Heat a skillet over medium-low heat and spray with non-stick cooking spray. Crack eggs into the skillet and let cook for 1-2 minutes, flip and let cook for another minute.
Place one fried egg on two slices of bread. Sprinkle each with 1/4 cup shredded cheddar cheese and top with the remaining bread.
Spread butter on the outsides of the bread. Cook the sandwiches in a clean skillet over medium heat until lightly browned. Flip and cook the other side until both sides lightly browned.