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% APRpaid last 24h —

Price spread now: Reya against Binance−21.247%7-day average — · you buy dearer than you sell

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

Long on Binance 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 21.247% cheaper against Binance than usual: you would sell low and buy high (−$2,125 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	Binance XPLUSDT	0.09613	0.0100	pay 0.0050% / 4h	1h 55m	$43.6M	$107.7M	75x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	55m 12s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now −21.247%Rate

Funding earned: −$21
Price spread: −21.247% → 0.000%: −$2,124.68
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,161.68
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Binance: 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 Binance live order book, 3 min ago	0.52 bp	11.9 bp −$12	24.5 bp −$245	121.5 bp −$12.2K	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 35 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
Backpack XPL_USDC_PERP	−0.0628%	1h	0.09661	+0.499%	$178K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0384%	1h	0.09623	+0.104%	$559	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09618	+0.052%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0212% / S +0.0571%	1h	0.09625	+0.130%	$111K	—	100x	as long as short
Lighter XPL	−0.0088%	1h	0.09611	−0.021%	$4.4M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09618	+0.052%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09640	+0.282%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.247%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	+0.139%	$55K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0036%	4h	0.09616	+0.031%	$8.3M	$53.0M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0042%	8h	0.09632	+0.202%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09630	+0.182%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09634	+0.214%	$61.2M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09625	+0.120%	$245K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09636	+0.237%	$219K	$47K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09613	long leg	$43.6M	$107.7M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09612	−0.010%	$46.2M	$55.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	+0.281%	$140K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09629	+0.166%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09613	0.000%	$12.5M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09614	+0.010%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09624	+0.114%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09620	+0.073%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09669	+0.582%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09642	+0.302%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.177%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09635	+0.229%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.031%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.031%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09620	+0.073%	$142K	$250K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09614	+0.013%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09613	0.000%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09633	+0.208%	$195K	$629K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+1.592%	$78K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3558%	1h	0.09662	+0.515%	$548K	$1.0M	10x	as long as short