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: MEXC against Reya+26.054%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 MEXC

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 +$3 a day on $10k at the current rate, and MEXC is 26.054% dearer against Reya than usual: you sell high and buy low: +$2,605 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	44m 34s	—	—	—
Short	MEXC XPL_USDT	0.09543	0.0100	get 0.0050% / 4h	44m 34s	$12.3M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +26.054%Rate

Funding earned: $21
Price spread: +26.054% → 0.000%: $2,605.39
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: $2,620.39
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.52 bp	2.6 bp −$3	20.2 bp −$202	108.5 bp −$10.9K	240.1 bp −$120.0K

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	+26.226%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0293% / S +0.0604%	1h	0.09531	+25.899%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09524	+25.803%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0104%	4h	0.09561	+26.292%	$45.2M	$55.3M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0078%	1h	0.09525	+25.816%	$177K	$225K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09542	+26.037%	$8K	—	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
Orderly PERP_XPL_USDC	+0.0004%	4h	0.09524	+25.803%	$29K	$339K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09530	+25.886%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0073%	8h	0.09531	+25.901%	$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	0.09538	+25.988%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	+26.269%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09545	+26.080%	$59.8M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09537	+25.977%	$243K	$485K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09547	+26.108%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09564	+26.325%	$43.4M	$104.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09567	+26.371%	$8.2M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09530	+25.882%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09550	+26.146%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09543	+26.054%	$12.3M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09529	+25.869%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09575	+26.477%	$8.5M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09550	+26.146%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	+25.958%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09510	+25.618%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	+26.014%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09562	+26.304%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	+25.618%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	+25.750%	$188	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09544	+26.067%	$140K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09554	+26.199%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09527	+25.840%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09551	+26.160%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09513	+25.658%	$1.7M	$980K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09557	+26.239%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3339%	1h	0.09554	+26.199%	$542K	$977K	10x	as long as short