Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Reya against Binance−22.837%7-day average — · you buy dearer than you sell

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

Long on Binance 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 airdropReya: 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 22.837% cheaper against Binance than usual: you would sell low and buy high (−$2,284 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	Binance XPLUSDT	0.09811	0.0100	pay 0.0050% / 4h	54m 12s	$44.5M	$107.5M	75x
Short	Reya XPLRUSDPERP	0.07570	0	get 0.0000% / 1h	54m 12s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now −22.837%Rate

Funding earned: −$21
Price spread: −22.837% → 0.000%: −$2,283.73
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,320.73
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Binance: 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 Binance live order book, 4 min ago	0.51 bp	10.4 bp −$10	22.8 bp −$228	124.0 bp −$12.4K	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
01 Exchange XPLUSD	−0.0280%	1h	0.09808	−0.031%	$570	$708	5x	as long as short
Lighter XPL	−0.0272%	1h	0.09800	−0.112%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0123% / S +0.0514%	1h	0.09816	+0.049%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09814	+0.031%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09816	+0.053%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07570	−22.837%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09813	+0.023%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09809	−0.020%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09806	−0.051%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09810	−0.005%	$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	0.09828	+0.174%	$63.7M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09817	+0.056%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09813	+0.023%	$223K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09811	long leg	$44.5M	$107.5M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09813	+0.020%	$48.2M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09806	−0.051%	$8.9M	$54.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09809	−0.020%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09809	−0.020%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09805	−0.061%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09821	+0.102%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09809	−0.020%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09814	+0.031%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09788	−0.233%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09777	−0.346%	$260K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.112%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09821	+0.101%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.214%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09810	−0.010%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09788	−0.234%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.214%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09809	−0.019%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09814	+0.035%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09801	−0.102%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09802	−0.092%	$198K	$651K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.143%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5064%	1h	0.09857	+0.474%	$567K	$1.0M	10x	as long as short