Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0201%/8h= +22.0% APRpaid last 24h +0.060%

Price spread now: Gate against Reya+0.040%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 Gate

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 Gate is 0.040% dearer against Reya than usual: you sell high and buy low: +$4 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	0.03981	−0.0101	get 0.0013% / 1h	17m 55s	$4	—	15x
Short	Gate S_USDT	0.03983	0.0100	get 0.0050% / 4h	3h 17m	$325K	$218K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.040%Rate

Funding earned: $42.26
Price spread: +0.040% → 0.000%: $4.03
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $25.29
Costs to cover: 0.210%
Break-even: 2.8 days

Slippage unknown: Reya: no order-book sample; Gate: live order book, 52 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 Gate live order book, 52 min ago	8.92 bp	60.5 bp −$61	doesn't fit	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	−0.2160%	1h	0.03980	−0.035%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2027%	1h	0.03985	+0.098%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−0.562%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0762%	4h	0.03982	+0.024%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03991	+0.241%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03981	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03990	+0.213%	$615	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03988	+0.166%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.979%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03992	+0.266%	$163K	$192K	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	0.03990	+0.214%	$998K	$619K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03989	+0.189%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03988	+0.159%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03985	+0.091%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03987	+0.141%	$981K	$4.5M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03983	+0.040%	$325K	$218K	50x
MEXC S_USDT	+0.0100%	4h	0.03988	+0.166%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03989	+0.191%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03990	+0.216%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03988	+0.166%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+0.216%	$26K	$443K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03986	+0.126%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0160%	1h	0.03990	+0.216%	$116K	$323K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03986	+0.116%	$269K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0502%	1h	0.03993	+0.292%	$67K	$10K	10x	as long as short