Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0005%/8h= −0.6% APRnext payment −$0.01 per $10,000 · paid last 24h —

Price spread now: Reya against gTrade (Gains Network)−22.432%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Reya is 22.432% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$2,243 on $10k if it 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	gTrade (Gains Network) XPL/USD	0.09760	L +0.0005% / S −0.0003%	pay 0.0001% / 1h	42m 10s	$77K	—	150x
Short	Reya XPLRUSDPERP	0.07570	0	get 0.0000% / 1h	42m 10s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee ReyabpOrdersPrice spread, now −22.432%Rate

Funding earned: −$1.15
Price spread: −22.432% → 0.000%: −$2,243.2
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,260.35
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

gTrade (Gains Network) 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
Lighter XPL	−0.0664%	1h	0.09741	−0.191%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0570%	1h	0.09750	−0.099%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0328%	1h	0.09746	−0.140%	$567	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0129% / S +0.0518%	1h	0.09759	−0.003%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09771	+0.113%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07570	−22.432%	—	—	—
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0003%	1h	0.09760	long leg	$77K	—	150x
Paradex XPL-USD-PERP	+0.0047%	8h	0.09763	+0.030%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0059%	4h	0.09751	−0.089%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09759	−0.007%	$1.4M	$2.6M	10x	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	0.09768	+0.089%	$63.2M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09762	+0.020%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09770	+0.106%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09749	−0.108%	$44.3M	$107.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09750	−0.099%	$47.7M	$55.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09749	−0.109%	$8.9M	$54.3M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09752	−0.079%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09755	−0.048%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09751	−0.089%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09760	+0.003%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09751	−0.089%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09758	−0.017%	$180K	$280K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09803	+0.447%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09781	+0.221%	$262K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.311%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09767	+0.072%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.304%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	−0.099%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09770	+0.106%	$139K	$241K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	+0.413%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09748	−0.122%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09755	−0.048%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09796	+0.372%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09769	+0.096%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.669%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5086%	1h	0.09816	+0.577%	$566K	$1.0M	10x	as long as short