Funding you earn now, next payment 04:00 UTC+0.0091%/8h= +9.9% APRnext payment +$0.11 per $10,000 · paid last 24h +0.032%
Price spread now: Kraken Futures against Reya+0.068%7-day average +0.034% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.068%, 7d avg +0.034%
=Together, before fees−0.102%+ Points / potential airdropReya: Active · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.035% dearer against Reya than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.034%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya BTCRUSDPERP | 85,265.1 | 0.0080 | pay 0.0010% / 1h | 35m 56s | $6.6M | $146.7M | 40x |
| Short | Kraken Futures PF_XBTUSD | 85,323.3 | 0.0171 | get 0.0021% / 1h | 35m 56s | $187.7M | $955.3M | 100x |
Reya BTCRUSDPERP
Kraken Futures PF_XBTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $19.06
- Price spread: +0.068% → +0.034%
- $3.47
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $6.54
- Costs to cover
- 0.160%
- Break-even
- 4.6 days
Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago | 0.06 bp | 5.3 bp −$5 | 6.5 bp −$65 | 7.5 bp −$751 | 9.6 bp −$4,796 |
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.
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,385 | +0.141% | $2.2M | $10.3M | 40x | as long as short |
| Bluefin BTC-PERP | −0.0164% | 1h | 85,324.5 | +0.070% | $206K | $739K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,341 | +0.089% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,297.9 | +0.039% | $364K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0029% | 8h | 85,377.5 | +0.132% | $416.4M | $665.7M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0010% | 8h | 85,322.8 | +0.068% | $918.9M | $750.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,295.7 | +0.036% | $36.4M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,345.3 | +0.094% | $514.3M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0018% | 1h | 85,373.4 | +0.127% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,299.3 | +0.040% | $5.0M | $97.5M | 40x | as long as short |
Phoenix BTC
Bluefin BTC-PERP
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0059% | 1h | 85,290.9 | +0.030% | $25.6M | $221.4M | 50x | as long as short |
| BingX BTC-USDT | +0.0061% | 8h | 85,362.6 | +0.114% | — | $1.55B | — | as long as short |
| Bitget BTCUSDT | +0.0076% | 8h | 85,365.1 | +0.117% | $2.95B | $5.06B | 150x | as long as short |
| Reya BTCRUSDPERPlong | +0.0080% | 1h | 85,265.1 | long leg | $6.6M | $146.7M | 40x | |
| Aevo BTC-PERP | +0.0088% | 1h | 85,287.1 | +0.026% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0090% | 8h | 85,360.7 | +0.112% | $5.05B | $5.61B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,362.6 | +0.114% | $9.34B | $24.10B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,341.7 | +0.090% | $172.6M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,302.6 | +0.044% | $23.7M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,315 | +0.059% | $8.3M | $52.8M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,385.6 | +0.141% | $4.4M | $8.7M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,292 | +0.032% | $214K | $8.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,422 | +0.184% | $3.74B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,370.1 | +0.123% | $40.0M | $578.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,359.3 | +0.111% | $5.22B | $9.76B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,371.8 | +0.125% | $2.57B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,317 | +0.061% | $3.9M | $18.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,369.7 | +0.123% | $5.50B | $10.65B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,333.9 | +0.081% | $35.6M | $176.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,260.9 | −0.005% | $153.4M | $563.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,434.6 | +0.199% | $279.2M | $917.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,454 | +0.222% | $214.5M | $169.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,427.7 | +0.191% | $139.7M | $314.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,424 | +0.186% | $30.2M | $207.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,362.1 | +0.114% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,291 | +0.030% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,283 | +0.021% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,286.1 | +0.025% | $2.4M | $8.9M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,280 | +0.018% | $29.9M | $51.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,271.1 | +0.007% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,291 | +0.030% | $59.8M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,314 | +0.057% | $2.26B | $942.0M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,316.5 | +0.060% | $149.2M | $485.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,513.6 | +0.291% | $649.6M | $594.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,329.4 | +0.075% | $44.1M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,331.2 | +0.078% | — | $107.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,365.9 | +0.118% | $116.6M | $5.17B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0113% | 1h | 85,336.2 | +0.083% | $894.5M | $1.54B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | +0.321% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSDshort | +0.0171% | 1h | 85,323.3 | +0.068% | $187.7M | $955.3M | 100x | |
| RISEx BTC/USDC | +0.0194% | 1h | 85,337.2 | +0.085% | $8.3M | $42.4M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,406.9 | +0.166% | $696K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0201% | 1h | 85,456.7 | +0.225% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,293.9 | +0.034% | $13.4M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,341 | +0.089% | $10.4M | $758.6M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,305.2 | +0.047% | $506K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC