Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h —

Price spread now: Reya against Bybit−21.716%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 21.716% cheaper against Bybit than usual: you would sell low and buy high (spread −21.716% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2,172 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09671	−0.0050	get 0.0025% / 4h	3h 46m	$45.8M	$54.3M	75x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	46m 22s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bybit. 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 BybitbpFee ReyabpOrdersPrice spread, now −21.716%Rate

Funding earned: $10.47
Price spread: −21.716% → 0.000%: −$2,171.55
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,178.08
Costs to cover: 0.170%
Break-even: 1463.1 days

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.52 bp	13.3 bp −$13	35.7 bp −$357	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
01 Exchange XPLUSD	−0.0448%	1h	0.09658	−0.134%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0370%	1h	0.09676	+0.052%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09682	+0.118%	$107K	—	100x	as long as short
Gate XPL_USDT	−0.0118%	4h	0.09668	−0.031%	$3.0M	$3.4M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0090%	1h	0.09679	+0.083%	$179K	$198K	10x	as long as short
Bybit XPLUSDTlong	−0.0050%	4h	0.09671	long leg	$45.8M	$54.3M	75x
dYdX XPL-USD	0.0000%	1h	0.09683	+0.127%	$9K	$585	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.716%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09677	+0.067%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0016%	4h	0.09668	−0.031%	$29K	$339K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0052%	8h	0.09665	−0.062%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09668	−0.031%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09670	−0.005%	$1.2M	$2.5M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09687	+0.162%	$61.1M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09678	+0.072%	$252K	$470K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09681	+0.107%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09669	−0.021%	$43.8M	$102.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09670	−0.010%	$8.3M	$49.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	−0.011%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09669	−0.021%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09672	+0.010%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09680	+0.093%	$8.8M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09669	−0.021%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09689	+0.184%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09672	+0.008%	$255K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.093%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09682	+0.112%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.114%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.010%	$205	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09682	+0.114%	$142K	$201K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09664	−0.070%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09674	+0.028%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09689	+0.186%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09673	+0.021%	$1.7M	$976K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.651%	$75K	$82K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3101%	1h	0.09712	+0.426%	$551K	$981K	10x	as long as short