Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0005%/8h= −0.6% APRnext payment −$0.01 per $10,000 · paid last 24h —

Price spread now: Reya against gTrade (Gains Network)−20.862%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Reya is 20.862% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$2,086 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09567	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	46m 59s	$72K	—	150x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	46m 59s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee ReyabpOrdersPrice spread, now −20.862%Rate

Funding earned: −$1.15
Price spread: −20.862% → 0.000%: −$2,086.21
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,103.36
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

gTrade (Gains Network) and 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	−0.1368%	1h	0.09548	−0.194%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09566	−0.006%	$556	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0377%	1h	0.09560	−0.068%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09564	−0.031%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0160%	4h	0.09552	−0.152%	$45.4M	$54.0M	75x	as long as short
Paradex XPL-USD-PERP	−0.0080%	8h	0.09566	−0.004%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09555	−0.121%	$30K	$277K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0009%	4h	0.09551	−0.162%	$7.7M	$47.6M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09568	+0.019%	$9K	$600	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−20.862%	—	—	—

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09567	long leg	$72K	—	150x
Nado XPL-PERP	+0.0100%	1h	0.09571	+0.044%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09577	+0.106%	$60.6M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09565	−0.015%	$253K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09577	+0.114%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09554	−0.130%	$43.4M	$97.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09562	−0.047%	$2.9M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09556	−0.110%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09552	−0.152%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09567	+0.005%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09551	−0.162%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09565	−0.016%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09553	−0.142%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09540	−0.276%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	−0.068%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09576	+0.099%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.173%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.068%	$194	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09558	−0.089%	$132K	$210K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.273%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09551	−0.162%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09556	−0.114%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09563	−0.037%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09569	+0.026%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.308%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2704%	1h	0.09594	+0.284%	$544K	$943K	10x	as long as short