | 0.03954 | long leg | $4 | — | 15x | |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03955 | +0.022% | $610 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +3.689% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDC | +0.0038% | 4h | 0.03952 | −0.054% | $101K | $331K | 10x | as long as short |
| Lighter S | +0.0096% | 1h | 0.03959 | +0.123% | $163K | $164K | 5x | as long as short |
| Hyperliquid Sshort | +0.0100% | 1h | 0.03956 | +0.045% | $989K | $623K | 5x |
Coinbase International S-PERP-INTX
Kraken Futures PF_SUSD
Variational Omni S
GMX S/USD [WBTC.b-USDC]
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Orderly PERP_S_USDC
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SUSDT | +0.0100% | 4h | 0.03961 | +0.179% | $43K | $141K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03953 | −0.019% | $5.4M | $15.4M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03954 | −0.003% | $5.6M | $4.9M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03956 | +0.047% | $966K | $4.3M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03951 | −0.079% | $325K | $199K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03958 | +0.098% | $3.6M | $1.8M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03959 | +0.123% | $1.8M | $2.9M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03953 | −0.029% | $1.2M | $2.4M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03955 | +0.022% | — | $6.7M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04000 | +1.160% | $26K | $446K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03956 | +0.037% | $223K | $1.1M | 10x | as long as short |
| 01 Exchange SUSD | +0.0104% | 1h | 0.03950 | −0.104% | $24K | $2K | 5x | as long as short |
| Backpack S_USDC_PERP | +0.0165% | 1h | 0.03960 | +0.148% | $115K | $329K | 5x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0256% | 1h | 0.03957 | +0.073% | $67K | $10K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03986 | +0.806% | $270K | $120K | 75x | as long as short |
Aster SUSDT
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
01 Exchange SUSD
Backpack S_USDC_PERP
Deribit S_USDC-PERPETUAL
BloFin S-USDT