Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.055%

Price spread now: Reya against Phemex−0.077%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Reya is 0.077% cheaper against Phemex than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 48 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ATOMUSDT	1.7740	0.0100	pay 0.0100% / 8h	1m 14s	$1.5M	$2.0M	50x
Short	Reya ATOMRUSDPERP	1.7726	0.0228	get 0.0029% / 1h	1m 14s	$2K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Phemex. 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 PhemexbpFee ReyabpOrdersPrice spread, now −0.077%Rate

Funding earned: $26.93
Price spread: −0.077% → 0.000%: −$7.69
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $1.24
Costs to cover: 0.180%
Break-even: 6.7 days

Slippage unknown: Phemex: live order book, 2 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 Phemex live order book, 2 min ago	2.82 bp	15.9 bp −$16	42.3 bp −$423	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.

ATOM 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
Kraken Futures PF_ATOMUSD	−0.0071%	1h	1.7731	−0.051%	$2.9M	$828K	50x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.7726	−0.076%	$62K	$5K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.7725	−0.085%	$487	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.7727	−0.074%	$9K	—	150x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.7710	−0.169%	$3.1M	$937K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.7740	+0.002%	$964K	$146K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.7733	−0.041%	$21.2M	$32.8M	75x	as long as short
Bybit ATOMUSDT	+0.0100%	8h	1.7720	−0.113%	$15.0M	$10.4M	75x	as long as short
OKX ATOM-USDT-SWAP	+0.0100%	8h	1.7720	−0.113%	$5.0M	$6.1M	50x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.7720	−0.113%	$2.4M	$868K	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ATOM_USDT	+0.0100%	8h	1.7710	−0.169%	$8.2M	$5.3M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.7710	−0.169%	$1.5M	$718K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.7720	−0.113%	$6.6M	$3.2M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.7730	−0.056%	—	$3.8M	—	as long as short
Variational Omni ATOM	+0.0100%	8h	1.7693	−0.267%	$562K	$84K	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.7716	−0.137%	$436K	$297K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.7728	−0.068%	$755K	$2.6M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.7715	−0.141%	$309K	$156K	75x	as long as short
Phemex ATOMUSDTlong	+0.0100%	8h	1.7740	long leg	$1.5M	$2.0M	50x
Extended ATOM-USD	+0.0104%	1h	1.7715	−0.140%	$8K	$276K	10x	as long as short
BloFin ATOM-USDT	+0.0117%	8h	1.7720	−0.113%	$932K	$355K	75x	as long as short
Coinbase International ATOM-PERP-INTX	+0.0120%	1h	1.7700	−0.225%	$24K	$4K	25x	as long as short
Injective ATOM/USDC PERP	+0.0140%	1h	1.7730	−0.056%	$647	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]	L +0.0197% / S −0.1340%	1h	1.7734	−0.032%	$2K	—	120x	as long as short
Reya ATOMRUSDPERPshort	+0.0228%	1h	1.7726	−0.077%	$2K	—	25x