OP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0341%/8h= −37.4% APRnext payment −$0.43 per $10,000 · paid last 24h −0.099%

Price spread now: Lighter against Reya+0.084%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.084% dearer against Reya than usual: you sell high and buy low (spread +0.084% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya OPRUSDPERP	0.1279	0.0437	pay 0.0055% / 1h	42m 17s	$711	—	20x
Short	Lighter OP	0.1280	0.0096	get 0.0012% / 1h	42m 17s	$291K	$922K	15x

Funding 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 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 ReyabpFee LighterbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$71.69
Price spread: +0.084% → 0.000%: $8.35
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$69.34
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 33 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, 33 min ago	3.90 bp	18.3 bp −$18	54.7 bp −$547	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	−0.1633%	1h	0.1277	−0.182%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	+0.016%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1280	+0.052%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1281	+0.116%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	+0.052%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	+0.058%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1280	+0.052%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0076%	8h	0.1282	+0.177%	$235K	$54K	—	as long as short
Lighter OPshort	+0.0096%	1h	0.1280	+0.084%	$291K	$922K	15x
Hyperliquid OP	+0.0100%	1h	0.1281	+0.130%	$4.1M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1280	+0.080%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1279	−0.026%	$20.7M	$61.8M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1279	−0.042%	$18.6M	$25.7M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1279	+0.005%	$6.1M	$30.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	+0.076%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1279	−0.010%	$20.3M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1279	−0.026%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1280	+0.052%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1279	+0.005%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1281	+0.099%	$125K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1282	+0.192%	$11K	$385K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1283	+0.276%	$321K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1283	+0.287%	$46K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1279	−0.042%	$197	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1280	+0.084%	$177K	$236K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1279	−0.016%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1279	+0.002%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1281	+0.146%	$1.0M	$292K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0357%	1h	0.1281	+0.120%	$801K	$745K	20x	as long as short
Reya OPRUSDPERPlong	+0.0437%	1h	0.1279	long leg	$711	—	20x