Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.056%

Price spread now: Reya against Binance−0.058%7-day average — · you buy dearer than you sell

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

Long on Binance 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 −$6 a day on $10k at the current rate, and Reya is 0.058% cheaper against Binance than usual: you would sell low and buy high (−$6 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	Binance SUSDT	0.03909	0.0100	pay 0.0050% / 4h	1h 04m	$5.3M	$18.0M	75x
Short	Reya SRUSDPERP	0.03907	−0.0101	pay 0.0013% / 1h	4m 57s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now −0.058%Rate

Funding earned: −$42.26
Price spread: −0.058% → 0.000%: −$5.82
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$64.08
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 6 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 Binance live order book, 6 min ago	1.28 bp	21.4 bp −$21	64.3 bp −$643	2528.0 bp −$252.8K	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
01 Exchange SUSD	−0.1848%	1h	0.03840	−1.765%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1600%	1h	0.03905	−0.098%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.123%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0957%	4h	0.03896	−0.333%	$606K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0198% / S +0.0191%	1h	0.03913	+0.090%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03907	−0.058%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03911	+0.059%	$603	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0006%	1h	0.03914	+0.128%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0030%	4h	0.03909	0.000%	$100K	$343K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.886%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03913	+0.102%	$164K	$223K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03909	−0.010%	$980K	$712K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03910	+0.036%	$43K	$212K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.03909	long leg	$5.3M	$18.0M	75x
Bybit SUSDT	+0.0100%	4h	0.03902	−0.179%	$5.6M	$5.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03908	−0.026%	$976K	$5.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03902	−0.179%	$318K	$266K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03909	0.000%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03905	−0.102%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03909	0.000%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03907	−0.051%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03900	−0.230%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03907	−0.051%	$219K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03899	−0.256%	$265K	$125K	75x	as long as short
Backpack S_USDC_PERP	+0.0446%	1h	0.03910	+0.026%	$114K	$300K	5x	as long as short