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 +0.060%

Price spread now: BingX against Reya−0.043%7-day average — · you buy dearer than you sell

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

Long on Reya Short on BingX

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

Funding pays, the price is against you. BingX is 0.043% cheaper against Reya than usual: you would sell low and buy high (spread −0.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 17 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SRUSDPERP	0.03945	−0.0101	get 0.0013% / 1h	3m 34s	$4	—	15x
Short	BingX S-USDT	0.03943	0.0100	get 0.0050% / 4h	3m 34s	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $42.26
Price spread: −0.043% → 0.000%: −$4.31
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $21.95
Costs to cover: 0.160%
Break-even: 3.4 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 9 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 BingX live order book, 9 min ago	3.82 bp	19.8 bp −$20	58.9 bp −$589	343.3 bp −$34.3K	742.9 bp −$371.5K

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	−0.6072%	1h	0.03840	−2.654%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2118%	1h	0.03938	−0.169%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−3.009%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1056%	4h	0.03927	−0.449%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0205% / S +0.0197%	1h	0.03948	+0.096%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03945	long leg	$4	—	15x
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03947	+0.058%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03947	+0.065%	$608	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03943	−0.043%	$100K	$338K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.937%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03948	+0.084%	$165K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03946	+0.025%	$989K	$664K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03948	+0.083%	$43K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03946	+0.033%	$5.4M	$16.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03942	−0.068%	$5.6M	$5.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03947	+0.058%	$985K	$4.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03937	−0.195%	$321K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03944	−0.018%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03945	+0.008%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03947	+0.058%	$1.2M	$2.5M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03943	−0.043%	—	$6.7M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.03950	+0.134%	$115K	$314K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	−0.119%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03942	−0.074%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03934	−0.271%	$265K	$125K	75x	as long as short