Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.018%

Price spread now: Reya against OKX+0.102%7-day average — · you sell dearer than you buy

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

Long on OKX 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 0.102% dearer against OKX than usual: you sell high and buy low (spread +0.102% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX S-USDT-SWAP	0.04001	0.0100	pay 0.0050% / 4h	3h 54m	$1.0M	$3.9M	20x
Short	Reya SRUSDPERP	0.04005	−0.0101	pay 0.0013% / 1h	54m 58s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against OKX. 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 OKXbpFee ReyabpOrdersPrice spread, now +0.102%Rate

Funding earned: −$42.25
Price spread: +0.102% → 0.000%: $10.25
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$48.01
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: 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 OKX live order book, 2 min ago	2.53 bp	36.0 bp −$36	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	−0.2226%	1h	0.04001	+0.009%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03928	−1.825%	$47K	$16K	25x	as long as short
01 Exchange SUSD	−0.0528%	1h	0.03960	−1.025%	$25K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04001	+0.005%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.04005	+0.102%	$4	—	15x
Variational Omni S	−0.0033%	4h	0.04003	+0.045%	$620K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04001	−0.007%	$617	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.474%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0075%	4h	0.04002	+0.025%	$99K	$270K	10x	as long as short
Lighter S	+0.0096%	1h	0.04004	+0.075%	$168K	$155K	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	0.04003	+0.057%	$1.0M	$599K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04006	+0.120%	$44K	$139K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04004	+0.063%	$5.5M	$14.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03997	−0.100%	$5.7M	$4.6M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.04001	long leg	$1.0M	$3.9M	20x
Gate S_USDT	+0.0100%	4h	0.04005	+0.100%	$327K	$189K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04003	+0.050%	$3.7M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03998	−0.075%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04005	+0.100%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04003	+0.050%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03960	−1.025%	$24K	$461K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04001	−0.009%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04001	0.000%	$273K	$100K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.1000%	1h	0.04006	+0.125%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2384%	1h	0.04010	+0.225%	$117K	$424K	5x	as long as short