Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h —

Price spread now: Reya against BloFin−21.480%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 −$10 a day on $10k at the current rate, and Reya is 21.480% cheaper against BloFin than usual: you would sell low and buy high (−$2,148 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	BloFin XPL-USDT	0.09642	0.0340	pay 0.0170% / 4h	13m 21s	$1.7M	$986K	75x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	13m 21s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BloFin. 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 BloFinbpFee ReyabpOrdersPrice spread, now −21.480%Rate

Funding earned: −$71.4
Price spread: −21.480% → 0.000%: −$2,148.05
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,237.45
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 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 BloFin live order book, 4 min ago	4.16 bp	13.0 bp −$13	25.9 bp −$259	79.5 bp −$7,946	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
01 Exchange XPLUSD	−0.0360%	1h	0.09636	−0.062%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0319% / S +0.0619%	1h	0.09650	+0.087%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09648	+0.062%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0090%	4h	0.09643	+0.010%	$45.7M	$54.7M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0064%	1h	0.09630	−0.124%	$178K	$223K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09643	+0.008%	$9K	$585	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.480%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09651	+0.097%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09643	+0.010%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09643	+0.008%	$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
Lighter XPL	+0.0096%	1h	0.09639	−0.031%	$4.4M	$3.3M	10x	as long as short
Gate XPL_USDT	+0.0098%	4h	0.09645	+0.031%	$3.0M	$3.6M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09639	−0.029%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09658	+0.164%	$60.9M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09659	+0.176%	$251K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09649	+0.076%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09645	+0.030%	$43.8M	$103.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09645	+0.031%	$8.3M	$49.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09625	−0.176%	$140K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09645	+0.031%	$12.3M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09634	−0.083%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09653	+0.114%	$8.8M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09647	+0.052%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09622	−0.209%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09629	−0.138%	$267K	$997K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.083%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09657	+0.160%	$124K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.228%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.021%	$198	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09629	−0.135%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09643	+0.014%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09647	+0.055%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09649	+0.073%	$195K	$617K	10x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09642	long leg	$1.7M	$986K	75x
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.353%	$75K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3296%	1h	0.09679	+0.383%	$549K	$975K	10x	as long as short