Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.060%

Price spread now: Reya against Bitget+0.174%7-day average — · you sell dearer than you buy

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

Long on Bitget 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

The price spread pays, funding is against you. Reya is 0.174% dearer against Bitget than usual: you sell high and buy low (spread +0.174% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.03928	0.0100	pay 0.0050% / 4h	2h 52m	$1.2M	$3.2M	50x
Short	Reya SRUSDPERP	0.03935	−0.0101	pay 0.0013% / 1h	52m 43s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now +0.174%Rate

Funding earned: −$42.26
Price spread: +0.174% → 0.000%: $17.41
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$42.85
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bitget: 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 Bitget live order book, 5 min ago	6.32 bp	23.6 bp −$24	62.3 bp −$623	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	−0.1450%	1h	0.03935	+0.169%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.597%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1189%	4h	0.03947	+0.483%	$614K	$42K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03940	+0.308%	$1K	—	100x	as long as short
01 Exchange SUSD	−0.0104%	1h	0.03940	+0.305%	$24K	$3K	5x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03935	+0.174%	$4	—	15x
Aster SUSDT	−0.0037%	4h	0.03936	+0.212%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0019%	4h	0.03935	+0.178%	$101K	$340K	10x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03940	+0.305%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03939	+0.278%	$607	—	150x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0019%	1h	0.03927	−0.015%	$990K	$928K	5x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.379%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0071%	4h	0.03924	−0.102%	$976K	$8.1M	20x	as long as short
Lighter S	+0.0096%	1h	0.03931	+0.076%	$165K	$240K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03927	−0.025%	$5.4M	$25.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03920	−0.204%	$5.6M	$6.7M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03928	0.000%	$321K	$291K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03931	+0.076%	$3.5M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03926	−0.051%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.03928	long leg	$1.2M	$3.2M	50x
BingX S-USDT	+0.0100%	4h	0.03927	−0.025%	—	$6.8M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03940	+0.305%	$115K	$289K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03960	+0.815%	$24K	$475K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03928	−0.004%	$221K	$890K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03925	−0.076%	$273K	$180K	75x	as long as short