Funding you earn now, next payment 09:00 UTC−0.0291%/8h= −31.9% APRnext payment −$0.36 per $10,000 · paid last 24h −0.054%
Price spread now: Kraken Futures against Reya+0.049%48s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread pays, funding is against you. Kraken Futures is 0.049% dearer against Reya than usual: you sell high and buy low (spread +0.049% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 14 hours. 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 | Reya OPRUSDPERP | 0.1258 | 0.0445 | pay 0.0056% / 1h | 21m 23s | $700 | — | 20x |
| Short | Kraken Futures PF_OPUSD | 0.1259 | 0.0154 | get 0.0019% / 1h | 21m 23s | $745K | $731K | 20x |
Reya OPRUSDPERP
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$61.19
- Price spread: +0.049% → 0.000%
- $4.94
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$72.24
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 12 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 Kraken Futures live order book, 12 min ago | 10.46 bp | 20.2 bp −$20 | 97.2 bp −$972 | 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 | −0.1328% | 1h | 0.1235 | −1.864% | $34K | $63K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1256 | −0.163% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0049% | 8h | 0.1258 | −0.036% | $12K | $234K | 10x | as long as short |
| KuCoin OPUSDTM | −0.0004% | 8h | 0.1257 | −0.116% | $2.9M | $6.1M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1259 | +0.023% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1258 | −0.036% | $31K | $163K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S +0.0001% | 1h | 0.1258 | −0.057% | $1K | — | 150x | as long as short |
| Variational Omni OP | +0.0057% | 8h | 0.1240 | −1.490% | $220K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1259 | +0.027% | $291K | $1.1M | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1259 | +0.019% | $3.5M | $3.7M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
KuCoin OPUSDTM
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1258 | −0.005% | $203K | $214K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1259 | +0.054% | $19.4M | $68.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1259 | +0.019% | $18.3M | $26.4M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1259 | +0.075% | $6.0M | $29.8M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1259 | +0.035% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1258 | +0.003% | $22.4M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1258 | −0.036% | $5.8M | $6.9M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1258 | −0.036% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1257 | −0.108% | $113K | $223K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1252 | −0.475% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1255 | −0.270% | $305K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1254 | −0.354% | $43K | $692K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1257 | −0.108% | $196 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1260 | +0.123% | $167K | $262K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1257 | −0.083% | $100K | $608K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1259 | +0.029% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1244 | −1.149% | $25K | $69K | 50x | as long as short |
| Kraken Futures PF_OPUSDshort | +0.0154% | 1h | 0.1259 | +0.049% | $745K | $731K | 20x | |
| BloFin OP-USDT | +0.0220% | 8h | 0.1256 | −0.203% | $994K | $326K | 75x | as long as short |
| Reya OPRUSDPERPlong | +0.0445% | 1h | 0.1258 | long leg | $700 | — | 20x |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
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
Coinbase International OP-PERP-INTX
BloFin OP-USDT