Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0179%/8h= −19.6% APRpaid last 24h −0.058%

Price spread now: MEXC against Reya+0.021%7-day average — · you sell dearer than you buy

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

Long on Reya Short on MEXC

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

The price spread pays, funding is against you. MEXC is 0.021% dearer against Reya than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ADARUSDPERP	0.2447	0.0279	pay 0.0035% / 1h	45m 22s	$1K	—	15x
Short	MEXC ADA_USDT	0.2448	0.0100	get 0.0100% / 8h	4h 45m	$61.0M	$60.0M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Reya. 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 ReyabpFee MEXCbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$37.55
Price spread: +0.021% → 0.000%: $2.13
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: −$41.42
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; MEXC: 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 MEXC live order book, 4 min ago	2.05 bp	2.0 bp −$2	4.6 bp −$46	14.9 bp −$1,487	35.0 bp −$17.5K

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.

ADA on 37 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
dYdX ADA-USD	0.0000%	1h	0.2446	−0.048%	$201K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2448	+0.021%	$159K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2446	−0.045%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.961%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2444	−0.142%	$430K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2448	+0.009%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2448	+0.013%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.033%	$1.2M	$982K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.031%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	+0.021%	$103.5M	$372.8M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.060%	$71.3M	$111.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	+0.062%	$32.6M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.060%	$97.9M	$59.1M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2448	+0.021%	$61.0M	$60.0M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.005%	$29.5M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	−0.020%	$65.7M	$50.1M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2448	+0.021%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	+0.025%	$124K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2446	−0.058%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	−0.070%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	−0.061%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.142%	$225K	$742K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	+0.009%	$93K	$686K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	−0.020%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	−0.003%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.022%	$9K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2448	+0.021%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	+0.056%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	−0.020%	$47.7M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.005%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2448	+0.001%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0115%	1h	0.2449	+0.079%	$42.5M	$14.9M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2450	+0.103%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2446	−0.060%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERPlong	+0.0279%	1h	0.2447	long leg	$1K	—	15x
Deribit ADA_USDC-PERPETUAL	+0.0568%	1h	0.2448	+0.029%	$592K	$494K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0591% / S −0.0547%	1h	0.2446	−0.049%	$132K	—	100x	as long as short