Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: SoDEX against Reya+28.923%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 SoDEX

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 SoDEX is 28.923% dearer against Reya than usual: you sell high and buy low: +$2,892 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	25m 09s	—	—	—
Short	SoDEX XPL-USD	0.09760	0.0100	get 0.0013% / 1h	25m 09s	$449	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +28.923%Rate

Funding earned: $21
Price spread: +28.923% → 0.000%: $2,892.29
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $2,899.29
Costs to cover: 0.140%
Break-even: from the start

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

Reya and SoDEX: 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	−0.0337%	1h	0.09768	+29.029%	$178K	$282K	10x	as long as short
Lighter XPL	−0.0216%	1h	0.09747	+28.751%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09761	+28.936%	$568	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0160%	1h	0.09761	+28.936%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0108% / S +0.0504%	1h	0.09764	+28.970%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09763	+28.964%	$8K	—	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07570	long leg	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09763	+28.957%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0072%	4h	0.09756	+28.870%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09748	+28.765%	$13K	$2K	5x	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	0.09764	+28.982%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09774	+29.109%	$63.2M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09766	+29.001%	$252K	$526K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09766	+29.003%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09756	+28.864%	$44.0M	$106.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09761	+28.936%	$48.2M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09753	+28.830%	$8.9M	$54.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	+27.974%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09753	+28.830%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09756	+28.870%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09765	+28.989%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09761	+28.936%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09754	+28.844%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09689	+27.989%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+28.395%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+28.527%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09767	+29.022%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	+28.659%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USDshort	+0.0100%	1h	0.09760	+28.923%	$449	$10K	10x
HTX XPL-USDT	+0.0100%	4h	0.09763	+28.963%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09757	+28.879%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09760	+28.923%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09764	+28.976%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09703	+28.170%	$196K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+28.923%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4574%	1h	0.09814	+29.636%	$563K	$995K	10x	as long as short