Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Polymarket Perps against Reya+31.150%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 Polymarket Perps

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 Polymarket Perps is 31.150% dearer against Reya than usual: you sell high and buy low: +$3,115 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	0.07570	0	get 0.0000% / 1h	12m 34s	—	—	—
Short	Polymarket Perps XPL-USD	0.09929	0.0100	get 0.0013% / 1h	12m 34s	$133K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +31.150%Rate

Funding earned: $21
Price spread: +31.150% → 0.000%: $3,115
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $3,122
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Polymarket Perps: live order book, 1 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 Polymarket Perps live order book, 1 min ago	1.86 bp	9.4 bp −$9	10.4 bp −$104	doesn't fit	doesn't fit

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
Deribit XPL_USDC-PERPETUAL	−0.0254%	1h	0.09924	+31.088%	$48K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09903	+30.811%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0172% / S +0.0546%	1h	0.09929	+31.161%	$114K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09904	+30.824%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09915	+30.974%	$8K	—	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07570	long leg	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09929	+31.147%	$79K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0020%	4h	0.09921	+31.048%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0044%	8h	0.09915	+30.975%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0088%	4h	0.09908	+30.877%	$8.8M	$56.2M	50x	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	0.09920	+31.028%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09918	+31.004%	$256K	$537K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09922	+31.058%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09913	+30.942%	$45.4M	$109.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09913	+30.943%	$48.2M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	+30.375%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09921	+31.048%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09912	+30.929%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09910	+30.903%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09917	+30.995%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09910	+30.903%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09914	+30.956%	$185K	$254K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09912	+30.929%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09905	+30.831%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09940	+31.299%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09929	+31.150%	$133K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09910	+30.903%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09910	+30.903%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09929	+31.154%	$144K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09910	+30.907%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09926	+31.120%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+31.101%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0190%	1h	0.09931	+31.186%	$64.5M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09925	+31.101%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+31.828%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4992%	1h	0.09965	+31.631%	$576K	$1.0M	10x	as long as short