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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 11:00 UTC−0.0134%/8h= −14.7% APRnext payment −$0.17 per $10,000 · paid last 24h +0.013%
Price spread now: Kraken Futures against Reya+0.044%7-day average +0.032% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.023%−$2 on $10k
Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.044%, 7d avg +0.032%
Together, before fees−0.061%+ Points / potential airdropReya: Active · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya BTCRUSDPERP86,016.60.0164pay 0.0020% / 1h46m 24s$6.6M$131.1M40x
ShortKraken Futures PF_XBTUSD86,054.20.0029get 0.0004% / 1h46m 24s$191.6M$768.0M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
−$28.22
Price spread: +0.044% → +0.032%
$1.13
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$43.08
Costs to cover
0.160%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample—————
Sell Kraken Futures live order book, 6 min ago0.06 bp5.1 bp −$55.8 bp −$587.0 bp −$6968.8 bp −$4,416
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 55 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0133%1h86,040+0.027%$2.1M$7.8M40xas long as short
ApeX Omni BTCUSDT−0.0103%1h86,098.5+0.095%$137.8M$295.3M100xas long as short
Hotstuff BTC-PERP−0.0080%1h86,142+0.146%$8K$2K50xas long as short
01 Exchange BTCUSD−0.0040%1h86,038.2+0.025%$362K$2.0M50xas long as short
BloFin BTC-USDT−0.0022%8h86,015.4−0.001%$422.5M$563.5M150xas long as short
SoDEX BTC-USD−0.0014%1h86,032+0.018%$65.9M$187.9M40xas long as short
dYdX BTC-USD0.0000%1h86,061.8+0.053%$16.9M$14.5M50xas long as short
Perpl BTC0.0000%43m86,057.4+0.047%$476K$13.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,039.2+0.026%$36.8M—200xas long as short
Injective BTC/USDC PERP+0.0009%1h86,058+0.048%$442K$26.3M52xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster BTCUSDT+0.0027%8h86,029.3+0.015%$512.8M$873.6M200xas long as short
Kraken Futures PF_XBTUSDshort+0.0029%1h86,054.2+0.044%$191.6M$768.0M100x
BingX BTC-USDT+0.0030%8h86,041.8+0.029%—$1.33B—as long as short
Bybit BTCUSDT+0.0040%8h86,043.1+0.031%$5.15B$8.13B150xas long as short
KuCoin XBTUSDTM+0.0054%8h86,036.4+0.023%$943.2M$633.5M125xas long as short
Gate BTC_USDT+0.0061%8h86,041.7+0.029%$5.51B$8.90B200xas long as short
Popdex BTCUSDT+0.0064%1h86,032+0.018%$8.5M$45.6M100xas long as short
Phemex BTCUSDT+0.0085%8h86,036.2+0.023%$170.8M$478.7M150xas long as short
Bitget BTCUSDT+0.0093%8h86,031.8+0.018%$2.99B$3.96B150xas long as short
HTX BTC-USDT+0.0095%8h86,031.6+0.017%$2.27B$803.8M200xas long as short
Lighter BTC+0.0096%1h86,047.5+0.036%$173.9M$855.2M50xas long as short
Lighter RH BTC+0.0096%1h86,047+0.035%$23.4M$119.1M50xas long as short
Aevo BTC-PERP+0.0096%1h86,019.7+0.004%$2.4M$6.8M20xas long as short
Binance BTCUSDT+0.0098%8h86,032+0.018%$9.45B$20.50B150xas long as short
MEXC BTC_USDT+0.0098%8h86,031.9+0.018%$5.16B$4.83B500xas long as short
Katana Perps BTC-USD+0.0100%8h86,014−0.003%$217K$8.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,080.9+0.075%$6.0M$7.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,041.1+0.029%$23.5M$195.5M50xas long as short
Pacifica BTC+0.0100%1h86,075+0.068%$40.1M$571.2M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,051.3+0.040%$2.62B$9.49B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,028+0.013%$4.0M$15.0M25xas long as short
Arcus BTC-USD+0.0100%1h86,062.5+0.053%$4.7M$91.1M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,016.90.000%$38.2M$195.4M75xas long as short
Variational Omni BTC+0.0100%8h86,070.8+0.063%$156.6M$475.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,058.2+0.048%$289.8M$814.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,064.6+0.056%$216.2M$134.1M50xas long as short
StandX BTC-USD+0.0100%1h86,073.2+0.066%$30.3M$223.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,092.4+0.088%—$9.4M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,040+0.027%$11.1M$12.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,043+0.031%$205K$3.2M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,021.1+0.005%$2.6M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,079.4+0.073%$195K$554K40xas long as short
SunX BTC-USDT+0.0100%8h86,038.4+0.025%$3.3M$6.7M100xas long as short
Bulk BTC-USD+0.0100%1h86,033.4+0.020%$715.3M$125.7M40xas long as short
Extended BTC-USD+0.0104%1h86,003.6−0.015%$46.9M$200.7M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,039.6+0.027%—$81.6M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,082.2+0.076%$112.2M$4.97B50xas long as short
Hyperliquid BTC+0.0150%1h86,130+0.132%$3.97B$4.36B40xas long as short
Kalshi KXBTCPERP+0.0159%8h86,080+0.074%$12.0M$733.9M6.4xas long as short
Reya BTCRUSDPERPlong+0.0164%1h86,016.6long leg$6.6M$131.1M40x
RISEx BTC/USDC+0.0187%1h86,061.2+0.052%$8.9M$37.1M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0211% / S −0.0252%1h86,051.8+0.041%$15.6M—200xas long as short
Deribit BTC-PERPETUAL+0.0260%1h86,097.6+0.094%$822.8M$1.50B50xas long as short
Hibachi BTC/USDT-P+0.0352%1h86,080.2+0.074%$725K$7.0M30xas long as short
Aftermath Perps BTCUSD+0.0444%1h86,098.4+0.095%$79K$245K20xas long as short