Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.067%

Price spread now: Reya against KuCoin−0.054%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 4 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

Funding pays, the price is against you. Reya is 0.054% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 20 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SHIBUSDTM	0.000005957	0.0100	pay 0.0100% / 8h	7m 08s	$4.7M	$3.2M	75x
Short	Reya kSHIBRUSDPERP	0.000005954	0.0323	get 0.0040% / 1h	7m 08s	$1	—	20x

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 −0.054%Rate

Funding earned: $46.75
Price spread: −0.054% → 0.000%: −$5.45
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $23.3
Costs to cover: 0.180%
Break-even: 3.5 days

Slippage unknown: KuCoin: live order book, 1 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, 1 min ago	1.68 bp	18.0 bp −$18	48.3 bp −$483	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.

SHIB on 29 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
Coinbase International 1000SHIB-PERP-INTX	−0.0016%	1h	0.000005950	−0.118%	$129K	$1.6M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005955	−0.037%	$126K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005956	−0.010%	$562	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.393%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000005956	−0.017%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005961	+0.067%	$155K	$644K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005960	+0.058%	$40K	$301K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005950	−0.118%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005960	+0.050%	$30.3M	$128.5M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005953	−0.067%	$8.7M	$44.4M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000005952	−0.084%	$7.0M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005955	−0.034%	$28.6M	$20.3M	300x	as long as short
KuCoin SHIBUSDTMlong	+0.0100%	8h	0.000005957	long leg	$4.7M	$3.2M	75x
Bitget SHIBUSDT	+0.0100%	8h	0.000005957	0.000%	$11.3M	$17.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005959	+0.034%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005960	+0.050%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005970	+0.218%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005957	0.000%	$511	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005951	−0.101%	$405K	$577K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005960	+0.050%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0102%	8h	0.000005951	−0.094%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005952	−0.082%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0197%	1h	0.000005964	+0.118%	$3.6M	$5.5M	10x	as long as short
Kraken Futures PF_SHIBUSD	+0.0201%	1h	0.000005954	−0.042%	$1.2M	$1.0M	50x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.065%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005951	−0.101%	$844K	$928K	50x	as long as short
Reya kSHIBRUSDPERPshort	+0.0323%	1h	0.000005954	−0.054%	$1	—	20x
Deribit 1000SHIB_USDC-PERPETUAL	+0.0421%	1h	0.000005961	+0.067%	$50K	$59K	25x	as long as short
dYdX SHIB-USD	+0.5839%	1h	0.000005950	−0.113%	$35K	$70K	10x	as long as short