S

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0465%/8h= −50.9% APRnext payment −$0.58 per $10,000 · paid last 24h −0.059%

Price spread now: Reya against Backpack−0.166%7-day average — · you buy dearer than you sell

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

Long on Backpack 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 airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Reya is 0.166% cheaper against Backpack than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.03930	0.0363	pay 0.0045% / 1h	55m 00s	$114K	$298K	5x
Short	Reya SRUSDPERP	0.03923	−0.0101	pay 0.0013% / 1h	55m 00s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now −0.166%Rate

Funding earned: −$97.59
Price spread: −0.166% → 0.000%: −$16.57
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$130.16
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 28 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 Backpack live order book, 28 min ago	12.71 bp	17.7 bp −$18	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.

S 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_SUSD	−0.1593%	1h	0.03923	−0.184%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.646%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0793%	4h	0.03918	−0.301%	$609K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0193% / S +0.0186%	1h	0.03930	+0.003%	$1K	—	100x	as long as short
01 Exchange SUSD	−0.0160%	1h	0.03920	−0.254%	$24K	$3K	5x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03923	−0.166%	$4	—	15x
Deribit S_USDC-PERPETUAL	−0.0004%	1h	0.03931	+0.025%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03930	−0.003%	$606	—	150x	as long as short
Hyperliquid S	+0.0009%	1h	0.03925	−0.130%	$985K	$878K	5x	as long as short
Orderly PERP_S_USDC	+0.0020%	4h	0.03926	−0.102%	$100K	$350K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.326%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0043%	4h	0.03927	−0.089%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03929	−0.025%	$165K	$222K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03925	−0.127%	$5.4M	$22.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03919	−0.280%	$5.6M	$6.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03924	−0.153%	$979K	$7.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03917	−0.331%	$320K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03927	−0.076%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03922	−0.204%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03924	−0.153%	$1.2M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03924	−0.153%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.254%	$23K	$469K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03923	−0.176%	$221K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03918	−0.305%	$268K	$132K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0363%	1h	0.03930	long leg	$114K	$298K	5x