OP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0081%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h +0.033%

Price spread now: Reya against Kraken Futures−0.106%48s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 0.106% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.106% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 4.4 days of funding at the current rate (+$2 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_OPUSD	0.1281	0.0357	pay 0.0045% / 1h	39m 29s	$801K	$745K	20x
Short	Reya OPRUSDPERP	0.1280	0.0437	get 0.0055% / 1h	39m 29s	$712	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.106%Rate

Funding earned: $16.93
Price spread: −0.106% → 0.000%: −$10.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$9.69
Costs to cover: 0.160%
Break-even: 11.0 days

Slippage unknown: Kraken Futures: live order book, 39 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 Kraken Futures live order book, 39 min ago	8.20 bp	33.6 bp −$34	121.0 bp −$1,210	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	−0.1633%	1h	0.1274	−0.560%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	−0.066%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1276	−0.404%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1280	−0.105%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1281	−0.014%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1281	−0.030%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1280	−0.092%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0072%	8h	0.1280	−0.073%	$234K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1281	+0.002%	$291K	$922K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1281	+0.025%	$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	0.1281	−0.046%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1280	−0.107%	$20.7M	$61.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1279	−0.154%	$18.6M	$25.8M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1280	−0.107%	$6.1M	$30.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	−0.068%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1280	−0.107%	$20.3M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1280	−0.092%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1280	−0.092%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1280	−0.107%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.154%	$125K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1280	−0.064%	$9K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1282	+0.073%	$320K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1281	−0.014%	$46K	$721K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1280	−0.131%	$198	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1281	+0.018%	$177K	$236K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1280	−0.121%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1280	−0.053%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1281	+0.002%	$1.0M	$292K	75x	as long as short
Kraken Futures PF_OPUSDlong	+0.0357%	1h	0.1281	long leg	$801K	$745K	20x
Reya OPRUSDPERPshort	+0.0437%	1h	0.1280	−0.106%	$712	—	20x