Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0201%/8h= +22.0% APRpaid last 24h +0.056%

Price spread now: Binance against Reya+0.161%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 Binance

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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and Binance is 0.161% dearer against Reya than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SRUSDPERP	0.03994	−0.0101	get 0.0013% / 1h	19m 47s	$4	—	15x
Short	Binance SUSDT	0.04000	0.0100	get 0.0050% / 4h	19m 47s	$5.5M	$13.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.161%Rate

Funding earned: $42.26
Price spread: +0.161% → 0.000%: $16.15
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: $42.4
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Binance: live order book, 6 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 Binance live order book, 6 min ago	2.47 bp	20.4 bp −$20	74.8 bp −$748	549.1 bp −$54.9K	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.

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	−0.7024%	1h	0.03970	−0.590%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2559%	1h	0.03990	−0.095%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03963	−0.765%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03998	+0.116%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03994	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03998	+0.111%	$3K	—	150x	as long as short
Variational Omni S	+0.0014%	4h	0.03993	−0.020%	$619K	$30K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.665%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0065%	4h	0.03997	+0.086%	$99K	$293K	10x	as long as short
Lighter S	+0.0096%	1h	0.04000	+0.161%	$168K	$156K	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	0.04000	+0.151%	$997K	$551K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04001	+0.192%	$44K	$131K	10x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.04000	+0.161%	$5.5M	$13.7M	75x
Bybit SUSDT	+0.0100%	4h	0.03998	+0.111%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04000	+0.161%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03996	+0.061%	$327K	$191K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03999	+0.136%	$3.8M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03993	−0.014%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04002	+0.212%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03998	+0.111%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04040	+1.163%	$25K	$461K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03997	+0.091%	$229K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03999	+0.136%	$278K	$96K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0500%	1h	0.04002	+0.212%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0992%	1h	0.04010	+0.412%	$117K	$415K	5x	as long as short