Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h —

Price spread now: Reya against Binance−18.588%45s7-day average — · you buy dearer than you sell

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

Long on Binance 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 pays, the price is against you. Reya is 18.588% cheaper against Binance than usual: you would sell low and buy high (spread −18.588% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,859 on $10k: about years of funding at the current rate (+$2 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09299	−0.0060	get 0.0030% / 4h	27m 38s	$42.8M	$89.9M	75x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	27m 38s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now −18.588%Rate

Funding earned: $12.61
Price spread: −18.588% → 0.000%: −$1,858.77
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$1,862.16
Costs to cover: 0.160%
Break-even: 1040.8 days

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	0.53 bp	10.4 bp −$10	24.2 bp −$242	102.9 bp −$10.3K	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 exchanges

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
GMX XPL/USD [WBTC.b-USDC]	L −0.0545% / S +0.0751%	1h	0.09315	+0.174%	$103K	—	100x	as long as short
01 Exchange XPLUSD	−0.0488%	1h	0.09302	+0.032%	$541	$832	5x	as long as short
Bybit XPLUSDT	−0.0399%	4h	0.09297	−0.022%	$43.2M	$50.9M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0394%	1h	0.09311	+0.129%	$47K	$19K	25x	as long as short
Lighter XPL	−0.0232%	1h	0.09293	−0.065%	$4.2M	$2.5M	10x	as long as short
Polymarket Perps XPL-USD	−0.0185%	1h	0.09309	+0.102%	$35K	$1.0M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0150%	4h	0.09307	+0.086%	$29K	$89K	10x	as long as short
Paradex XPL-USD-PERP	−0.0092%	8h	0.09296	−0.030%	$12K	$696	5x	as long as short
Binance XPLUSDTlong	−0.0060%	4h	0.09299	long leg	$42.8M	$89.9M	75x
MEXC XPL_USDT	−0.0058%	4h	0.09297	−0.022%	$12.3M	$6.6M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	−0.0001%	4h	0.09301	+0.022%	$7.2M	$42.7M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09308	+0.101%	$9K	$1K	5x	as long as short
Gate XPL_USDT	0.0000%	4h	0.09297	−0.022%	$2.7M	$2.7M	75x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−18.588%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09317	+0.192%	$70K	—	150x	as long as short
Extended XPL-USD	+0.0032%	1h	0.09295	−0.040%	$590K	$1.1M	25x	as long as short
Nado XPL-PERP	+0.0038%	1h	0.09305	+0.062%	$991K	$2.3M	10x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09306	+0.076%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09319	+0.215%	$59.6M	$39.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09306	+0.076%	$240K	$339K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09308	+0.095%	$207K	$49K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09378	+0.847%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09302	+0.032%	$2.2M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09308	+0.097%	$8.7M	$9.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09297	−0.022%	—	$7.6M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09309	+0.108%	$179K	$160K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09330	+0.332%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09330	+0.333%	$250K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09340	+0.441%	$24K	$59K	50x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09280	−0.204%	$3K	$1.3M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09310	+0.118%	$174	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09316	+0.183%	$130K	$166K	20x	as long as short
Phoenix XPL	+0.0170%	1h	0.09363	+0.688%	$190K	$435K	10x	as long as short
BloFin XPL-USDT	+0.0181%	4h	0.09315	+0.172%	$1.7M	$762K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0608%	1h	0.09455	+1.678%	$63K	$85K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1203%	1h	0.09339	+0.430%	$551K	$984K	10x	as long as short