Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h —

Price spread now: Reya against 01 Exchange−22.306%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Reya is 22.306% cheaper against 01 Exchange than usual: you would sell low and buy high, −$2,231 on $10k if it 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	01 Exchange XPLUSD	0.09744	0	get 0.0000% / 1h	31m 46s	$567	$582	5x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	31m 46s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against 01 Exchange. 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 01 ExchangebpFee ReyabpOrdersPrice spread, now −22.306%Rate

Funding earned: $0
Price spread: −22.306% → 0.000%: −$2,230.57
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,243.57
Costs to cover: 0.130%
Break-even: never at this rate

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

01 Exchange and 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
Lighter XPL	−0.0128%	1h	0.09734	−0.103%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0076% / S +0.0483%	1h	0.09745	+0.010%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0005%	1h	0.09739	−0.051%	$177K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09745	+0.011%	$8K	—	5x	as long as short
01 Exchange XPLUSDlong	0.0000%	1h	0.09744	long leg	$567	$582	5x
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−22.306%	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09740	−0.041%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09745	+0.009%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09737	−0.072%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09744	+0.003%	$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	0.09741	−0.026%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09754	+0.107%	$62.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09744	−0.003%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09749	+0.050%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09746	+0.016%	$44.0M	$104.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09742	−0.021%	$47.5M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09742	−0.021%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.805%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09738	−0.062%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09745	+0.010%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09741	−0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09747	+0.031%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09740	−0.041%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09764	+0.207%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09764	+0.203%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.369%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09753	+0.096%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.246%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09740	−0.041%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	−0.010%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09740	−0.037%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09740	−0.043%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09728	−0.164%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	+0.298%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+1.026%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3495%	1h	0.09783	+0.397%	$514K	$940K	10x	as long as short