Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0824%/8h= −90.2% APRnext payment −$1.03 per $10,000 · paid last 24h —

Price spread now: Reya against Coinbase International−23.094%7-day average — · you buy dearer than you sell

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

Long on Coinbase International 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 −$25 a day on $10k at the current rate, and Reya is 23.094% cheaper against Coinbase International than usual: you would sell low and buy high (−$2,309 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	Coinbase International XPL-PERP-INTX	0.09844	0.0824	pay 0.0103% / 1h	29m 39s	$74K	$103K	50x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	29m 39s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Coinbase International. 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 Coinbase InternationalbpFee ReyabpOrdersPrice spread, now −23.094%Rate

Funding earned: −$173.04
Price spread: −23.094% → 0.000%: −$2,309.4
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,498.44
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 58 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 Coinbase International live order book, 58 min ago	32.79 bp	38.1 bp −$38	231.6 bp −$2,316	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	−0.0120%	1h	0.09756	−0.894%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0077% / S +0.0484%	1h	0.09769	−0.763%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0015%	1h	0.09765	−0.803%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09765	−0.800%	$8K	—	5x	as long as short
01 Exchange XPLUSD	0.0000%	1h	0.09764	−0.813%	$568	$582	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−23.094%	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09771	−0.742%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09770	−0.754%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09766	−0.792%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09765	−0.805%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09765	−0.800%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09772	−0.735%	$62.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09764	−0.811%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09770	−0.752%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09767	−0.782%	$44.1M	$104.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09770	−0.752%	$47.6M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09768	−0.772%	$9.0M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−1.056%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09761	−0.843%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09772	−0.731%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09763	−0.823%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09771	−0.742%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09755	−0.904%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09744	−1.015%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09764	−0.815%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−1.056%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09776	−0.692%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−1.056%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09760	−0.853%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	−1.026%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09756	−0.891%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09771	−0.738%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09736	−1.097%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	−0.721%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0824%	1h	0.09844	long leg	$74K	$103K	50x
Kraken Futures PF_XPLUSD	+0.3487%	1h	0.09806	−0.388%	$516K	$940K	10x	as long as short