Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0336%/8h= +36.7% APRpaid last 24h +0.098%

Price spread now: Reya against Aster−0.028%56s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

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 airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.028% cheaper against Aster than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day). The two prices were read 56 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	Aster OPUSDT	0.1244	0.0100	pay 0.0100% / 8h	2h 50m	$209K	$243K	10x
Short	Reya OPRUSDPERP	0.1244	0.0436	get 0.0054% / 1h	50m 39s	$692	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −0.028%Rate

Funding earned: $70.47
Price spread: −0.028% → 0.000%: −$2.83
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $53.64
Costs to cover: 0.140%
Break-even: 1.7 days

Slippage unknown: Aster: live order book, 36 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 Aster live order book, 36 min ago	11.58 bp	20.7 bp −$21	doesn't fit	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.

OP on 30 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 OP/USDC PERP	−0.1658%	1h	0.1240	−0.330%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1244	−0.031%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−0.088%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1245	+0.072%	$38K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1245	+0.072%	$41K	$164K	25x	as long as short
Variational Omni OP	+0.0002%	8h	0.1243	−0.116%	$227K	$44K	—	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1245	+0.066%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0027%	8h	0.1244	−0.008%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0095%	8h	0.1245	+0.080%	$5.7M	$29.3M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1245	+0.088%	$266K	$899K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate OP_USDT	+0.0099%	8h	0.1244	+0.008%	$1.8M	$1.4M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1246	+0.121%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDTlong	+0.0100%	8h	0.1244	long leg	$209K	$243K	10x
Binance OPUSDT	+0.0100%	8h	0.1245	+0.064%	$20.1M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1244	0.000%	$18.3M	$25.3M	75x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1245	+0.064%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1244	−0.008%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1245	+0.072%	$5.9M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1245	+0.072%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1244	−0.016%	$127K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1247	+0.234%	$9K	$380K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1250	+0.488%	$304K	$5.3M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1248	+0.313%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1244	−0.048%	$160	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1245	+0.056%	$172K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1245	+0.040%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1245	+0.062%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0138%	1h	0.1245	+0.076%	$769K	$742K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1244	−0.008%	$988K	$294K	75x	as long as short
Reya OPRUSDPERPshort	+0.0436%	1h	0.1244	−0.028%	$692	—	20x