Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Reya against SunX−22.195%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Reya

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Reya is 22.195% cheaper against SunX than usual: you would sell low and buy high (−$2,219 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09730	0.0100	pay 0.0050% / 4h	1h 38m	$3K	$2.0M	20x
Short	Reya XPLRUSDPERP	0.07570	0	get 0.0000% / 1h	38m 30s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against SunX. 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 SunXbpFee ReyabpOrdersPrice spread, now −22.195%Rate

Funding earned: −$21
Price spread: −22.195% → 0.000%: −$2,219.49
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,254.49
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; Reya: 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 SunX live order book, 7 min ago	36.03 bp	160.2 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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
Backpack XPL_USDC_PERP	−0.0309%	1h	0.09749	+0.195%	$178K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09741	+0.113%	$566	$708	5x	as long as short
Lighter XPL	−0.0136%	1h	0.09729	−0.010%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0101% / S +0.0500%	1h	0.09753	+0.235%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0058%	1h	0.09749	+0.195%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09739	+0.092%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07570	−22.195%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	+0.239%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0078%	4h	0.09747	+0.175%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09740	+0.098%	$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	0.09743	+0.139%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09758	+0.292%	$62.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09741	+0.112%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09743	+0.136%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09740	+0.098%	$43.8M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09741	+0.113%	$47.4M	$54.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09735	+0.051%	$8.9M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.203%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09737	+0.072%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09744	+0.144%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09745	+0.154%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09746	+0.164%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09738	+0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09747	+0.179%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	+0.004%	$261K	$789K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	+0.103%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09762	+0.325%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09730	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09740	+0.103%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	+0.134%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09737	+0.075%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09749	+0.194%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09752	+0.226%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	+0.144%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09734	+0.041%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4587%	1h	0.09786	+0.573%	$515K	$952K	10x	as long as short