Funding you earn now, next payment 03:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.019%
Price spread now: Reya against Kalshi−0.011%7-day average −0.033% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.044%+$4 on $10k
+Price spread, last 7 days−0.034%−$3 · spread now −0.011%, 7d avg −0.033%
=Together, before fees+0.010%+ Points / potential airdropReya: Active · farm board+$1 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Reya is 0.022% dearer against Kalshi than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.033%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 12 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBTCPERP | 85,811 | 0.0219 | pay 0.0219% / 8h | 1h 10m | $10.6M | $758.2M | 6.4x |
| Short | Reya BTCRUSDPERP | 85,801.8 | 0.0073 | get 0.0009% / 1h | 10m 37s | $6.7M | $146.5M | 40x |
Kalshi KXBTCPERP
Reya BTCRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya against Kalshi. 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
- −$30.72
- Price spread: −0.011% → −0.033%
- $2.18
- Slippage, 4 orders
- no order book: not counted
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$44.54
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kalshi: live order book, 4 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 Kalshi live order book, 4 min ago | 0.17 bp | 5.5 bp −$5 | 6.6 bp −$66 | 7.3 bp −$726 | 11.7 bp −$5,861 |
| 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.
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0618% | 1h | 85,862.9 | +0.060% | $197K | $721K | 40x | as long as short |
| Phoenix BTC | −0.0160% | 1h | 85,728 | −0.097% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,786 | −0.029% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,806.8 | −0.005% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,822.6 | +0.014% | $418.0M | $666.5M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,840.8 | +0.035% | $16.8M | $21.2M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0004% | 8h | 85,824.9 | +0.016% | $920.4M | $751.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,824.8 | +0.016% | $36.7M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0013% | 1h | 85,803.4 | −0.009% | $22.6M | $219.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0020% | 8h | 85,823 | +0.014% | $517.0M | $1.10B | 200x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0057% | 8h | 85,829.7 | +0.022% | — | $17.0M | — | as long as short |
| Bitget BTCUSDT | +0.0072% | 8h | 85,843.8 | +0.038% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERPshort | +0.0073% | 1h | 85,801.8 | −0.011% | $6.7M | $146.5M | 40x | |
| Phemex BTCUSDT | +0.0075% | 8h | 85,822.2 | +0.013% | $149.1M | $479.8M | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,807 | −0.005% | $341K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,815.9 | +0.006% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,841 | +0.035% | $5.08B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,840.8 | +0.035% | $9.36B | $23.87B | 150x | as long as short |
| HTX BTC-USDT | +0.0090% | 8h | 85,812.5 | +0.002% | $2.27B | $936.0M | 200x | as long as short |
| SoDEX BTC-USD | +0.0095% | 1h | 85,821 | +0.012% | $60.1M | $336.2M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,850.8 | +0.046% | $174.8M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,852 | +0.048% | $24.0M | $149.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,803 | −0.009% | $8.4M | $52.2M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,882.4 | +0.083% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,779 | −0.037% | $198K | $7.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,918 | +0.125% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,872.8 | +0.072% | $40.2M | $577.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,846 | +0.041% | $5.34B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,850.3 | +0.046% | $2.58B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,827 | +0.019% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,817.6 | +0.008% | $6.8M | $97.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,800.8 | −0.012% | $635.6M | $478.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,848.1 | +0.043% | $5.56B | $10.56B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,822.9 | +0.014% | $35.4M | $172.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,777.2 | −0.039% | $157.4M | $555.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,749.7 | −0.071% | $280.1M | $916.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,776.3 | −0.040% | $215.4M | $165.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,774.1 | −0.043% | $140.3M | $314.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,752.8 | −0.068% | $30.3M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,843.8 | +0.038% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,806 | −0.006% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,810 | −0.001% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,808.7 | −0.003% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,817.1 | +0.007% | $30.1M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,802.9 | −0.009% | $2.9M | $6.1M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,821.5 | +0.012% | $44.2M | $226.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,759.1 | −0.060% | — | $105.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,864.7 | +0.063% | $126.0M | $5.11B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,833.1 | +0.026% | $8.4M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,852.2 | +0.048% | $189.4M | $952.6M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0162% | 1h | 85,868.3 | +0.067% | $891.6M | $1.52B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 85,792 | −0.022% | $704K | $7.8M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,818.7 | +0.009% | $13.6M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,796.9 | −0.016% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERPlong | +0.0219% | 8h | 85,811 | long leg | $10.6M | $758.2M | 6.4x | |
| Perpl BTC | +0.0447% | 43m | 85,801.9 | −0.011% | $503K | $19.3M | 6.7x | as long as short |
BingX BTC-USDC
Bitget BTCUSDT
Phemex BTCUSDT
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
HTX BTC-USDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Perpl BTC