Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against Extended−21.052%7-day average — · you buy dearer than you sell

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

Long on Extended 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 airdropExtended: Active · Reya: 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 21.052% cheaper against Extended than usual: you would sell low and buy high (−$2,105 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	Extended XPL-USD	0.09589	0.0104	pay 0.0013% / 1h	53m 44s	$640K	$1.1M	25x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	53m 44s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee ReyabpOrdersPrice spread, now −21.052%Rate

Funding earned: −$21.84
Price spread: −21.052% → 0.000%: −$2,105.19
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,138.03
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 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 Extended live order book, 4 min ago	3.11 bp	8.7 bp −$9	23.8 bp −$238	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 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	−0.0717%	1h	0.09586	−0.034%	$177K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09577	−0.127%	$557	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0375%	1h	0.09591	+0.019%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0213% / S +0.0572%	1h	0.09587	−0.021%	$110K	—	100x	as long as short
Lighter XPL	−0.0088%	1h	0.09583	−0.065%	$4.3M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09590	+0.008%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09613	+0.244%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−21.052%	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09589	0.000%	$74K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09592	+0.029%	$8.3M	$52.9M	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	0.09600	+0.113%	$12K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09583	−0.062%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09600	+0.116%	$60.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09588	−0.018%	$244K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09612	+0.240%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09593	+0.039%	$43.5M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09589	−0.002%	$45.9M	$56.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	+0.530%	$140K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09590	+0.008%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09588	−0.013%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09585	−0.044%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09592	+0.029%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09593	+0.039%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09669	+0.831%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09642	+0.551%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.425%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09589	−0.003%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.200%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+0.008%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09600	+0.112%	$142K	$253K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09589	long leg	$640K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09590	+0.008%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09633	+0.457%	$195K	$629K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09522	−0.701%	$75K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3569%	1h	0.09630	+0.429%	$546K	$1.0M	10x	as long as short