Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 737.76 | +0.0048 | pay 0.0006% / 1h | 2m 31s | $1.7M | $3.8M | 20x | Long Deribit | |
| SHORT | 737.22 | −0.0014 | pay 0.0002% / 1h | 2m 31s | $174K | $32K | 25x | Short Reya |
Price gap−0.074%
Funding gap−0.0062% /8h
Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.056% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$180−0.0062% /8h now · paid −1.803% over the last 7D
Price−$6spread −0.074% now, avg −0.018% → −0.056% if it goes back
Costsno datano order book for Reya
Result, before costs−$186−1.86%+ Points / potential airdropReya: points · farm boardcosts unknown: no order book for Reya ·
Price and funding
1h · historyPrice spread
Prices
Fundingper 8h
PRICE SPREAD · 7D
Now−0.074%
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
/8hSPY on 34 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Note: Order book unknown—No order-book sample for Reya: its slippage is not counted.
- Note: Margin at max leverage$500 + $400Deribit 20x, Reya 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$1.86Long Deribit: 24 payments, −$1.45; short Reya: 24 payments, −$0.41.
- Watch: Gap narrower than usual−0.074% vs −0.018%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$174K vs $1.7M OIReya sets your exit cost. Check its book before closing.
- OK: Points on a legReya pointsVolume here counts toward the points program.
- Watch: KYCDeribit Yes · Reya NoID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0859%/8h × 21 periods−$180.31
Price spread−0.074% → −0.018% (7d avg)−$5.57
Slippage, 4 ordersno data for Reya—
Fee Deribit bp × 2 orders−$7.00
Fee Reya bp × 2 orders−$6.00
Net, fees only · 7 days · $10k−$198.88
Costs to cover0.130%Break-evennever at this rate
Slippage: Deribit: live order book, 4 min ago; Reya: no order-book sampleCost to enter
taker + slippage from mid, one sideBUY · LONGDeribit0.073.6 bp−$45.1 bp−$5110.9 bp−$1,086doesn’t fit
SELL · SHORTReya—————
Closing costs about the same again.
Reya: no data.
SPY news
posts that mention SPY or SPDR S&P 500 ETF, from every exchange| 11-05 15:09 | RISEx | Other | Since August, trading on RISEx has become much cheaper with far less slippage; the pool is being adjusted to support these improvements. $100K orders are cheaper across $BTC, $ETH, $XAU, $SPY and $QQQ. Index ETFs improved most, about 85% cheaper, with gold about 65%. $200K $SPY and $QQQ orders couldn’t reliably fill within 20 bps in August. By October, they were closer to 2 bps. Your size continues to add depth to the book, and every large order brings in more liquidity and raises the bar for what RISEx has to deliver. RISEx is still the only venue that pays slippage back. Keep sizing up. @risextrade on X ↗ |
| 11-05 13:24 | Kalshi | Listing | new market KXSPYPERP ($SPY) seen by our collector |
| 10-28 15:00 | MEXC | Other | Everyone’s watching December. @MEXC_Research is watching 2027, and what it means for QQQ vs SPY. 👀 Read it before the Fed speaks. 👇 @MEXC on X ↗ |
| 10-20 15:24 | Orderly | Other | Perp Anything go brrrrrrrr 🖨️ The $SPY Perp Anything market on Orderly just did $48M trading volume in 24 hours. Its creator earned $2,425.79 in fees. At that pace, that's $72,774 in 30 days. From ONE market. See an opportunity? Perp it. @OrderlyNetwork on X ↗ |
| 10-14 13:01 | Reya | Listing | SPY and QQQ perps are live on Reya. First we launched the Mag7. Now the bigger picture. Up to 25x leverage on both index perps. @reya_xyz on X ↗ |
| 10-12 13:49 | Reya | Listing | new market SPYRUSDPERP ($SPY) seen by our collector |
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