Funding you earn now, next payment 08:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h +0.028%
Price spread now: Orderly against Reya+0.011%7-day average +0.015% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.016%+$2 on $10k
+Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.011%, 7d avg +0.015%
=Together, before fees+0.006%+ Points / potential airdropReya: Active · farm board+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya BTCRUSDPERP | 85,322.2 | 0.0136 | pay 0.0017% / 1h | 52m 16s | $6.6M | $146.9M | 40x |
| Short | Orderly PERP_BTC_USDC | 85,331.2 | 0.0100 | get 0.0100% / 8h | 52m 16s | $2.6M | $9.8M | 100x |
Reya BTCRUSDPERP
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Reya. 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
- −$7.62
- Price spread: +0.011% → +0.015%
- −$0.42
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$20.04
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Orderly: 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 Reya no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Reya and Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,325 | +0.003% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,409 | +0.102% | $2.3M | $10.8M | 40x | as long as short |
| KuCoin XBTUSDTM | −0.0030% | 8h | 85,325 | +0.003% | $928.1M | $773.2M | 125x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,310.6 | −0.014% | $421.6M | $681.2M | 150x | as long as short |
| Aster BTCUSDT | −0.0005% | 8h | 85,323.1 | +0.001% | $511.9M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,332.1 | +0.012% | $16.7M | $21.0M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,333.8 | +0.014% | $490K | $18.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,347.4 | +0.030% | $36.5M | — | 200x | as long as short |
| 01 Exchange BTCUSD | +0.0008% | 1h | 85,340 | +0.021% | $351K | $2.3M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,362.2 | +0.047% | $185.7M | $951.6M | 100x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
01 Exchange BTCUSD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0030% | 1h | 85,327.1 | +0.006% | $139.5M | $313.0M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,367 | +0.053% | $338K | $24.6M | 52x | as long as short |
| BingX BTC-USDC | +0.0071% | 8h | 85,314.4 | −0.009% | — | $17.3M | — | as long as short |
| Bybit BTCUSDT | +0.0086% | 8h | 85,323.2 | +0.001% | $5.13B | $9.98B | 150x | as long as short |
| Bitget BTCUSDT | +0.0091% | 8h | 85,340.6 | +0.022% | $2.97B | $5.17B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,336 | +0.016% | $169.3M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,332.8 | +0.012% | $23.6M | $147.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,333 | +0.013% | $8.4M | $57.3M | 100x | as long as short |
| MEXC BTC_USDT | +0.0096% | 8h | 85,333.3 | +0.013% | $5.04B | $5.71B | 500x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,329.7 | +0.009% | $2.4M | $6.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,333.4 | +0.013% | $9.39B | $24.97B | 150x | as long as short |
| Nado BTC-PERP | +0.0098% | 1h | 85,318.2 | −0.005% | $24.1M | $219.6M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,309 | −0.015% | $267K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,357.2 | +0.041% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,412 | +0.105% | $3.74B | $5.06B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,357 | +0.041% | $39.9M | $605.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,336.1 | +0.016% | $2.60B | $12.19B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,331 | +0.010% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,322.7 | +0.001% | $5.1M | $96.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,324.1 | +0.002% | $690.8M | $302.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,336.1 | +0.016% | $5.53B | $10.99B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,307 | −0.018% | $37.1M | $184.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,296 | −0.031% | $156.1M | $556.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,321.4 | −0.001% | $279.5M | $951.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,315.9 | −0.007% | $214.1M | $158.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,326.4 | +0.005% | $30.1M | $208.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,388.5 | +0.078% | — | $9.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,337 | +0.017% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,339 | +0.020% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0100% | 8h | 85,331.2 | +0.011% | $2.6M | $9.8M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,369 | +0.055% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,274.1 | −0.056% | $30.0M | $46.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,307 | −0.018% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,336 | +0.016% | $59.7M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,326 | +0.004% | $2.26B | $964.3M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,357.1 | +0.041% | $157.4M | $512.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,309 | −0.016% | $45.6M | $241.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,327.5 | +0.006% | — | $104.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,369.9 | +0.056% | $112.7M | $5.47B | 50x | as long as short |
| Reya BTCRUSDPERPlong | +0.0136% | 1h | 85,322.2 | long leg | $6.6M | $146.9M | 40x | |
| Deribit BTC-PERPETUAL | +0.0154% | 1h | 85,381.4 | +0.069% | $841.9M | $1.65B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0169% | 8h | 85,335 | +0.015% | $11.9M | $738.1M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,353.2 | +0.036% | $8.7M | $42.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,344.7 | +0.026% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,382.5 | +0.071% | $684K | $7.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0285% | 1h | 85,356 | +0.040% | $79K | $247K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDC
Bybit BTCUSDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Nado BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD