Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Reya against Bitget−21.064%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 21.064% cheaper against Bitget than usual: you would sell low and buy high (−$2,106 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	Bitget XPLUSDT	0.09591	0.0100	pay 0.0050% / 4h	1h 43m	$8.5M	$11.1M	75x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	43m 59s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now −21.064%Rate

Funding earned: −$21
Price spread: −21.064% → 0.000%: −$2,106.43
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,145.43
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	4.70 bp	14.1 bp −$14	26.8 bp −$268	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
Backpack XPL_USDC_PERP	−0.0679%	1h	0.09593	+0.021%	$180K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09567	−0.250%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0245% / S +0.0574%	1h	0.09582	−0.092%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0063%	1h	0.09586	−0.052%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0004%	4h	0.09581	−0.104%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09564	−0.284%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.064%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09583	−0.082%	$72K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09577	−0.146%	$4.3M	$4.2M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0033%	4h	0.09590	−0.010%	$8.3M	$53.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0050%	8h	0.09567	−0.255%	$12K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09577	−0.149%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09597	+0.059%	$60.4M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09587	−0.045%	$244K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	−0.219%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09587	−0.037%	$43.5M	$108.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09582	−0.094%	$45.5M	$56.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.532%	$139K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09585	−0.063%	$2.9M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09587	−0.042%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09574	−0.177%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09591	long leg	$8.5M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09586	−0.052%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09526	−0.679%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09550	−0.427%	$258K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09550	−0.427%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09582	−0.094%	$127K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.219%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	−0.115%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09574	−0.177%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09583	−0.079%	$632K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09578	−0.131%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09573	−0.188%	$194K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09561	−0.313%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09586	−0.052%	$74K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3575%	1h	0.09615	+0.248%	$545K	$1.0M	10x	as long as short