Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: HTX against Reya+26.380%7-day average — · you sell dearer than you buy

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

Long on Reya Short on HTX

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 26.380% dearer against Reya than usual: you sell high and buy low: +$2,638 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	9m 23s	—	—	—
Short	HTX XPL-USDT	0.09568	0.0100	get 0.0050% / 4h	9m 23s	$132K	$212K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Reya. 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 ReyabpFee HTXbpOrdersPrice spread, now +26.380%Rate

Funding earned: $21
Price spread: +26.380% → 0.000%: $2,637.98
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: $2,640.98
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; HTX: live order book, 27 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell HTX live order book, 27 min ago	18.90 bp	43.1 bp −$43	doesn't fit	doesn't fit	doesn't fit

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	−0.1392%	1h	0.09550	+26.142%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0456%	1h	0.09558	+26.248%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09568	+26.381%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0035%	4h	0.09560	+26.274%	$45.5M	$53.8M	75x	as long as short
Paradex XPL-USD-PERP	−0.0031%	8h	0.09564	+26.324%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09561	+26.287%	$30K	$277K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09569	+26.388%	$9K	$600	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09564	+26.327%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09568	+26.381%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0043%	4h	0.09558	+26.248%	$7.7M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09557	+26.234%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09584	+26.591%	$60.5M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09576	+26.480%	$253K	$406K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09569	+26.389%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09562	+26.300%	$43.3M	$97.6M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09566	+26.353%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09566	+26.353%	$12.5M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09555	+26.208%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09571	+26.419%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09561	+26.287%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09573	+26.446%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09561	+26.291%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09562	+26.297%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+26.406%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09576	+26.489%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	+26.010%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	+26.274%	$196	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09568	+26.380%	$132K	$212K	20x
Bulk XPL-USD	+0.0100%	1h	0.09555	+26.208%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09557	+26.237%	$595K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09561	+26.286%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09583	+26.578%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09564	+26.327%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09570	+26.406%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2735%	1h	0.09592	+26.692%	$541K	$939K	10x	as long as short