Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.048%

Price spread now: Reya against KuCoin+0.146%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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

The price spread pays, funding is against you. Reya is 0.146% dearer against KuCoin than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.04042	0.0100	pay 0.0050% / 4h	2h 38m	$1.9M	$2.9M	50x
Short	Reya SRUSDPERP	0.04048	−0.0101	pay 0.0013% / 1h	38m 06s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now +0.146%Rate

Funding earned: −$42.26
Price spread: +0.146% → 0.000%: $14.56
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$45.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	4.93 bp	99.8 bp −$100	376.5 bp −$3,765	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 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	−0.7928%	1h	0.04050	+0.198%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−0.495%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1255%	1h	0.04037	−0.131%	$34K	$23K	10x	as long as short
Variational Omni S	−0.0529%	4h	0.04046	+0.096%	$626K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04045	+0.077%	$1K	—	100x	as long as short
Reya SRUSDPERPshort	−0.0101%	1h	0.04048	+0.146%	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04047	+0.125%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.435%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0041%	4h	0.04046	+0.099%	$102K	$333K	10x	as long as short
Lighter S	+0.0096%	1h	0.04044	+0.049%	$167K	$165K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04044	+0.052%	$1.0M	$571K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04048	+0.155%	$44K	$137K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04046	+0.099%	$5.6M	$15.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04040	−0.049%	$5.8M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04045	+0.074%	$1.0M	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04041	−0.025%	$335K	$203K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04038	−0.099%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.04042	long leg	$1.9M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.04040	−0.049%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04043	+0.025%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04030	−0.297%	$26K	$449K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04038	−0.110%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04024	−0.445%	$272K	$122K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0492%	1h	0.04044	+0.049%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0993%	1h	0.04050	+0.198%	$119K	$343K	5x	as long as short