Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.025%

Price spread now: Orderly against Reya+0.036%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 Orderly

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 pays, funding is against you. Orderly is 0.036% dearer against Reya than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TIARUSDPERP	0.4429	0.0180	pay 0.0022% / 1h	27m 53s	$6K	—	15x
Short	Orderly PERP_TIA_USDC	0.4431	0.0100	get 0.0050% / 4h	1h 27m	$5K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.036%Rate

Funding earned: −$16.8
Price spread: +0.036% → 0.000%: $3.6
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.2
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Orderly: 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and Orderly: 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.

TIA on 27 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
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4431	+0.036%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4433	+0.081%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0018%	4h	0.4427	−0.054%	$4.3M	$9.0M	50x	as long as short
Bybit TIAUSDT	+0.0022%	4h	0.4427	−0.054%	$9.6M	$13.4M	50x	as long as short
ApeX Omni TIAUSDT	+0.0059%	1h	0.4451	+0.488%	$50K	$231K	50x	as long as short
Variational Omni TIA	+0.0061%	4h	0.4448	+0.411%	$104K	$85K	—	as long as short
Kraken Futures PF_TIAUSD	+0.0074%	1h	0.4435	+0.117%	$362K	$205K	50x	as long as short
OKX TIA-USDT-SWAP	+0.0078%	4h	0.4429	−0.009%	$2.8M	$6.1M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4436	+0.160%	$156K	$415K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4437	+0.174%	$4.8M	$1.6M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4435	+0.125%	$32K	$246K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4432	+0.059%	$14.6M	$42.8M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4431	+0.036%	$997K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4430	+0.013%	$12.3M	$6.6M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4428	−0.032%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4428	−0.032%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4433	+0.072%	$102K	$154K	10x	as long as short
Orderly PERP_TIA_USDCshort	+0.0100%	4h	0.4431	+0.036%	$5K	$316K	10x
HTX TIA-USDT	+0.0100%	4h	0.4434	+0.104%	$59K	$74K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4428	−0.025%	$56K	$213K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4431	+0.047%	$7K	—	3x	as long as short
Reya TIARUSDPERPlong	+0.0180%	1h	0.4429	long leg	$6K	—	15x
dYdX TIA-USD	+0.0234%	1h	0.4434	+0.105%	$53K	$199	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4448	+0.420%	$1.4M	$720K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4460	+0.691%	$52K	$77K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0495% / S −0.1196%	1h	0.4433	+0.089%	$41K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4441	+0.262%	$26K	$10K	12x	as long as short