Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.058%

Price spread now: Reya against KuCoin−0.024%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Reya

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. Reya is 0.024% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 11 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2456	0.0100	pay 0.0100% / 8h	4h 35m	$29.7M	$15.1M	75x
Short	Reya ADARUSDPERP	0.2456	0.0279	get 0.0035% / 1h	35m 09s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now −0.024%Rate

Funding earned: $37.5
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $17.09
Costs to cover: 0.180%
Break-even: 3.8 days

Slippage unknown: KuCoin: live order book, 4 min ago; Reya: 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 KuCoin live order book, 4 min ago	1.43 bp	21.7 bp −$22	27.3 bp −$273	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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.

ADA on 37 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
dYdX ADA-USD	0.0000%	1h	0.2458	+0.060%	$202K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	−0.004%	$160K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	−0.028%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.607%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2449	−0.289%	$424K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2456	−0.004%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.061%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	+0.004%	$1.2M	$984K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	+0.052%	$160K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2457	+0.029%	$104.0M	$370.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2455	−0.045%	$71.6M	$109.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.037%	$32.7M	$104.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2455	−0.045%	$98.0M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	−0.004%	$61.0M	$60.0M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2456	long leg	$29.7M	$15.1M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2456	−0.004%	$66.1M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2456	−0.004%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.037%	$124K	$441K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.286%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	0.000%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	−0.102%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.086%	$226K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2457	+0.037%	$94K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	−0.004%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.012%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	−0.044%	$9K	$734K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	0.000%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	−0.004%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2456	−0.004%	$47.9M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.029%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2458	+0.059%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0160%	1h	0.2458	+0.081%	$42.7M	$14.7M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	−0.037%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	−0.004%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERPshort	+0.0279%	1h	0.2456	−0.024%	$1K	—	15x
GMX ADA/USD [WBTC.b-USDC]	L +0.0593% / S −0.0547%	1h	0.2455	−0.055%	$132K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0605%	1h	0.2457	+0.037%	$596K	$491K	50x	as long as short