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 +0.018%

Price spread now: OKX against Reya−0.047%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 OKX

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. OKX is 0.047% cheaper against Reya than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 19 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	0.04006	−0.0101	get 0.0013% / 1h	10m 16s	$4	—	15x
Short	OKX S-USDT-SWAP	0.04004	0.0100	get 0.0050% / 4h	3h 10m	$983K	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $42.26
Price spread: −0.047% → 0.000%: −$4.72
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: $21.54
Costs to cover: 0.160%
Break-even: 3.4 days

Slippage unknown: Reya: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	2.50 bp	39.4 bp −$39	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
Kraken Futures PF_SUSD	−0.2019%	1h	0.04001	−0.120%	$34K	$23K	10x	as long as short
01 Exchange SUSD	−0.1800%	1h	0.04010	+0.103%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−1.171%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0682%	4h	0.03997	−0.226%	$621K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04007	+0.040%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.04006	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04007	+0.024%	$618	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.04006	+0.003%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.349%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.04008	+0.053%	$164K	$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	0.04007	+0.028%	$1.0M	$622K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04006	+0.010%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04006	+0.010%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04001	−0.122%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.04004	−0.047%	$983K	$4.5M	20x
Gate S_USDT	+0.0100%	4h	0.04002	−0.097%	$327K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04006	+0.003%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04007	+0.028%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04008	+0.053%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04006	+0.003%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04000	−0.147%	$26K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04004	−0.039%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0254%	1h	0.04010	+0.103%	$117K	$325K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04004	−0.047%	$270K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0748%	1h	0.04012	+0.153%	$67K	$10K	10x	as long as short