Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.056%

Price spread now: Reya against MEXC−0.057%48s7-day average — · you buy dearer than you sell

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

Long on MEXC 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 −$6 a day on $10k at the current rate, and Reya is 0.057% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 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	MEXC S_USDT	0.03935	0.0100	pay 0.0050% / 4h	49m 41s	$3.6M	$1.9M	200x
Short	Reya SRUSDPERP	0.03933	−0.0101	pay 0.0013% / 1h	49m 41s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against MEXC. 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 MEXCbpFee ReyabpOrdersPrice spread, now −0.057%Rate

Funding earned: −$42.26
Price spread: −0.057% → 0.000%: −$5.74
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: −$58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.27 bp	3.9 bp −$4	49.8 bp −$498	259.3 bp −$25.9K	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	−0.6872%	1h	0.03840	−2.414%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2121%	1h	0.03933	−0.059%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.770%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0951%	4h	0.03927	−0.203%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0200% / S +0.0193%	1h	0.03934	−0.013%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03933	−0.057%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	+0.033%	$607	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.193%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0034%	4h	0.03933	−0.051%	$100K	$342K	10x	as long as short
Lighter S	+0.0096%	1h	0.03939	+0.102%	$165K	$217K	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	0.03933	−0.048%	$986K	$700K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03936	+0.033%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03935	+0.003%	$5.4M	$17.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03932	−0.076%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03936	+0.025%	$983K	$5.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03931	−0.102%	$321K	$258K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03935	long leg	$3.6M	$1.9M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03933	−0.051%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03937	+0.051%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03934	−0.025%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.127%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03934	−0.019%	$222K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0258%	1h	0.03938	+0.076%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03932	−0.076%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0388%	1h	0.03940	+0.127%	$115K	$308K	5x	as long as short