Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.060%

Price spread now: Reya against Gate−0.002%7-day average — · you buy dearer than you sell

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

Long on Gate 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 sits at zero (this spread has no 7-day history yet), 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	Gate S_USDT	0.03924	0.0100	pay 0.0050% / 4h	2h 39m	$319K	$183K	50x
Short	Reya SRUSDPERP	0.03924	−0.0101	pay 0.0013% / 1h	39m 56s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Gate. 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 GatebpFee ReyabpOrdersPrice spread, now −0.002%Rate

Funding earned: −$42.25
Price spread: −0.002% → 0.000%: −$0.2
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: −$63.45
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Gate: 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 Gate live order book, 5 min ago	8.88 bp	79.3 bp −$79	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
01 Exchange SUSD	−0.8680%	1h	0.03840	−2.141%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1853%	1h	0.03925	+0.030%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03929	+0.127%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03930	+0.153%	$1K	—	100x	as long as short
Variational Omni S	−0.0119%	4h	0.03931	+0.176%	$611K	$30K	—	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03924	−0.002%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03931	+0.170%	$606	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.485%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0082%	4h	0.03931	+0.178%	$98K	$468K	10x	as long as short
Lighter S	+0.0096%	1h	0.03934	+0.255%	$167K	$138K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03932	+0.191%	$989K	$588K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03921	−0.084%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03915	−0.224%	$5.5M	$13.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03909	−0.382%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03912	−0.306%	$967K	$3.7M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03924	long leg	$319K	$183K	50x
MEXC S_USDT	+0.0100%	4h	0.03928	+0.102%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03924	0.000%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03915	−0.229%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03913	−0.280%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.663%	$4K	$472K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03923	−0.025%	$221K	$595K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0258%	1h	0.03936	+0.306%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03929	+0.127%	$270K	$106K	75x	as long as short
Backpack S_USDC_PERP	+0.1973%	1h	0.03940	+0.408%	$115K	$426K	5x	as long as short