Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.030%

Price spread now: Reya against OKX−0.005%7-day average −0.023% · you buy dearer than you sell

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

Long on OKX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.081%+$8 on $10k

Price spread, last 7 days−0.028%−$3 · spread now −0.005%, 7d avg −0.023%

Together, before fees+0.053%+ Points / potential airdropReya: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ETH-USDT-SWAP	2,772.6	0.0029	pay 0.0029% / 8h	7h 14m	$1.71B	$11.13B	100x
Short	Reya ETHRUSDPERP	2,772.5	0.0213	get 0.0027% / 1h	14m 26s	$7.3M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against OKX. 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 OKXbpFee ReyabpOrdersPrice spread, now −0.005%Rate

Funding earned: $38.79
Price spread: −0.005% → −0.023%: $1.77
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $24.57
Costs to cover: 0.160%
Break-even: 2.6 days

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.3 bp −$632	8.3 bp −$4,137
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.

ETH on 55 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
Injective ETH/USDC PERP	−0.0752%	1h	2,765.8	−0.246%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,772	−0.021%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,771	−0.057%	$340K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.1	−0.054%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,771.8	−0.029%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.2	−0.087%	$874K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.8	−0.030%	$12.3M	$43.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.5	+0.034%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0016%	1h	2,772.6	−0.001%	$185K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAPlong	+0.0029%	8h	2,772.6	long leg	$1.71B	$11.13B	100x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0033%	1h	2,770.2	−0.087%	$55.2M	$188.0M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,773.3	+0.026%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0050%	8h	2,772.6	−0.001%	$256.8M	$885.9M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,767.7	−0.177%	$5.0M	$165K	20x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,772.9	+0.011%	$1.62B	$2.66B	500x	as long as short
Phemex ETHUSDT	+0.0060%	8h	2,770.1	−0.092%	$269.6M	$67.1M	150x	as long as short
Binance ETHUSDT	+0.0061%	8h	2,772.9	+0.009%	$6.48B	$16.26B	150x	as long as short
Gate ETH_USDT	+0.0076%	8h	2,773.1	+0.016%	$3.38B	$9.08B	200x	as long as short
Bitget ETHUSDT	+0.0077%	8h	2,772.9	+0.010%	$2.10B	$2.86B	150x	as long as short
Aftermath Perps ETHUSD	+0.0079%	1h	2,770.5	−0.075%	$31K	$21K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.6	−0.035%	$60.4M	$4.43B	50x	as long as short
Vest ETH-PERP	+0.0081%	1h	2,772.1	−0.019%	—	$876K	50x	as long as short
HTX ETH-USDT	+0.0088%	8h	2,769.6	−0.109%	$1.08B	$1.24B	200x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,772.1	−0.020%	$421.0M	$604.1M	100x	as long as short
ApeX Omni ETHUSDT	+0.0094%	1h	2,768.5	−0.149%	$8.6M	$32.1M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,771.6	−0.038%	$115.1M	$459.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,773	+0.014%	$25.6M	$111.8M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,775.3	+0.099%	$15.9M	$8.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.7	−0.033%	$488K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.8	−0.029%	$14.6M	$113.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.8	+0.079%	$3.17B	$2.19B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.8	−0.029%	$31.2M	$328.0M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,773.2	+0.023%	$2.52B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.8	−0.065%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.4	−0.009%	$2.8M	$16.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.327%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,773	+0.014%	—	$1.21B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770.1	−0.092%	$15.1M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.4	−0.151%	$133.7M	$347.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,766.7	−0.213%	$181.6M	$786.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,766.3	−0.229%	$161.0M	$84.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,769.2	−0.123%	$21.4M	$64.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,772.6	0.000%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.9	+0.011%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.1	−0.019%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.6	−0.109%	$970K	$12.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.6	−0.071%	$30.9M	$75.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.8	−0.066%	—	$36.2M	500x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,771	−0.058%	$8.2M	$677.1M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.8	−0.031%	$97.9M	$320.6M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,771.2	−0.051%	$253K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0155%	8h	2,775.3	+0.098%	$32.7M	$11.1M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,769.8	−0.101%	$288.0M	$178.8M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0183%	1h	2,771.7	−0.031%	$259.1M	$203.2M	50x	as long as short
Reya ETHRUSDPERPshort	+0.0213%	1h	2,772.5	−0.005%	$7.3M	$1.1M	25x