Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0123%/8h= +13.4% APRpaid last 24h −0.067%

Price spread now: Aster against Reya+0.094%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 Aster

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 · Aster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Aster is 0.094% dearer against Reya than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SRUSDPERP	0.03905	−0.0101	get 0.0013% / 1h	5m 30s	$4	—	15x
Short	Aster SUSDT	0.03909	0.0021	get 0.0011% / 4h	2h 05m	$43K	$212K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.094%Rate

Funding earned: $25.73
Price spread: +0.094% → 0.000%: $9.37
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: $21.1
Costs to cover: 0.140%
Break-even: 1.3 days

Slippage unknown: Reya: no order-book sample; Aster: live order book, 16 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 Aster live order book, 16 min ago	10.19 bp	34.7 bp −$35	doesn't fit	doesn't fit	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.

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	−0.1461%	1h	0.03907	+0.048%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.025%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0889%	4h	0.03922	+0.432%	$610K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0192% / S +0.0185%	1h	0.03910	+0.121%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03905	long leg	$4	—	15x
Orderly PERP_S_USDC	−0.0001%	4h	0.03907	+0.049%	$99K	$346K	10x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03911	+0.151%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03911	+0.139%	$603	—	150x	as long as short
Aster SUSDTshort	+0.0021%	4h	0.03909	+0.094%	$43K	$212K	10x
01 Exchange SUSD	+0.0032%	1h	0.03900	−0.130%	$24K	$3K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.991%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03912	+0.177%	$164K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03908	+0.077%	$982K	$877K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03908	+0.075%	$5.3M	$23.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03904	−0.028%	$5.6M	$6.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03904	−0.028%	$974K	$7.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03905	−0.002%	$319K	$293K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03909	+0.100%	$3.4M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03905	−0.002%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03911	+0.151%	$1.2M	$2.9M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03907	+0.049%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.126%	$23K	$470K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03906	+0.018%	$219K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03911	+0.151%	$268K	$146K	75x	as long as short
Backpack S_USDC_PERP	+0.0532%	1h	0.03920	+0.382%	$114K	$298K	5x	as long as short