S

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0197%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.053%

Price spread now: Reya against Lighter−0.096%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.096% cheaper against Lighter than usual: you would sell low and buy high (−$10 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	Lighter S	0.04132	0.0096	pay 0.0012% / 1h	30m 46s	$172K	$156K	5x
Short	Reya SRUSDPERP	0.04128	−0.0101	pay 0.0013% / 1h	30m 46s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Lighter. 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 LighterbpFee ReyabpOrdersPrice spread, now −0.096%Rate

Funding earned: −$41.42
Price spread: −0.096% → 0.000%: −$9.64
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$57.05
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 14 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 Lighter live order book, 14 min ago	15.83 bp	18.2 bp −$18	94.5 bp −$945	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.

S on 25 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
01 Exchange SUSD	−1.1432%	1h	0.03950	−4.405%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1666%	1h	0.04123	−0.220%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−2.662%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0208%	4h	0.04122	−0.250%	$639K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04130	−0.056%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.04128	−0.096%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04129	−0.065%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.774%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.04129	−0.073%	$103K	$331K	10x	as long as short
Lighter Slong	+0.0096%	1h	0.04132	long leg	$172K	$156K	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04132	−0.007%	$1.0M	$554K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04130	−0.040%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04116	−0.389%	$5.7M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04111	−0.508%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04119	−0.315%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04115	−0.411%	$338K	$200K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04120	−0.290%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04120	−0.290%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04119	−0.315%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04116	−0.387%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04110	−0.532%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04129	−0.083%	$234K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04123	−0.218%	$283K	$106K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0719%	1h	0.04132	0.000%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1654%	1h	0.04140	+0.194%	$122K	$365K	5x	as long as short