Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h —

Price spread now: Paradex against Reya+26.299%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 Paradex

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 · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 26.299% dearer against Reya than usual: you sell high and buy low: +$2,630 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 17s	—	—	—
Short	Paradex XPL-USD-PERP	0.09562	0.0056	get 0.0056% / 8h	1h 32m	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +26.299%Rate

Funding earned: $11.77
Price spread: +26.299% → 0.000%: $2,629.93
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: $2,631.7
Costs to cover: 0.100%
Break-even: from the start

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

Reya and Paradex: 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	−0.1160%	1h	0.09543	+26.053%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09558	+26.251%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09565	+26.344%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0273%	1h	0.09561	+26.291%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09556	+26.225%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09579	+26.533%	$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	0.09565	+26.348%	$72K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0056%	8h	0.09562	+26.299%	$12K	$696	5x
Extended XPL-USD	+0.0096%	1h	0.09558	+26.247%	$602K	$1.2M	25x	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	0.09569	+26.390%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09570	+26.416%	$60.4M	$46.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09564	+26.335%	$252K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09574	+26.462%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09553	+26.190%	$43.3M	$97.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09554	+26.198%	$45.5M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09556	+26.225%	$7.9M	$47.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+26.344%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09565	+26.344%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09559	+26.264%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09554	+26.198%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09565	+26.344%	$8.8M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09558	+26.251%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09563	+26.317%	$176K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09540	+26.011%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	+26.542%	$256K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+26.674%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09569	+26.402%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	+26.013%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	+26.278%	$197	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09556	+26.225%	$132K	$213K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09556	+26.229%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09577	+26.502%	$194K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09571	+26.423%	$1.7M	$933K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+28.365%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2855%	1h	0.09592	+26.697%	$544K	$933K	10x	as long as short