Funding you earn now, next payment 05:00 UTC−0.0342%/8h= −37.4% APRpaid last 24h −0.124%
Price spread now: Binance against Reya−0.045%7-day average — · you buy dearer than you sell
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
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Binance is 0.045% cheaper against Reya than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya OPRUSDPERP | 0.1263 | 0.0442 | pay 0.0055% / 1h | 23m 11s | $702 | — | 20x |
| Short | Binance OPUSDT | 0.1262 | 0.0100 | get 0.0100% / 8h | 3h 23m | $20.4M | $61.0M | 75x |
Reya OPRUSDPERP
Binance OPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$71.78
- Price spread: −0.045% → 0.000%
- −$4.52
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$92.3
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Binance: live order book, 4 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 Binance live order book, 4 min ago | 0.40 bp | 8.9 bp −$9 | 16.9 bp −$169 | 80.6 bp −$8,058 | 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 | −0.1568% | 1h | 0.1258 | −0.361% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1263 | +0.055% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | +0.095% | $39K | $532 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1263 | +0.035% | $42K | $138K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1263 | +0.035% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1270 | +0.589% | $25K | $58K | 50x | as long as short |
| Variational Omni OP | +0.0045% | 8h | 0.1264 | +0.099% | $223K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1263 | +0.035% | $6K | $46K | 10x | as long as short |
| Kraken Futures PF_OPUSD | +0.0057% | 1h | 0.1263 | +0.039% | $775K | $553K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0092% | 8h | 0.1262 | −0.068% | $6.2M | $28.5M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTX
Variational Omni OP
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1263 | +0.019% | $274K | $946K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1263 | +0.019% | $3.7M | $2.8M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1263 | +0.071% | $211K | $216K | 10x | as long as short |
| Binance OPUSDTshort | +0.0100% | 8h | 0.1262 | −0.045% | $20.4M | $61.0M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1262 | −0.045% | $18.6M | $24.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1263 | +0.035% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1262 | −0.013% | $21.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1263 | +0.035% | $2.8M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1262 | −0.045% | $5.8M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1263 | +0.035% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | −0.076% | $117K | $207K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1265 | +0.188% | $4K | $385K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1264 | +0.095% | $306K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1266 | +0.272% | $43K | $709K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1262 | −0.052% | $195 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1263 | +0.027% | $171K | $231K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1262 | −0.043% | $102K | $393K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1263 | +0.005% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1261 | −0.108% | $1.0M | $279K | 75x | as long as short |
| Reya OPRUSDPERPlong | +0.0442% | 1h | 0.1263 | long leg | $702 | — | 20x |
Lighter OP
Hyperliquid OP
Aster OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT