Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0578%/8h= −63.3% APRnext payment −$0.72 per $10,000 · paid last 24h —

Price spread now: GMX against Reya+27.205%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 GMX

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

The price spread pays, funding is against you. GMX is 27.205% dearer against Reya than usual: you sell high and buy low (spread +27.205% now, against zero (this spread has no 7-day history yet)): +$2,720 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	34m 36s	—	—	—
Short	GMX XPL/USD [WBTC.b-USDC]	0.09630	L −0.0251% / S +0.0578%	pay 0.0072% / 1h	34m 36s	$106K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +27.205%Rate

Funding earned: −$121.39
Price spread: +27.205% → 0.000%: $2,720.49
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $2,581.1
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Reya and GMX: 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
Backpack XPL_USDC_PERP	−0.0521%	1h	0.09627	+27.160%	$181K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09576	+26.486%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0251% / S +0.0578%	1h	0.09630	+27.205%	$106K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09628	+27.173%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09624	+27.120%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09598	+26.778%	$8K	—	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	0.09630	+27.202%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0037%	4h	0.09588	+26.645%	$8.2M	$52.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09593	+26.708%	$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
Gate XPL_USDT	+0.0060%	4h	0.09585	+26.605%	$3.0M	$3.8M	75x	as long as short
Bybit XPLUSDT	+0.0068%	4h	0.09581	+26.552%	$45.4M	$56.8M	75x	as long as short
Lighter XPL	+0.0080%	1h	0.09590	+26.671%	$4.3M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	+27.068%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09614	+26.983%	$60.4M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09630	+27.194%	$244K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09604	+26.854%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09595	+26.731%	$43.4M	$108.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09596	+26.751%	$12.3M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09580	+26.539%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09586	+26.618%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09577	+26.500%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09612	+26.957%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09596	+26.755%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+26.935%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09634	+27.247%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	+26.935%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	+27.200%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09601	+26.817%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	+27.002%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09579	+26.531%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09625	+27.134%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09617	+27.028%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09625	+27.134%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+27.332%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	+27.587%	$548K	$1.0M	10x	as long as short