Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Reya against KuCoin−22.083%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 22.083% cheaper against KuCoin than usual: you would sell low and buy high (−$2,208 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	KuCoin XPLUSDTM	0.09716	0.0100	pay 0.0050% / 4h	36m 28s	$2.4M	$1.5M	50x
Short	Reya XPLRUSDPERP	0.07570	0	get 0.0000% / 1h	36m 28s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now −22.083%Rate

Funding earned: −$21
Price spread: −22.083% → 0.000%: −$2,208.34
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,247.34
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	8.71 bp	29.9 bp −$30	154.6 bp −$1,546	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
Lighter XPL	−0.0680%	1h	0.09702	−0.144%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0392%	1h	0.09702	−0.144%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0368%	1h	0.09705	−0.113%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0132% / S +0.0519%	1h	0.09710	−0.059%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09709	−0.067%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07570	−22.083%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09709	−0.069%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0022%	8h	0.09709	−0.067%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0055%	4h	0.09703	−0.134%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0090%	4h	0.09709	−0.072%	$3.0M	$4.0M	75x	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	0.09728	+0.122%	$62.8M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09719	+0.028%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09721	+0.048%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09711	−0.051%	$44.1M	$108.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09711	−0.051%	$47.4M	$55.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09712	−0.041%	$8.8M	$54.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	+0.248%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09710	−0.062%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09716	long leg	$2.4M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09718	+0.021%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09713	−0.031%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09712	−0.041%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09752	+0.373%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09755	+0.399%	$261K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.350%	$25K	$88K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09712	−0.046%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09720	+0.045%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.371%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.062%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09735	+0.196%	$138K	$234K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09710	−0.058%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09705	−0.113%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09751	+0.360%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09709	−0.072%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.122%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5107%	1h	0.09775	+0.603%	$564K	$1.0M	10x	as long as short