Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.055%

Price spread now: Phemex against Reya+0.098%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 Phemex

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. Phemex is 0.098% dearer against Reya than usual: you sell high and buy low (spread +0.098% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ATOMRUSDPERP	1.7992	0.0228	pay 0.0029% / 1h	19m 58s	$2K	—	25x
Short	Phemex ATOMUSDT	1.8010	0.0100	get 0.0100% / 8h	4h 19m	$1.6M	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$26.93
Price spread: +0.098% → 0.000%: $9.81
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$35.12
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	2.78 bp	14.0 bp −$14	37.5 bp −$375	112.7 bp −$11.3K	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.

ATOM 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
Coinbase International ATOM-PERP-INTX	−0.0312%	1h	1.8040	+0.265%	$25K	$4K	25x	as long as short
Variational Omni ATOM	−0.0057%	8h	1.7992	−0.004%	$575K	$74K	—	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8017	+0.135%	$63K	$4K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.8008	+0.087%	$495	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L +0.0001% / S +0.0001%	1h	1.8014	+0.120%	$800	—	150x	as long as short
Bybit ATOMUSDT	+0.0003%	8h	1.7995	+0.015%	$14.9M	$9.8M	75x	as long as short
OKX ATOM-USDT-SWAP	+0.0027%	8h	1.8000	+0.043%	$5.0M	$5.5M	50x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8014	+0.120%	$2.8M	$717K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.8011	+0.104%	$976K	$234K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.8009	+0.095%	$21.4M	$29.9M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ATOM_USDT	+0.0100%	8h	1.8010	+0.098%	$2.5M	$812K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8000	+0.043%	$8.4M	$3.1M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8020	+0.154%	$1.6M	$672K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.8001	+0.048%	$6.8M	$2.6M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8010	+0.098%	—	$24.4M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8025	+0.181%	$443K	$295K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8030	+0.209%	$768K	$2.7M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8023	+0.170%	$314K	$176K	75x	as long as short
Phemex ATOMUSDTshort	+0.0100%	8h	1.8010	+0.098%	$1.6M	$1.9M	50x
BloFin ATOM-USDT	+0.0104%	8h	1.8020	+0.154%	$1.1M	$298K	75x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.8010	+0.097%	$7K	$202K	10x	as long as short
Injective ATOM/USDC PERP	+0.0116%	1h	1.8020	+0.154%	$657	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]	L +0.0198% / S −0.1417%	1h	1.8012	+0.110%	$3K	—	120x	as long as short
Reya ATOMRUSDPERPlong	+0.0228%	1h	1.7992	long leg	$2K	—	25x
Kraken Futures PF_ATOMUSD	+0.0357%	1h	1.8027	+0.193%	$3.1M	$708K	50x	as long as short