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 MEXC−20.851%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 20.851% cheaper against MEXC than usual: you would sell low and buy high (−$2,085 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	MEXC XPL_USDT	0.09565	0.0100	pay 0.0050% / 4h	44m 04s	$12.3M	$7.7M	100x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	44m 04s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against MEXC. 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 MEXCbpFee ReyabpOrdersPrice spread, now −20.851%Rate

Funding earned: −$21
Price spread: −20.851% → 0.000%: −$2,085.14
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,112.14
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 4 min ago	0.52 bp	2.9 bp −$3	7.8 bp −$78	73.2 bp −$7,325	221.5 bp −$110.8K
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	−0.0344%	1h	0.09556	−0.094%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0293% / S +0.0604%	1h	0.09569	+0.038%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0168%	1h	0.09565	0.000%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0104%	4h	0.09555	−0.105%	$45.2M	$55.2M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0067%	1h	0.09572	+0.073%	$178K	$225K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09542	−0.244%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−20.851%	—	—	—
Orderly PERP_XPL_USDC	+0.0005%	4h	0.09566	+0.010%	$29K	$339K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09569	+0.037%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0073%	8h	0.09531	−0.351%	$12K	$2K	5x	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	0.09556	−0.094%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	−0.060%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09578	+0.135%	$60.0M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09568	+0.034%	$244K	$485K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09547	−0.187%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09563	−0.024%	$43.4M	$104.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09564	−0.010%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09530	−0.366%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09565	0.000%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09565	long leg	$12.3M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09556	−0.094%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09571	+0.063%	$8.5M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09562	−0.031%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.306%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09510	−0.575%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.261%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09562	−0.032%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.261%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.052%	$192	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09520	−0.470%	$139K	$229K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09561	−0.042%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09562	−0.029%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09551	−0.146%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09513	−0.544%	$1.7M	$980K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09557	−0.084%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3326%	1h	0.09591	+0.270%	$544K	$977K	10x	as long as short