Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against SoDEX−20.892%7-day average — · you buy dearer than you sell

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

Long on SoDEX 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 20.892% cheaper against SoDEX than usual: you would sell low and buy high (−$2,089 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	SoDEX XPL-USD	0.09570	0.0100	pay 0.0013% / 1h	1m 09s	$2K	$11K	10x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	1m 09s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against SoDEX. 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 SoDEXbpFee ReyabpOrdersPrice spread, now −20.892%Rate

Funding earned: −$21
Price spread: −20.892% → 0.000%: −$2,089.19
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,124.19
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; 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 SoDEX no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

SoDEX and 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	−0.0400%	1h	0.09561	−0.094%	$556	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0299%	1h	0.09575	+0.052%	$177K	$225K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0282% / S +0.0596%	1h	0.09572	+0.018%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0139%	4h	0.09568	−0.021%	$45.3M	$56.2M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0063%	1h	0.09572	+0.021%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09578	+0.080%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−20.892%	—	—	—
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09566	−0.042%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09573	+0.027%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09571	+0.006%	$12K	$2K	5x	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	+0.0071%	4h	0.09571	+0.010%	$8.2M	$51.3M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09562	−0.084%	$4.3M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09569	−0.005%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09584	+0.145%	$60.1M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09576	+0.062%	$243K	$490K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09574	+0.038%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09572	+0.021%	$43.3M	$106.8M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09568	−0.021%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09570	0.000%	$12.4M	$8.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09560	−0.104%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09576	+0.063%	$8.5M	$10.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09571	+0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09563	−0.078%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09574	+0.043%	$262K	$941K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	0.000%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09578	+0.086%	$127K	$2.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.209%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USDlong	+0.0100%	1h	0.09570	long leg	$2K	$11K	10x
HTX XPL-USDT	+0.0100%	4h	0.09570	0.000%	$144K	$251K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09575	+0.052%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09569	−0.012%	$650K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09570	0.000%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09590	+0.209%	$194K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09573	+0.031%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09606	+0.376%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3580%	1h	0.09601	+0.324%	$544K	$1.0M	10x	as long as short