Funding you earn now, next payment 02:00 UTC−0.0092%/8h= −10.1% APRnext payment −$0.11 per $10,000 · paid last 24h −0.032%
Price spread now: Reya against Kraken Futures−0.179%7-day average −0.033% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.021%+$2 on $10k
+Price spread, last 3 days (all we have)+0.159%+$16 · spread now −0.179%, 7d avg −0.033%
=Together, before fees+0.180%+ Points / potential airdropReya: Active · farm board+$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Reya is 0.146% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.033%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 85,565.3 | 0.0146 | pay 0.0018% / 1h | 40m 05s | $187.6M | $974.0M | 100x |
| Short | Reya BTCRUSDPERP | 85,412.3 | 0.0054 | get 0.0007% / 1h | 40m 05s | $6.7M | $146.1M | 40x |
Kraken Futures PF_XBTUSD
Reya BTCRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$19.29
- Price spread: −0.179% → −0.033%
- −$14.59
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$49.87
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 4 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 Kraken Futures live order book, 4 min ago | 0.06 bp | 5.1 bp −$5 | 5.7 bp −$57 | 7.5 bp −$748 | 9.3 bp −$4,664 |
| 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.
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,678 | +0.132% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,478 | −0.102% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.336% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,422.1 | −0.167% | $363K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,484.9 | −0.094% | $16.7M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,416 | −0.175% | $523K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,458.2 | −0.125% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.286% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0036% | 8h | 85,506.4 | −0.069% | $495.9M | $1.14B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0038% | 8h | 85,515.3 | −0.058% | $890.6M | $757.5M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,461.9 | −0.121% | $7.9M | $42.7M | 25x | as long as short |
| BingX BTC-USDT | +0.0054% | 8h | 85,536 | −0.034% | — | $1.59B | — | as long as short |
| Reya BTCRUSDPERPshort | +0.0054% | 1h | 85,412.3 | −0.179% | $6.7M | $146.1M | 40x | |
| HTX BTC-USDT | +0.0060% | 8h | 85,524.6 | −0.048% | $2.27B | $973.2M | 200x | as long as short |
| Gate BTC_USDT | +0.0068% | 8h | 85,523.6 | −0.049% | $5.60B | $10.41B | 200x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,517.2 | −0.056% | $2.94B | $5.17B | 150x | as long as short |
| Nado BTC-PERP | +0.0084% | 1h | 85,425.3 | −0.164% | $22.6M | $230.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,507.5 | −0.068% | $9.31B | $24.70B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,528.9 | −0.043% | $5.06B | $5.69B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,473.1 | −0.108% | $2.4M | $1.8M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,540.3 | −0.029% | $169.1M | $983.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,543.8 | −0.025% | $23.1M | $145.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,426 | −0.163% | $8.3M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,419 | −0.171% | $209K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,473.1 | −0.108% | $3.8M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,591 | +0.030% | $3.76B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,495.6 | −0.082% | $40.7M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,519.3 | −0.054% | $5.26B | $9.88B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,526.8 | −0.045% | $2.52B | $12.58B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,459 | −0.124% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,431.1 | −0.157% | $7.3M | $98.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,506.5 | −0.069% | $35.0M | $163.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,634.2 | +0.080% | $157.4M | $554.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,806 | +0.281% | $278.1M | $938.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,740.2 | +0.204% | $215.2M | $164.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,842.7 | +0.324% | $140.4M | $321.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,689 | +0.145% | $30.3M | $208.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,526.4 | −0.045% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,420 | −0.170% | $11.0M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,436 | −0.151% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,473.1 | −0.108% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,516.1 | −0.058% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,503.2 | −0.073% | $29.9M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,484.6 | −0.094% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,505 | −0.070% | $59.8M | $337.8M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,536 | −0.034% | $153.7M | $481.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.280% | $582.3M | $118.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,477.9 | −0.102% | $44.8M | $228.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,591.9 | +0.031% | — | $102.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,571.5 | +0.007% | $130.5M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 85,679.8 | +0.134% | $707K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0146% | 1h | 85,731.5 | +0.194% | $78K | $219K | 20x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0146% | 1h | 85,565.3 | long leg | $187.6M | $974.0M | 100x | |
| Deribit BTC-PERPETUAL | +0.0169% | 1h | 85,556.5 | −0.010% | $893.5M | $1.55B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0192% | 1h | 85,442.1 | −0.144% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 85,508 | −0.067% | $10.0M | $771.4M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDT
HTX BTC-USDT
Gate BTC_USDT
Bitget BTCUSDT
Nado BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP