Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against Extended−21.241%48s7-day average — · you buy dearer than you sell

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

Long on Extended 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 airdropExtended: Active · 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 21.241% cheaper against Extended than usual: you would sell low and buy high (−$2,124 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09612	0.0104	pay 0.0013% / 1h	9m 36s	$653K	$1.1M	25x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	9m 36s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Extended. 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 ExtendedbpFee ReyabpOrdersPrice spread, now −21.241%Rate

Funding earned: −$21.84
Price spread: −21.241% → 0.000%: −$2,124.13
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,156.97
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: 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 Extended live order book, 4 min ago	4.66 bp	8.9 bp −$9	24.2 bp −$242	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
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09632	+0.203%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09603	−0.099%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09636	+0.242%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0064%	1h	0.09627	+0.151%	$175K	$190K	10x	as long as short
Bybit XPLUSDT	−0.0011%	4h	0.09608	−0.047%	$45.4M	$54.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09629	+0.173%	$9K	$585	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.241%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09638	+0.261%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09627	+0.151%	$29K	$339K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09617	+0.047%	$4.4M	$3.0M	10x	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	+0.0046%	8h	0.09621	+0.089%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09616	+0.037%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09634	+0.223%	$61.1M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09623	+0.106%	$251K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09627	+0.147%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09612	−0.009%	$43.6M	$100.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09609	−0.036%	$8.2M	$48.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09650	+0.390%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09618	+0.057%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09620	+0.078%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09617	+0.047%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09625	+0.130%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09615	+0.026%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09633	+0.211%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09655	+0.445%	$260K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.598%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09640	+0.289%	$128K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	+0.078%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	+0.182%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09634	+0.224%	$141K	$185K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09612	long leg	$653K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09630	+0.182%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09670	+0.598%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	+0.276%	$1.8M	$959K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.994%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3116%	1h	0.09665	+0.548%	$550K	$990K	10x	as long as short