Funding arb · Price arb /

S

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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: Binance against Reya+0.048%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Binance

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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and Binance is 0.048% dearer against Reya than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SRUSDPERP	0.03941	−0.0101	get 0.0013% / 1h	56m 28s	$4	—	15x
Short	Binance SUSDT	0.03943	0.0100	get 0.0050% / 4h	56m 28s	$5.4M	$17.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now +0.048%Rate

Funding earned: $42.26
Price spread: +0.048% → 0.000%: $4.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: $31.09
Costs to cover: 0.160%
Break-even: 1.8 days

Slippage unknown: Reya: no order-book sample; Binance: live order book, 14 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	1.28 bp	19.0 bp −$19	58.0 bp −$580	doesn't fit	doesn't fit

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	−0.6672%	1h	0.03840	−2.568%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2123%	1h	0.03929	−0.317%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.923%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0969%	4h	0.03905	−0.906%	$608K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0199% / S +0.0192%	1h	0.03945	+0.089%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03941	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03945	+0.086%	$608	—	150x	as long as short
Orderly PERP_S_USDC	+0.0032%	4h	0.03945	+0.096%	$100K	$342K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.029%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03946	+0.122%	$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	0.03943	+0.058%	$988K	$714K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03944	+0.063%	$43K	$145K	10x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03943	+0.048%	$5.4M	$17.8M	75x
Bybit SUSDT	+0.0100%	4h	0.03937	−0.107%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03943	+0.046%	$983K	$5.3M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03935	−0.157%	$321K	$258K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03942	+0.020%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03938	−0.081%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03945	+0.096%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03938	−0.081%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.538%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03940	−0.018%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03928	−0.335%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0413%	1h	0.03940	−0.030%	$115K	$302K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0513%	1h	0.03937	−0.107%	$66K	$10K	10x	as long as short