Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0201%/8h= +22.0% APRpaid last 24h +0.060%

Price spread now: BingX against Reya+0.047%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 BingX

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 BingX is 0.047% dearer against Reya than usual: you sell high and buy low: +$5 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	0.03989	−0.0101	get 0.0013% / 1h	30m 14s	$4	—	15x
Short	BingX S-USDT	0.03991	0.0100	get 0.0050% / 4h	3h 30m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $42.26
Price spread: +0.047% → 0.000%: $4.66
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $30.91
Costs to cover: 0.160%
Break-even: 1.9 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 7 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 BingX live order book, 7 min ago	5.03 bp	18.1 bp −$18	53.5 bp −$535	346.4 bp −$34.6K	746.6 bp −$373.3K

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	−0.3144%	1h	0.03990	+0.021%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2024%	1h	0.03991	+0.044%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−4.090%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0817%	4h	0.03983	−0.144%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03993	+0.087%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03989	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03992	+0.077%	$615	—	150x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03991	+0.047%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.779%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03995	+0.147%	$163K	$191K	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	0.03992	+0.074%	$999K	$630K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03991	+0.038%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03991	+0.047%	$5.5M	$15.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03988	−0.029%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03990	+0.021%	$984K	$4.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03987	−0.054%	$326K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03990	+0.021%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03992	+0.072%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03995	+0.147%	$1.2M	$2.4M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03991	+0.047%	—	$6.7M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+0.021%	$116K	$321K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+0.021%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03989	−0.006%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03992	+0.072%	$269K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0501%	1h	0.03996	+0.172%	$67K	$10K	10x	as long as short