Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h −0.029%

Price spread now: Bybit against Reya+0.029%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 Bybit

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

The price spread pays, funding is against you. Bybit is 0.029% dearer against Reya than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TIARUSDPERP	0.4380	0.0179	pay 0.0022% / 1h	50m 28s	$6K	—	15x
Short	Bybit TIAUSDT	0.4381	0.0100	get 0.0050% / 4h	50m 28s	$9.6M	$13.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$16.57
Price spread: +0.029% → 0.000%: $2.87
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.7
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: 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 Bybit live order book, 3 min ago	1.14 bp	10.8 bp −$11	29.6 bp −$296	170.7 bp −$17.1K	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.

TIA on 27 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_TIAUSD	−0.0162%	1h	0.4384	+0.091%	$360K	$245K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0140%	4h	0.4379	−0.017%	$2.8M	$6.0M	50x	as long as short
ApeX Omni TIAUSDT	−0.0055%	1h	0.4377	−0.063%	$49K	$235K	50x	as long as short
KuCoin TIAUSDTM	−0.0026%	4h	0.4382	+0.052%	$4.2M	$8.6M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4387	+0.166%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4387	+0.171%	$1K	—	150x	as long as short
Gate TIA_USDT	+0.0042%	4h	0.4384	+0.097%	$993K	$1.8M	75x	as long as short
Lighter TIA	+0.0096%	1h	0.4391	+0.264%	$140K	$361K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4386	+0.143%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4388	+0.193%	$4.3M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4383	+0.077%	$35K	$267K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4384	+0.105%	$14.6M	$42.3M	75x	as long as short
Bybit TIAUSDTshort	+0.0100%	4h	0.4381	+0.029%	$9.6M	$13.2M	50x
MEXC TIA_USDT	+0.0100%	4h	0.4386	+0.143%	$13.8M	$6.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4384	+0.097%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4383	+0.074%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4386	+0.150%	$101K	$151K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4375	−0.110%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4384	+0.097%	$65K	$42K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4382	+0.044%	$56K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4386	+0.143%	$7K	—	3x	as long as short
Reya TIARUSDPERPlong	+0.0179%	1h	0.4380	long leg	$6K	—	15x
Coinbase International TIA-PERP-INTX	+0.0208%	1h	0.4383	+0.074%	$51K	$77K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4384	+0.097%	$27K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4380	+0.006%	$1.1M	$570K	75x	as long as short
dYdX TIA-USD	+0.0451%	1h	0.4387	+0.175%	$52K	$59	10x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0459% / S −0.3505%	1h	0.4387	+0.155%	$36K	—	100x	as long as short