Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h −0.060%

Price spread now: MEXC against Reya+0.041%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 MEXC

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. MEXC is 0.041% dearer against Reya than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ADARUSDPERP	0.2472	0.0282	pay 0.0035% / 1h	4m 12s	$1K	—	15x
Short	MEXC ADA_USDT	0.2473	0.0100	get 0.0100% / 8h	7h 04m	$54.3M	$52.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$38.2
Price spread: +0.041% → 0.000%: $4.09
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: −$40.11
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	2.02 bp	2.0 bp −$2	3.8 bp −$38	10.5 bp −$1,051	43.6 bp −$21.8K

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
dYdX ADA-USD	0.0000%	1h	0.2473	+0.021%	$203K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2472	−0.020%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.040%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2468	−0.161%	$423K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2469	−0.124%	$6.3M	$11.8M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2470	−0.064%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2472	+0.014%	$1.2M	$957K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	+0.048%	$159K	$150K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2468	−0.167%	$102.9M	$368.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2465	−0.283%	$72.2M	$105.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2464	−0.323%	$32.6M	$107.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2471	−0.040%	$99.5M	$60.4M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2473	+0.041%	$54.3M	$52.4M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2473	+0.025%	$30.4M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2471	−0.040%	$66.6M	$45.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2473	+0.041%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2470	−0.089%	$137K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2467	−0.200%	$4.2M	$966K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2479	+0.268%	$66K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2483	+0.448%	$297K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2483	+0.445%	$56K	$586K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2471	−0.024%	$94K	$651K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2471	−0.040%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2472	+0.006%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2473	+0.042%	$9K	$766K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2470	−0.080%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2472	+0.003%	$1.3M	$5.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	−0.161%	$48.1M	$6.2M	50x	as long as short
Kalshi KXADAPERP	+0.0101%	8h	0.2472	0.000%	$192K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2470	−0.082%	$539K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2475	+0.132%	$21K	$250	20x	as long as short
Lighter ADA	+0.0176%	1h	0.2472	−0.020%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2469	−0.121%	$4.5M	$5.6M	75x	as long as short
Hyperliquid ADA	+0.0243%	1h	0.2474	+0.089%	$43.2M	$14.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0276%	1h	0.2472	−0.004%	$494K	$461K	50x	as long as short
Reya ADARUSDPERPlong	+0.0282%	1h	0.2472	long leg	$1K	—	15x
GMX ADA/USD [WBTC.b-USDC]	L +0.0628% / S −0.0393%	1h	0.2471	−0.034%	$142K	—	100x	as long as short