Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h —

Price spread now: Orderly against Reya+26.434%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 Orderly

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 26.434% dearer against Reya than usual: you sell high and buy low, +$2,643 on $10k if it 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	38m 43s	—	—	—
Short	Orderly PERP_XPL_USDC	0.09572	−0.0005	pay 0.0002% / 4h	1h 38m	$29K	$335K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +26.434%Rate

Funding earned: −$1
Price spread: +26.434% → 0.000%: $2,643.38
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2,630.38
Costs to cover: 0.120%
Break-even: from the start

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

Reya and Orderly: 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	−0.0609%	1h	0.09584	+26.592%	$180K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09571	+26.421%	$556	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0272%	1h	0.09577	+26.500%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0248% / S +0.0576%	1h	0.09580	+26.545%	$105K	—	100x	as long as short
Orderly PERP_XPL_USDCshort	−0.0005%	4h	0.09572	+26.434%	$29K	$335K	10x
dYdX XPL-USD	0.0000%	1h	0.09598	+26.772%	$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	0.09581	+26.559%	$72K	—	150x	as long as short
Lighter XPL	+0.0024%	1h	0.09587	+26.632%	$4.3M	$4.2M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0033%	4h	0.09594	+26.724%	$8.2M	$52.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0053%	8h	0.09592	+26.700%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0080%	4h	0.09580	+26.540%	$2.9M	$3.7M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09578	+26.516%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09604	+26.854%	$60.4M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09583	+26.580%	$243K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09600	+26.802%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09593	+26.717%	$43.4M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09586	+26.619%	$45.5M	$56.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	+26.011%	$139K	$7K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09590	+26.672%	$12.3M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09579	+26.526%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09597	+26.764%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09585	+26.606%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09587	+26.627%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09616	+27.013%	$260K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	+27.068%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09589	+26.653%	$127K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	+26.275%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	+26.540%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09580	+26.540%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09582	+26.564%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09572	+26.438%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09608	+26.909%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09576	+26.487%	$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	+0.3573%	1h	0.09620	+27.066%	$546K	$1.0M	10x	as long as short