Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.048%

Price spread now: Reya against KuCoin+0.124%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.124% dearer against KuCoin than usual: you sell high and buy low (spread +0.124% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.04078	0.0100	pay 0.0050% / 4h	1h 58m	$1.9M	$2.8M	50x
Short	Reya SRUSDPERP	0.04083	−0.0101	pay 0.0013% / 1h	58m 11s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now +0.124%Rate

Funding earned: −$42.25
Price spread: +0.124% → 0.000%: $12.43
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$47.83
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	6.17 bp	89.6 bp −$90	571.3 bp −$5,713	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	−1.0232%	1h	0.03940	−3.384%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2363%	1h	0.04080	+0.040%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−2.869%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04083	+0.110%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.04083	+0.124%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04082	+0.104%	$629	—	150x	as long as short
Variational Omni S	+0.0020%	4h	0.04085	+0.165%	$634K	$25K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.539%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04081	+0.074%	$101K	$564K	10x	as long as short
Lighter S	+0.0096%	1h	0.04085	+0.172%	$174K	$139K	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	0.04079	+0.025%	$1.0M	$597K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04081	+0.063%	$48K	$111K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04081	+0.074%	$5.8M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04072	−0.147%	$5.8M	$4.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04078	0.000%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04079	+0.025%	$332K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04080	+0.049%	$4.0M	$1.7M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.04078	long leg	$1.9M	$2.8M	50x
Bitget SUSDT	+0.0100%	4h	0.04080	+0.049%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04079	+0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.049%	$24K	$489K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04080	+0.045%	$230K	$592K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04078	0.000%	$279K	$117K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0730%	1h	0.04086	+0.196%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2379%	1h	0.04090	+0.294%	$119K	$426K	5x	as long as short