Funding you earn now, next payment 05:00 UTC+0.0197%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h +0.057%
Price spread now: Lighter against Reya+0.323%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 · Lighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.323% dearer against Reya than usual: you sell high and buy low: +$32 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 | 0.03999 | −0.0101 | get 0.0013% / 1h | 55m 45s | $4 | — | 15x |
| Short | Lighter S | 0.04012 | 0.0096 | get 0.0012% / 1h | 55m 45s | $168K | $155K | 5x |
Reya SRUSDPERP
Lighter SFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $41.41
- Price spread: +0.323% → 0.000%
- $32.25
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $67.67
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Lighter: live order book, 44 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 Lighter live order book, 44 min ago | 12.31 bp | 31.7 bp −$32 | 109.3 bp −$1,093 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SUSD | −0.2224% | 1h | 0.04005 | +0.156% | $33K | $13K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1344% | 1h | 0.03928 | −1.778% | $47K | $16K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04005 | +0.150% | $1K | — | 100x | as long as short |
| Reya SRUSDPERPlong | −0.0101% | 1h | 0.03999 | long leg | $4 | — | 15x | |
| Variational Omni S | −0.0033% | 4h | 0.04003 | +0.092% | $620K | $30K | — | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04006 | +0.173% | $617 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +2.523% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDC | +0.0075% | 4h | 0.04011 | +0.298% | $100K | $271K | 10x | as long as short |
| Lighter Sshort | +0.0096% | 1h | 0.04012 | +0.323% | $168K | $155K | 5x | |
| Hyperliquid S | +0.0100% | 1h | 0.04009 | +0.253% | $1.0M | $597K | 5x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Variational Omni S
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Orderly PERP_S_USDC
Hyperliquid SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SUSDT | +0.0100% | 4h | 0.04010 | +0.276% | $44K | $139K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04010 | +0.277% | $5.5M | $14.0M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03999 | −0.003% | $5.7M | $4.6M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04003 | +0.097% | $1.0M | $3.9M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04011 | +0.298% | $327K | $189K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04006 | +0.173% | $3.7M | $1.7M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04006 | +0.173% | $1.8M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04012 | +0.323% | $1.2M | $2.3M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04006 | +0.173% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03940 | −1.478% | $24K | $461K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04008 | +0.214% | $225K | $1.1M | 10x | as long as short |
| 01 Exchange SUSD | +0.0208% | 1h | 0.03970 | −0.728% | $25K | $2K | 5x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03949 | −1.253% | $269K | $99K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.1246% | 1h | 0.04016 | +0.423% | $68K | $10K | 10x | as long as short |
| Backpack S_USDC_PERP | +0.2266% | 1h | 0.04020 | +0.523% | $117K | $424K | 5x | 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
BloFin S-USDT
Deribit S_USDC-PERPETUAL
Backpack S_USDC_PERP