OP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0436%/8h= +47.8% APRnext payment +$0.55 per $10,000 · paid last 24h +0.173%

Price spread now: Reya against Deribit+0.110%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Reya

What this pair did over the last

the charts below follow

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Reya is 0.110% dearer against Deribit than usual: you sell high and buy low: +$11 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	Deribit OP_USDC-PERPETUAL	0.1255	0	get 0.0000% / 1h	46m 41s	$41K	$171K	25x
Short	Reya OPRUSDPERP	0.1256	0.0436	get 0.0055% / 1h	46m 41s	$699	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee ReyabpOrdersPrice spread, now +0.110%Rate

Funding earned: $91.66
Price spread: +0.110% → 0.000%: $10.99
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $89.65
Costs to cover: 0.130%
Break-even: 0.2 days

Slippage unknown: Deribit: live order book, 37 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 Deribit live order book, 37 min ago	7.89 bp	11.4 bp −$11	doesn't fit	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.

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	0.1250	−0.398%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1256	+0.112%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0360%	1h	0.1253	−0.159%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1255	+0.015%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUALlong	0.0000%	1h	0.1255	long leg	$41K	$171K	25x
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1257	+0.143%	—	—	150x	as long as short
Variational Omni OP	+0.0043%	8h	0.1255	−0.012%	$231K	$46K	—	as long as short
Orderly PERP_OP_USDC	+0.0052%	8h	0.1256	+0.080%	$6K	$49K	10x	as long as short
OKX OP-USDT-SWAP	+0.0096%	8h	0.1254	−0.048%	$5.8M	$29.6M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1256	+0.064%	$274K	$904K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1257	+0.151%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1256	+0.043%	$210K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1255	+0.038%	$20.4M	$62.3M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1254	−0.056%	$18.3M	$25.2M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1255	0.000%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1256	+0.072%	$19.9M	$7.0M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1255	0.000%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1255	0.000%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1254	−0.080%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1255	+0.008%	$124K	$190K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1256	+0.052%	$9K	$381K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1255	0.000%	$304K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1256	+0.080%	$45K	$722K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1255	−0.016%	$172	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1257	+0.127%	$174K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1254	−0.052%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1256	+0.045%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1255	+0.016%	$1.0M	$280K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0229%	1h	0.1256	+0.090%	$784K	$739K	20x	as long as short
Reya OPRUSDPERPshort	+0.0436%	1h	0.1256	+0.110%	$699	—	20x