S

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0575%/8h= −62.9% APRnext payment −$0.72 per $10,000 · paid last 24h −0.224%

Price spread now: Reya against Backpack−0.267%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Reya is 0.267% cheaper against Backpack than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.04580	0.0473	pay 0.0059% / 1h	50m 57s	$103K	$454K	5x
Short	Reya SRUSDPERP	0.04568	−0.0101	pay 0.0013% / 1h	50m 57s	$5	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now −0.267%Rate

Funding earned: −$120.68
Price spread: −0.267% → 0.000%: −$26.66
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$163.34
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 56 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 Backpack live order book, 56 min ago	10.93 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
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.

S on 25 exchanges

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
01 Exchange SUSD	−0.7368%	1h	0.04470	−2.402%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.3582%	1h	0.04547	−0.727%	$39K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1880%	1h	0.04510	−1.528%	$55K	$21K	25x	as long as short
Variational Omni S	−0.1347%	4h	0.04547	−0.725%	$729K	$52K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0254% / S +0.0167%	1h	0.04578	−0.039%	$2K	—	100x	as long as short
Orderly PERP_S_USDC	−0.0145%	4h	0.04572	−0.175%	$113K	$632K	10x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.04568	−0.267%	$5	—	15x
OKX S-USDT-SWAP	−0.0094%	4h	0.04564	−0.349%	$1.4M	$7.9M	20x	as long as short
Bybit SUSDT	−0.0015%	4h	0.04557	−0.502%	$6.5M	$6.8M	50x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04578	−0.044%	$77K	$623	10x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04576	−0.082%	$705	—	150x	as long as short
Hyperliquid S	+0.0026%	1h	0.04569	−0.245%	$1.2M	$1.1M	5x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04600	+0.437%	$2K	$2	12x	as long as short
Lighter S	+0.0096%	1h	0.04568	−0.262%	$160K	$154K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04568	−0.262%	$48K	$188K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04553	−0.598%	$6.9M	$26.8M	75x	as long as short
Gate S_USDT	+0.0100%	4h	0.04565	−0.328%	$385K	$385K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04562	−0.393%	$4.1M	$3.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04559	−0.459%	$2.2M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04566	−0.306%	$1.3M	$3.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04556	−0.524%	—	$7.1M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04540	−0.873%	$25K	$536K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04561	−0.421%	$260K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04555	−0.546%	$341K	$243K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0473%	1h	0.04580	long leg	$103K	$454K	5x