Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.067%

Price spread now: Reya against MEXC−0.192%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Reya

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

Funding pays, the price is against you. Reya is 0.192% cheaper against MEXC than usual: you would sell low and buy high (spread −0.192% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 2.9 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SHIB_USDT	0.000006000	0.0100	pay 0.0100% / 8h	49m 57s	$27.9M	$19.7M	300x
Short	Reya kSHIBRUSDPERP	0.000005988	0.0323	get 0.0040% / 1h	49m 57s	$1	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against MEXC. 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 MEXCbpFee ReyabpOrdersPrice spread, now −0.192%Rate

Funding earned: $46.75
Price spread: −0.192% → 0.000%: −$19.22
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $21.53
Costs to cover: 0.060%
Break-even: 3.8 days

Slippage unknown: MEXC: 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 MEXC live order book, 4 min ago	0.83 bp	5.1 bp −$5	9.4 bp −$94	53.5 bp −$5,350	84.2 bp −$42.1K
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.

SHIB on 29 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
Coinbase International 1000SHIB-PERP-INTX	−0.0016%	1h	0.000005997	−0.050%	$116K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005999	−0.020%	$23K	$57K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005990	−0.173%	$116K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005989	−0.177%	$565	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.667%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000006001	+0.017%	—	$2.3M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0084%	1h	0.000005997	−0.050%	$50K	$59K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006001	+0.017%	$156K	$640K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006000	+0.002%	$41K	$331K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005988	−0.200%	$12K	$5K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006005	+0.083%	$30.1M	$127.0M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006000	0.000%	$9.2M	$43.2M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005997	−0.050%	$7.0M	$7.2M	75x	as long as short
MEXC SHIB_USDTlong	+0.0100%	8h	0.000006000	long leg	$27.9M	$19.7M	300x
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006001	+0.017%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006001	+0.017%	$11.4M	$17.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006002	+0.033%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005997	−0.050%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006002	+0.033%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005998	−0.033%	$508	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005994	−0.100%	$408K	$575K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005995	−0.083%	$2.1M	$7.6M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005999	−0.010%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0104%	8h	0.000005991	−0.157%	$7K	$13	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0200%	1h	0.000005997	−0.052%	$1.1M	$1.0M	50x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.667%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005992	−0.133%	$861K	$932K	50x	as long as short
Hyperliquid kSHIB	+0.0244%	1h	0.000006008	+0.133%	$3.6M	$5.4M	10x	as long as short
Reya kSHIBRUSDPERPshort	+0.0323%	1h	0.000005988	−0.192%	$1	—	20x