Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0808%/8h= +88.5% APRnext payment +$1.01 per $10,000 · paid last 24h —

Price spread now: Coinbase International against Reya+28.363%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 Coinbase International

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 for this trade now. Funding pays +$24 a day on $10k at the current rate, and Coinbase International is 28.363% dearer against Reya than usual: you sell high and buy low: +$2,836 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	41m 52s	—	—	—
Short	Coinbase International XPL-PERP-INTX	0.09718	0.0808	get 0.0101% / 1h	41m 52s	$66K	$92K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +28.363%Rate

Funding earned: $169.68
Price spread: +28.363% → 0.000%: $2,836.26
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $2,989.94
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Coinbase International: 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 Reya no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Reya and Coinbase International: 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	−0.1392%	1h	0.09596	+26.751%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0472%	1h	0.09588	+26.646%	$557	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09616	+27.015%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09615	+27.002%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0016%	4h	0.09612	+26.963%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09600	+26.805%	$9K	$600	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09615	+27.003%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0011%	8h	0.09595	+26.742%	$12K	$696	5x	as long as short
Bybit XPLUSDT	+0.0062%	4h	0.09605	+26.870%	$45.8M	$53.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09599	+26.797%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09627	+27.161%	$60.8M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09618	+27.036%	$254K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09606	+26.885%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09608	+26.910%	$43.5M	$97.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09605	+26.870%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09577	+26.501%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09612	+26.963%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09606	+26.883%	$12.6M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09610	+26.936%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09614	+26.989%	$9.1M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09607	+26.896%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09615	+27.002%	$180K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09607	+26.892%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09606	+26.888%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+26.936%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09617	+27.027%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	+26.672%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	+26.936%	$196	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09588	+26.646%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09602	+26.836%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	+27.002%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09622	+27.095%	$195K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09600	+26.804%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0808%	1h	0.09718	+28.363%	$66K	$92K	50x
Kraken Futures PF_XPLUSD	+0.2720%	1h	0.09645	+27.395%	$547K	$930K	10x	as long as short