OP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0442%/8h= +48.4% APRnext payment +$0.55 per $10,000 · paid last 24h +0.162%

Price spread now: Reya against Deribit−0.091%7-day average — · you buy dearer than you sell

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

Funding pays, the price is against you. Reya is 0.091% cheaper against Deribit than usual: you would sell low and buy high (spread −0.091% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 17 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit OP_USDC-PERPETUAL	0.1265	0	get 0.0000% / 1h	20m 56s	$42K	$138K	25x
Short	Reya OPRUSDPERP	0.1264	0.0442	get 0.0055% / 1h	20m 56s	$703	—	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 −0.091%Rate

Funding earned: $92.78
Price spread: −0.091% → 0.000%: −$9.14
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $70.64
Costs to cover: 0.130%
Break-even: 1.7 days

Slippage unknown: Deribit: live order book, 32 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, 32 min ago	7.83 bp	11.3 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	−0.1568%	1h	0.1256	−0.711%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	−0.067%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1263	−0.119%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUALlong	0.0000%	1h	0.1265	long leg	$42K	$138K	25x
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	−0.041%	—	—	150x	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1270	+0.395%	$25K	$57K	50x	as long as short
Variational Omni OP	+0.0045%	8h	0.1263	−0.172%	$223K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1264	−0.079%	$6K	$46K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0057%	1h	0.1265	−0.016%	$776K	$553K	20x	as long as short
OKX OP-USDT-SWAP	+0.0094%	8h	0.1263	−0.198%	$6.2M	$28.5M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1264	−0.063%	$275K	$946K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1263	−0.142%	$3.7M	$2.8M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1263	−0.129%	$211K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1262	−0.205%	$20.3M	$61.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1262	−0.277%	$18.5M	$24.9M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1264	−0.111%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1262	−0.213%	$21.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1262	−0.237%	$2.8M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1262	−0.237%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1263	−0.158%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1263	−0.198%	$117K	$207K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1262	−0.210%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1264	−0.097%	$306K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1263	−0.158%	$43K	$708K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1263	−0.126%	$201	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1264	−0.047%	$171K	$231K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1262	−0.250%	$102K	$393K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1264	−0.079%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1263	−0.126%	$1.0M	$280K	75x	as long as short
Reya OPRUSDPERPshort	+0.0442%	1h	0.1264	−0.091%	$703	—	20x