Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.048%

Price spread now: Reya against KuCoin−0.084%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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.084% cheaper against KuCoin than usual: you would sell low and buy high (−$8 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	KuCoin SUSDTM	0.03976	0.0100	pay 0.0050% / 4h	3h 47m	$1.8M	$2.9M	50x
Short	Reya SRUSDPERP	0.03973	−0.0101	pay 0.0013% / 1h	47m 04s	$4	—	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 −0.084%Rate

Funding earned: −$42.26
Price spread: −0.084% → 0.000%: −$8.44
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$68.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 10 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, 10 min ago	3.79 bp	81.9 bp −$82	645.7 bp −$6,457	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
01 Exchange SUSD	−0.7616%	1h	0.03970	−0.151%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2033%	1h	0.03973	−0.079%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.773%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1022%	4h	0.03957	−0.468%	$615K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03978	+0.040%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.03973	−0.084%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03979	+0.066%	$613	—	150x	as long as short
Orderly PERP_S_USDC	+0.0025%	4h	0.03976	0.000%	$101K	$336K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.119%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03979	+0.075%	$161K	$190K	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	0.03977	+0.035%	$995K	$647K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03978	+0.061%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03978	+0.050%	$5.4M	$16.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03972	−0.101%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03976	0.000%	$981K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03969	−0.176%	$324K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03975	−0.025%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03976	long leg	$1.8M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.03977	+0.025%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03974	−0.050%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03980	+0.101%	$116K	$317K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.151%	$26K	$450K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03974	−0.052%	$223K	$1.0M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03971	−0.126%	$268K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0504%	1h	0.03982	+0.151%	$67K	$10K	10x	as long as short