Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0101%/8h= +11.0% APRpaid last 24h +0.003%

Price spread now: OKX against Reya+0.009%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 OKX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SRUSDPERP	0.03954	−0.0101	get 0.0013% / 1h	32m 25s	$4	—	15x
Short	OKX S-USDT-SWAP	0.03954	−0.0001	pay 0.0000% / 4h	3h 32m	$984K	$9.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $21.15
Price spread: +0.009% → 0.000%: $0.93
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: $6.08
Costs to cover: 0.160%
Break-even: 5.0 days

Slippage unknown: Reya: no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	1.27 bp	27.9 bp −$28	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	−0.1553%	1h	0.03947	−0.175%	$34K	$35K	10x	as long as short
Variational Omni S	−0.1341%	4h	0.03951	−0.078%	$615K	$102K	—	as long as short
Coinbase International S-PERP-INTX	−0.1272%	1h	0.03826	−3.228%	$47K	$7K	25x	as long as short
01 Exchange SUSD	−0.0648%	1h	0.03950	−0.092%	$24K	$3K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03960	+0.164%	$1K	—	100x	as long as short
Reya SRUSDPERPlong	−0.0101%	1h	0.03954	long leg	$4	—	15x
Aster SUSDT	−0.0021%	4h	0.03958	+0.110%	$43K	$237K	10x	as long as short
Orderly PERP_S_USDC	−0.0020%	4h	0.03949	−0.117%	$101K	$332K	10x	as long as short
OKX S-USDT-SWAPshort	−0.0001%	4h	0.03954	+0.009%	$984K	$9.6M	20x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03960	+0.149%	$610	—	150x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit S_USDC-PERPETUAL	+0.0003%	1h	0.03953	−0.016%	$66K	$10K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.702%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03962	+0.212%	$166K	$265K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03955	+0.027%	$998K	$1.0M	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03957	+0.073%	$5.4M	$28.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03951	−0.067%	$5.6M	$7.4M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03951	−0.067%	$323K	$308K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03956	+0.060%	$3.8M	$3.1M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03954	+0.009%	$1.9M	$3.3M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03958	+0.110%	$1.2M	$3.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03952	−0.041%	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	−0.092%	$26K	$476K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03954	+0.002%	$222K	$888K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03953	−0.016%	$276K	$247K	75x	as long as short
Backpack S_USDC_PERP	+0.0480%	1h	0.03970	+0.414%	$115K	$280K	5x	as long as short