Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0174%/8h= −19.1% APRpaid last 24h −0.057%

Price spread now: OKX against Reya+0.082%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 OKX

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. OKX is 0.082% dearer against Reya than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ADARUSDPERP	0.2461	0.0274	pay 0.0034% / 1h	14m 28s	$1K	—	15x
Short	OKX ADA-USDT-SWAP	0.2463	0.0100	get 0.0100% / 8h	1h 14m	$32.8M	$118.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$36.55
Price spread: +0.082% → 0.000%: $8.15
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$44.4
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	2.03 bp	9.0 bp −$9	13.4 bp −$134	44.9 bp −$4,489	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.

ADA on 36 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
Kalshi KXADAPERP	0.0000%	8h	0.2462	+0.041%	$201K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.012%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.407%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0038%	1h	0.2462	+0.021%	$203K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2462	+0.041%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2463	+0.067%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	+0.049%	$158K	$177K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2464	+0.106%	$103.6M	$407.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2463	+0.082%	$73.2M	$124.5M	75x	as long as short
OKX ADA-USDT-SWAPshort	+0.0100%	8h	0.2463	+0.082%	$32.8M	$118.7M	50x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2462	+0.041%	$100.8M	$64.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2461	0.000%	$52.8M	$65.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2462	+0.045%	$29.4M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	0.000%	$67.0M	$53.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2462	+0.041%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.044%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2458	−0.130%	$66K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	−0.149%	$293K	$3.9M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2462	+0.041%	$128K	$1.3M	10x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	+0.082%	$8K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2462	+0.061%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2463	+0.101%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.041%	$47.7M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2462	+0.032%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2464	+0.104%	$21K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2461	0.000%	$380K	$8.4M	50x	as long as short
ApeX Omni ADAUSDT	+0.0126%	1h	0.2457	−0.162%	$79K	$893K	50x	as long as short
Lighter ADA	+0.0144%	1h	0.2464	+0.138%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	−0.146%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0169%	1h	0.2463	+0.065%	$6.4M	$13.9M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0181%	1h	0.2463	+0.086%	$140K	$484K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2461	0.000%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERPlong	+0.0274%	1h	0.2461	long leg	$1K	—	15x
Hyperliquid ADA	+0.0320%	1h	0.2463	+0.094%	$43.3M	$18.1M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0441%	1h	0.2463	+0.098%	$629K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0603% / S −0.0679%	1h	0.2461	−0.008%	$156K	—	100x	as long as short