Funding arb · Price arb / RWA

QQQ

RWAAll QQQ markets →

LONGReya▾Reya −0.2492%edgeX −0.0235%Backpack −0.0219%Nado −0.0096%AZverse −0.0060%Aster 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%RISEx 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%SunX 0.0000%HTX 0.0000%Phoenix +0.0012%Phemex +0.0018%Gate +0.0018%Lighter +0.0032%Lighter RH +0.0032%Arcus +0.0038%Vest Markets +0.0046%Popdex +0.0048%BingX +0.0050%Ondo Perps +0.0050%ApeX Omni +0.0100%Orderly +0.0100%TxFlow +0.0100%Aevo +0.0104%BloFin +0.0120%Deribit +0.0197%GMX +0.0276%

⇄⇅

SHORTKraken Futures▾Kraken Futures +0.0489%Deribit +0.0197%GMX −0.0163%BloFin +0.0120%Aevo +0.0104%ApeX Omni +0.0100%Orderly +0.0100%TxFlow +0.0100%Ondo Perps +0.0050%BingX +0.0050%Popdex +0.0048%Vest Markets +0.0046%Arcus +0.0038%Lighter +0.0032%Lighter RH +0.0032%Gate +0.0018%Phemex +0.0018%Phoenix +0.0012%Aster 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%RISEx 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%SunX 0.0000%HTX 0.0000%AZverse −0.0060%Nado −0.0096%Backpack −0.0219%edgeX −0.0235%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	ReyaQQQRUSDPERP	693.79	−0.2492	get 0.0312% / 1h	29m 18s	$51K	$48K	25x	Long Reya
SHORT	Kraken FuturesPF_QQQXUSD	695.30	+0.0489	get 0.0061% / 1h	29m 18s	$1.0M	$914K	20x	Short Kraken Futures

Price gap+0.217%

Funding gap+0.2981% /8h

Both sides work: funding pays +$89 a day on $10k, and the gap is 0.217% above zero (no 7-day history yet): +$22 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +1.481% in total, about +0.0705%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

PRICE SPREAD · 7D

Now+0.217%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

ReyaKraken Futures

QQQ on 35 exchanges

lowest funding first

Before you open

2 ok · 2 to watch

• i
  Note: Order book unknown—

  No order-book sample for Reya: its slippage is not counted.
• i
  Note: Margin at max leverage$400 + $500

  Reya 25x, Kraken Futures 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Reya · 1h+$74.77

  Short Kraken Futures · 1h+$14.66

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$89.43Long Reya: 24 payments, +$74.77; short Kraken Futures: 24 payments, +$14.66.
• i
  Note: No 7-day spread history+0.217%

  The gap cannot be compared with its average yet.
• !
  Watch: Long leg is thinner$51K vs $1.0M OI

  Reya sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legReya points

  Volume here counts toward the points program.
• !
  Watch: KYCReya No · Kraken Futures Yes

  Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0705%/8h × 21 periods+$148.14

Price spread+0.217% → 0+$21.73

Slippage, 4 ordersno data for Reya—

Fee Reya bp × 2 orders−$6.00

Fee Kraken Futures bp × 2 orders−$10.00

Net, fees only · 7 days · $10k+$153.87

Costs to cover0.160%Break-evenfrom the start

Slippage: Reya: no order-book sample; Kraken Futures: live order book, 3 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGReya—————

SELL · SHORTKraken Futures0.727.1 bp−$720.4 bp−$204doesn’t fitdoesn’t fit

Closing costs about the same again.
Reya: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

QQQ news

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