Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0201%/8h= +22.0% APRpaid last 24h +0.060%

Price spread now: Gate against Reya+0.103%62s7-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 Gate

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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and Gate is 0.103% dearer against Reya than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SRUSDPERP	0.04439	−0.0101	get 0.0013% / 1h	0m 16s	$4	—	15x
Short	Gate S_USDT	0.04444	0.0100	get 0.0050% / 4h	3h 00m	$374K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.103%Rate

Funding earned: $42.25
Price spread: +0.103% → 0.000%: $10.29
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $31.54
Costs to cover: 0.210%
Break-even: 1.8 days

Slippage unknown: Reya: no order-book sample; Gate: live order book, 30 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 Gate live order book, 30 min ago	8.05 bp	89.3 bp −$89	doesn't fit	doesn't fit	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
Kraken Futures PF_SUSD	−0.2571%	1h	0.04413	−0.590%	$38K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04308	−2.961%	$53K	$18K	25x	as long as short
01 Exchange SUSD	−0.1040%	1h	0.04450	+0.238%	$27K	$3K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04453	+0.294%	$2K	—	100x	as long as short
Variational Omni S	−0.0135%	4h	0.04430	−0.220%	$688K	$7K	—	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.04439	long leg	$4	—	15x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04455	+0.345%	$687	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−7.646%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0063%	4h	0.04451	+0.261%	$111K	$648K	10x	as long as short
Lighter S	+0.0096%	1h	0.04451	+0.261%	$155K	$150K	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	0.04450	+0.243%	$1.1M	$779K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04452	+0.291%	$47K	$189K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04452	+0.283%	$6.5M	$18.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04445	+0.125%	$6.3M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04444	+0.103%	$1.3M	$5.4M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.04444	+0.103%	$374K	$239K	50x
MEXC S_USDT	+0.0100%	4h	0.04450	+0.238%	$4.6M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04451	+0.261%	$2.1M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04452	+0.283%	$1.3M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04450	+0.238%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04370	−1.564%	$25K	$516K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04448	+0.193%	$244K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04446	+0.148%	$314K	$202K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0648%	1h	0.04459	+0.441%	$75K	$512	10x	as long as short
Backpack S_USDC_PERP	+0.0913%	1h	0.04440	+0.013%	$104K	$473K	5x	as long as short