Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against ApeX Omni−21.545%7-day average — · you buy dearer than you sell

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

Long on ApeX Omni 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 21.545% cheaper against ApeX Omni than usual: you would sell low and buy high (−$2,154 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	ApeX Omni XPLUSDT	0.09650	0.0100	pay 0.0013% / 1h	16m 28s	$25K	$75K	50x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	16m 28s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against ApeX Omni. 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 ApeX OmnibpFee ReyabpOrdersPrice spread, now −21.545%Rate

Funding earned: −$21
Price spread: −21.545% → 0.000%: −$2,154.5
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,191.5
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

ApeX Omni 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	−0.1136%	1h	0.09640	−0.104%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0336%	1h	0.09656	+0.062%	$561	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09640	−0.104%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09645	−0.052%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09640	−0.104%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09654	+0.045%	$9K	$600	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.545%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09649	−0.010%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09655	+0.052%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09675	+0.264%	$1.3M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09690	+0.416%	$61.2M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09678	+0.291%	$255K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09658	+0.085%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09670	+0.211%	$43.8M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09671	+0.218%	$46.1M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09671	+0.218%	$7.9M	$48.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	−0.207%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09658	+0.083%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09668	+0.187%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09668	+0.187%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09677	+0.280%	$8.9M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09660	+0.104%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09648	−0.021%	$178K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09630	−0.209%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09632	−0.183%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDTlong	+0.0100%	1h	0.09650	long leg	$25K	$75K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09685	+0.364%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.311%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.104%	$199	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09636	−0.145%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09660	+0.109%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09644	−0.066%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09638	−0.124%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	−0.114%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.705%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2830%	1h	0.09676	+0.265%	$548K	$930K	10x	as long as short