Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.060%

Price spread now: Reya against BingX−0.184%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Reya

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.184% cheaper against BingX than usual: you would sell low and buy high (−$18 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	BingX S-USDT	0.04049	0.0100	pay 0.0050% / 4h	1h 58m	—	$6.8M	—
Short	Reya SRUSDPERP	0.04042	−0.0101	pay 0.0013% / 1h	58m 55s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BingX. 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 BingXbpFee ReyabpOrdersPrice spread, now −0.184%Rate

Funding earned: −$42.26
Price spread: −0.184% → 0.000%: −$18.36
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$76.62
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 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 BingX live order book, 9 min ago	4.91 bp	20.2 bp −$20	58.5 bp −$585	461.9 bp −$46.2K	774.7 bp −$387.4K
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 24 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
01 Exchange SUSD	−0.7792%	1h	0.03950	−2.445%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1700%	1h	0.04041	−0.196%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−0.667%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0350%	4h	0.04052	+0.081%	$630K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04043	−0.143%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.04042	−0.184%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04045	−0.097%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.260%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0054%	4h	0.04043	−0.148%	$100K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04049	0.000%	$168K	$155K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04045	−0.094%	$1.0M	$563K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04047	−0.047%	$44K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04051	+0.045%	$5.6M	$14.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04045	−0.099%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04049	0.000%	$1.0M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04047	−0.049%	$333K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04050	+0.025%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04049	0.000%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04048	−0.025%	$1.2M	$2.2M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04049	long leg	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04060	+0.272%	$24K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04048	−0.030%	$228K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0491%	1h	0.04049	0.000%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0559%	1h	0.04050	+0.025%	$118K	$350K	5x	as long as short