Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h —

Price spread now: Reya against MEXC−24.739%48s7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Reya is 24.739% cheaper against MEXC than usual: you would sell low and buy high (−$2,474 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC GRIFFAIN_USDT	0.01564	0.0230	pay 0.0115% / 4h	22m 42s	$282K	$115K	100x
Short	Reya GRIFFAINRUSDPERP	0.01177	0	get 0.0000% / 1h	22m 42s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee ReyabpOrdersPrice spread, now −24.739%Rate

Funding earned: −$48.3
Price spread: −24.739% → 0.000%: −$2,473.86
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,532.16
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 62 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 MEXC live order book, 62 min ago	6.33 bp	18.5 bp −$19	79.8 bp −$798	575.1 bp −$57.5K	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.

GRIFFAIN on 12 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
KuCoin GRIFFAINUSDTM	−0.0120%	4h	0.01561	−0.192%	$467K	$46K	20x	as long as short
Reya GRIFFAINRUSDPERPshort	0.0000%	1h	0.01177	−24.739%	—	—	—
Hyperliquid GRIFFAIN	+0.0100%	1h	0.01565	+0.058%	$1.2M	$102K	3x	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01564	0.000%	$762K	$492K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01562	−0.128%	$425K	$85K	10x	as long as short
Bitget GRIFFAINUSDT	+0.0172%	4h	0.01565	+0.064%	$353K	$285K	10x	as long as short
MEXC GRIFFAIN_USDTlong	+0.0230%	4h	0.01564	long leg	$282K	$115K	100x
Binance GRIFFAINUSDT	+0.0231%	4h	0.01565	+0.060%	$4.2M	$1.9M	20x	as long as short
BloFin GRIFFAIN-USDT	+0.0249%	4h	0.01564	0.000%	$274K	$11K	20x	as long as short
BingX GRIFFAIN-USDT	+0.0264%	4h	0.01566	+0.109%	—	$6.5M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0311%	4h	0.01562	−0.150%	$15K	$16K	5x	as long as short
Kraken Futures PF_GRIFFAINUSD	+0.5412%	1h	0.01571	+0.435%	$18K	$17K	10x	as long as short