Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.025%

Price spread now: Orderly against Reya+0.026%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 Orderly

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. Orderly is 0.026% dearer against Reya than usual: you sell high and buy low (spread +0.026% 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 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TIARUSDPERP	0.4357	0.0181	pay 0.0023% / 1h	12m 54s	$6K	—	15x
Short	Orderly PERP_TIA_USDC	0.4358	0.0099	get 0.0050% / 4h	2h 12m	$6K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.026%Rate

Funding earned: −$17.17
Price spread: +0.026% → 0.000%: $2.63
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$26.54
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Reya and Orderly: 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
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4358	+0.026%	$30K	$25K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4359	+0.060%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0063%	1h	0.4349	−0.180%	$50K	$227K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4362	+0.127%	$150K	$429K	10x	as long as short
Orderly PERP_TIA_USDCshort	+0.0099%	4h	0.4358	+0.026%	$6K	$267K	10x
Hyperliquid TIA	+0.0100%	1h	0.4364	+0.153%	$4.7M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4354	−0.071%	$32K	$247K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4354	−0.055%	$13.6M	$44.5M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4355	−0.043%	$9.7M	$13.9M	50x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4353	−0.088%	$2.7M	$6.4M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TIA_USDT	+0.0100%	4h	0.4358	+0.026%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4358	+0.026%	$10.0M	$7.0M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4359	+0.049%	$4.2M	$9.6M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4357	+0.003%	$4.4M	$3.7M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4351	−0.134%	—	$103.1M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4359	+0.045%	$101K	$175K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4346	−0.254%	$101K	$51K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4362	+0.118%	$58K	$73K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4355	−0.042%	$55K	$212K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4356	−0.020%	$7K	—	3x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0174% / S +0.0051%	1h	0.4359	+0.042%	$6K	—	100x	as long as short
Reya TIARUSDPERPlong	+0.0181%	1h	0.4357	long leg	$6K	—	15x
Kraken Futures PF_TIAUSD	+0.0192%	1h	0.4359	+0.052%	$346K	$205K	50x	as long as short
Injective TIA/USDC PERP	+0.0237%	1h	0.4369	+0.279%	$25K	$11K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4355	−0.043%	$1.6M	$702K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0400%	1h	0.4363	+0.141%	$47K	$84K	50x	as long as short
dYdX TIA-USD	+0.0438%	1h	0.4361	+0.101%	$52K	$139	10x	as long as short