Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0232%/8h= −25.4% APRnext payment −$0.29 per $10,000 · paid last 24h —

Price spread now: 01 Exchange against Reya+27.635%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 01 Exchange

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

The price spread pays, funding is against you. 01 Exchange is 27.635% dearer against Reya than usual: you sell high and buy low (spread +27.635% now, against zero (this spread has no 7-day history yet)): +$2,763 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	25m 26s	—	—	—
Short	01 Exchange XPLUSD	0.09663	−0.0232	pay 0.0029% / 1h	25m 26s	$562	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +27.635%Rate

Funding earned: −$48.72
Price spread: +27.635% → 0.000%: $2,763.46
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $2,701.74
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—

Reya and 01 Exchange: 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 35 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	−0.0473%	1h	0.09673	+27.767%	$46K	$18K	25x	as long as short
01 Exchange XPLUSDshort	−0.0232%	1h	0.09663	+27.635%	$562	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0197% / S +0.0561%	1h	0.09679	+27.851%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0101%	1h	0.09680	+27.859%	$179K	$245K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09672	+27.748%	$8K	—	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09675	+27.793%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09680	+27.859%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0054%	4h	0.09668	+27.701%	$8.3M	$54.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0060%	8h	0.09670	+27.725%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09661	+27.608%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	+27.681%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09677	+27.819%	$61.8M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09675	+27.792%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09673	+27.769%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09667	+27.687%	$44.0M	$110.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09666	+27.674%	$46.6M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+27.797%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09670	+27.727%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09668	+27.701%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09669	+27.714%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09674	+27.780%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09674	+27.780%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09672	+27.752%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09674	+27.786%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+28.123%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09676	+27.806%	$129K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	+27.727%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+27.727%	$197	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09669	+27.714%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09671	+27.735%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09675	+27.793%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09701	+28.136%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+28.995%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4404%	1h	0.09713	+28.298%	$551K	$1.0M	10x	as long as short