Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Reya against GRVT−21.595%7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: 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 21.595% cheaper against GRVT than usual: you would sell low and buy high (−$2,160 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	GRVT XPL_USDT_Perp	0.09656	0.0100	pay 0.0050% / 4h	3h 59m	$258K	$1.0M	10x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	59m 25s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against GRVT. 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 GRVTbpFee ReyabpOrdersPrice spread, now −21.595%Rate

Funding earned: −$21
Price spread: −21.595% → 0.000%: −$2,159.52
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,195.52
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 59 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 GRVT live order book, 59 min ago	5.24 bp	45.7 bp −$46	316.0 bp −$3,160	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
01 Exchange XPLUSD	−0.0544%	1h	0.09657	+0.009%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09677	+0.221%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0147%	1h	0.09671	+0.154%	$179K	$223K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09675	+0.195%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09680	+0.250%	$9K	$585	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.595%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09667	+0.116%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09669	+0.133%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0057%	8h	0.09677	+0.221%	$13K	$2K	5x	as long as short
Gate XPL_USDT	+0.0084%	4h	0.09674	+0.185%	$3.0M	$3.4M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09672	+0.164%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09663	+0.076%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09683	+0.278%	$61.1M	$46.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09688	+0.329%	$252K	$468K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09675	+0.191%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09667	+0.113%	$43.9M	$102.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09663	+0.071%	$45.7M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09665	+0.092%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09631	−0.257%	$140K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09666	+0.102%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09676	+0.206%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09677	+0.216%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09671	+0.154%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09669	+0.131%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09656	long leg	$258K	$1.0M	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.144%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09678	+0.224%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.064%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.144%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09675	+0.195%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09670	+0.145%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09671	+0.158%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09680	+0.247%	$196K	$570K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09670	+0.144%	$1.8M	$987K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09698	+0.434%	$75K	$84K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3284%	1h	0.09715	+0.609%	$551K	$977K	10x	as long as short