Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0342%/8h= −37.5% APRpaid last 24h −0.100%

Price spread now: HTX against Reya+0.133%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 HTX

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. HTX is 0.133% dearer against Reya than usual: you sell high and buy low (spread +0.133% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya OPRUSDPERP	0.1260	0.0442	pay 0.0055% / 1h	6m 51s	$700	—	20x
Short	HTX OP-USDT	0.1261	0.0100	get 0.0100% / 8h	3h 06m	$171K	$229K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$71.82
Price spread: +0.133% → 0.000%: $13.34
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$76.48
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 45 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 HTX live order book, 45 min ago	7.42 bp	20.6 bp −$21	doesn't fit	doesn't fit	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.

OP on 30 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
Injective OP/USDC PERP	−0.1568%	1h	0.1254	−0.454%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	+0.093%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1260	+0.004%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1261	+0.102%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1261	+0.095%	—	—	150x	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1270	+0.816%	$25K	$56K	50x	as long as short
Variational Omni OP	+0.0038%	8h	0.1258	−0.135%	$223K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1260	+0.022%	$6K	$46K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0057%	1h	0.1261	+0.115%	$773K	$547K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1262	+0.141%	$275K	$950K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX OP-USDT-SWAP	+0.0096%	8h	0.1262	+0.165%	$6.2M	$28.4M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1263	+0.221%	$3.7M	$2.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1262	+0.181%	$211K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1262	+0.173%	$20.3M	$61.1M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1261	+0.086%	$18.5M	$24.8M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1262	+0.181%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1262	+0.173%	$21.2M	$7.4M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1260	+0.022%	$2.8M	$6.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1261	+0.102%	$5.8M	$6.5M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1261	+0.102%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1260	+0.062%	$117K	$206K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1258	−0.165%	$4K	$386K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1257	−0.215%	$314K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1259	−0.057%	$43K	$706K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1261	+0.094%	$199	$6K	5x	as long as short
HTX OP-USDTshort	+0.0100%	8h	0.1261	+0.133%	$171K	$229K	50x
Extended OP-USD	+0.0104%	1h	0.1261	+0.129%	$101K	$411K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1261	+0.091%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1261	+0.102%	$1.0M	$278K	75x	as long as short
Reya OPRUSDPERPlong	+0.0442%	1h	0.1260	long leg	$700	—	20x