Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: Aster against Reya+27.990%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 27.990% dearer against Reya than usual: you sell high and buy low: +$2,799 more if the spread 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	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	32m 28s	—	—	—
Short	Aster XPLUSDT	0.09690	0.0100	get 0.0050% / 4h	3h 32m	$252K	$454K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +27.990%Rate

Funding earned: $21
Price spread: +27.990% → 0.000%: $2,798.96
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: $2,805.96
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Aster: live order book, 20 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 20 min ago	5.15 bp	18.9 bp −$19	147.9 bp −$1,479	doesn't fit	doesn't fit

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	−0.0392%	1h	0.09680	+27.859%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09685	+27.926%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0095%	1h	0.09700	+28.123%	$177K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09691	+28.006%	$9K	$585	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09699	+28.110%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09686	+27.941%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0011%	4h	0.09680	+27.859%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09683	+27.904%	$13K	$2K	5x	as long as short
Bybit XPLUSDT	+0.0063%	4h	0.09681	+27.872%	$45.8M	$54.2M	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	0.09678	+27.833%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09679	+27.849%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09698	+28.098%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09690	+27.990%	$252K	$454K	20x
Pacifica XPL	+0.0100%	1h	0.09692	+28.012%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09680	+27.859%	$44.0M	$101.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09680	+27.859%	$8.2M	$49.0M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09682	+27.886%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09681	+27.872%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09689	+27.978%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09688	+27.965%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09680	+27.859%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09694	+28.041%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+27.991%	$256K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+28.387%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09691	+28.010%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	+27.859%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+27.991%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09696	+28.070%	$142K	$192K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	+27.859%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09679	+27.849%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09680	+27.859%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+28.242%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09694	+28.044%	$1.7M	$969K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+28.414%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3099%	1h	0.09719	+28.381%	$553K	$990K	10x	as long as short