Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Reya against Aster−22.355%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Reya is 22.355% cheaper against Aster than usual: you would sell low and buy high (−$2,235 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09751	0.0100	pay 0.0050% / 4h	2h 48m	$253K	$527K	20x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	48m 16s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −22.355%Rate

Funding earned: −$21
Price spread: −22.355% → 0.000%: −$2,235.48
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,270.48
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 39 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 Aster live order book, 39 min ago	4.04 bp	25.4 bp −$25	174.9 bp −$1,749	doesn't fit	doesn't fit
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.

XPL on 36 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
Lighter XPL	−0.0304%	1h	0.09760	+0.097%	$4.4M	$4.2M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0264%	1h	0.09715	−0.364%	$179K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0068% / S +0.0478%	1h	0.09764	+0.140%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0057%	1h	0.09768	+0.179%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09741	−0.098%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−22.355%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09765	+0.151%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09764	+0.138%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09749	−0.012%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09740	−0.103%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09748	−0.022%	$62.8M	$47.0M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09751	long leg	$253K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09745	−0.055%	$221K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09771	+0.210%	$44.3M	$104.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09771	+0.210%	$47.2M	$52.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09776	+0.261%	$9.0M	$53.0M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09740	−0.108%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09768	+0.179%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09766	+0.159%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09778	+0.282%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09760	+0.097%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.164%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09737	−0.138%	$264K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.108%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09752	+0.010%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.005%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09760	+0.097%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09740	−0.108%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.210%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09762	+0.120%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09770	+0.200%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0176%	1h	0.09740	−0.108%	$566	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09708	−0.436%	$1.8M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	−0.087%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09787	+0.374%	$74K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3483%	1h	0.09817	+0.679%	$517K	$933K	10x	as long as short