S

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0585%/8h= −64.0% APRnext payment −$0.73 per $10,000 · paid last 24h −0.066%

Price spread now: Reya against Backpack−0.312%7-day average — · you buy dearer than you sell

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

Long on Backpack 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

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Reya is 0.312% cheaper against Backpack than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.03920	0.0484	pay 0.0060% / 1h	19m 29s	$114K	$301K	5x
Short	Reya SRUSDPERP	0.03908	−0.0101	pay 0.0013% / 1h	19m 29s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now −0.312%Rate

Funding earned: −$122.83
Price spread: −0.312% → 0.000%: −$31.24
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$170.07
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 64 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 Backpack live order book, 64 min ago	12.71 bp	17.7 bp −$18	doesn't fit	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.

S on 25 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
Kraken Futures PF_SUSD	−0.1600%	1h	0.03906	−0.350%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.398%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0870%	4h	0.03900	−0.510%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0190%	1h	0.03913	−0.184%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03908	−0.312%	$4	—	15x
01 Exchange SUSD	−0.0056%	1h	0.03840	−2.041%	$23K	$2K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03914	−0.163%	$603	—	150x	as long as short
Orderly PERP_S_USDC	+0.0030%	4h	0.03910	−0.255%	$100K	$345K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.592%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03913	−0.179%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03910	−0.258%	$981K	$716K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03913	−0.169%	$43K	$212K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03909	−0.276%	$5.3M	$18.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03904	−0.408%	$5.6M	$5.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03908	−0.306%	$977K	$5.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03905	−0.383%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03911	−0.230%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03905	−0.383%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03916	−0.102%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03908	−0.306%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	−0.255%	$25K	$460K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03907	−0.326%	$219K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0261%	1h	0.03914	−0.153%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	−0.357%	$267K	$126K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0484%	1h	0.03920	long leg	$114K	$301K	5x