Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0201%/8h= +22.0% APRpaid last 24h +0.048%

Price spread now: KuCoin against Reya+0.042%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 KuCoin

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 KuCoin is 0.042% 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	0.04066	−0.0101	get 0.0013% / 1h	4m 05s	$4	—	15x
Short	KuCoin SUSDTM	0.04068	0.0100	get 0.0050% / 4h	2h 04m	$1.9M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.042%Rate

Funding earned: $42.26
Price spread: +0.042% → 0.000%: $4.16
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $28.41
Costs to cover: 0.180%
Break-even: 2.3 days

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	4.91 bp	96.1 bp −$96	221.7 bp −$2,217	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 24 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	−0.8960%	1h	0.03950	−2.860%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.090%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1248%	1h	0.04060	−0.156%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0372%	4h	0.04063	−0.074%	$632K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04070	+0.101%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.04066	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04070	+0.099%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.829%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0053%	4h	0.04069	+0.066%	$101K	$329K	10x	as long as short
Lighter S	+0.0096%	1h	0.04072	+0.140%	$169K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04070	+0.096%	$1.0M	$562K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04070	+0.101%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04075	+0.219%	$5.6M	$14.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04063	−0.081%	$5.8M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04068	+0.042%	$1.0M	$4.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04063	−0.081%	$334K	$206K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04066	−0.008%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04068	+0.042%	$1.9M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.04071	+0.115%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04066	−0.008%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.337%	$24K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04067	+0.013%	$229K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0487%	1h	0.04074	+0.189%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0948%	1h	0.04080	+0.337%	$119K	$350K	5x	as long as short