Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.021%

Price spread now: BloFin against Reya+0.143%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 BloFin

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

The price spread pays, funding is against you. BloFin is 0.143% dearer against Reya than usual: you sell high and buy low (spread +0.143% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ADARUSDPERP	0.2435	0.0275	pay 0.0034% / 1h	46m 45s	$1K	—	15x
Short	BloFin ADA-USDT	0.2438	0.0220	get 0.0220% / 8h	1h 46m	$4.4M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.143%Rate

Funding earned: −$11.51
Price spread: +0.143% → 0.000%: $14.28
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$15.23
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BloFin: live order book, 2 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 BloFin live order book, 2 min ago	6.15 bp	12.2 bp −$12	13.2 bp −$132	24.8 bp −$2,483	49.2 bp −$24.6K

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.

ADA on 37 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
Kalshi KXADAPERP	0.0000%	8h	0.2434	−0.022%	$191K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.007%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.498%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2435	+0.020%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2433	−0.077%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2433	−0.063%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2433	−0.077%	$102.3M	$410.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2432	−0.104%	$71.9M	$125.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2433	−0.063%	$32.4M	$117.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2431	−0.145%	$99.4M	$64.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ADA_USDT	+0.0100%	8h	0.2433	−0.063%	$51.8M	$64.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2432	−0.100%	$29.3M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2432	−0.104%	$66.0M	$53.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2432	−0.104%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2435	+0.020%	$137K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.106%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2440	+0.225%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2437	+0.082%	$295K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.184%	$81K	$890K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2435	+0.036%	$129K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	+0.048%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2438	+0.141%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	+0.040%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	+0.070%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	+0.061%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2432	−0.110%	$511K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2434	−0.030%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2438	+0.143%	$375K	$8.6M	50x	as long as short
dYdX ADA-USD	+0.0133%	1h	0.2432	−0.101%	$200K	$2K	10x	as long as short
Lighter ADA	+0.0136%	1h	0.2434	−0.042%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	+0.262%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2435	+0.031%	$6.3M	$13.8M	50x	as long as short
BloFin ADA-USDTshort	+0.0220%	8h	0.2438	+0.143%	$4.4M	$5.8M	75x
Reya ADARUSDPERPlong	+0.0275%	1h	0.2435	long leg	$1K	—	15x
Hyperliquid ADA	+0.0291%	1h	0.2434	−0.030%	$42.7M	$18.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0530%	1h	0.2436	+0.073%	$620K	$612K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0728%	1h	0.2434	−0.035%	$163K	—	100x	as long as short