Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Reya against MEXC−23.997%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 23.997% cheaper against MEXC than usual: you would sell low and buy high (−$2,400 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	MEXC XPL_USDT	0.09961	0.0100	pay 0.0050% / 4h	3h 31m	$13.7M	$7.5M	100x
Short	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	31m 18s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against MEXC. 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 MEXCbpFee ReyabpOrdersPrice spread, now −23.997%Rate

Funding earned: −$21
Price spread: −23.997% → 0.000%: −$2,399.66
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,426.66
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 3 min ago	0.50 bp	4.6 bp −$5	13.6 bp −$136	100.7 bp −$10.1K	234.6 bp −$117.3K
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 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
dYdX XPL-USD	0.0000%	1h	0.09963	+0.020%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07571	−23.997%	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09967	+0.060%	$50K	$17K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09964	+0.035%	$73K	—	150x	as long as short
01 Exchange XPLUSD	+0.0064%	1h	0.09962	+0.010%	$579	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09963	+0.020%	$28K	$333K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0086%	1h	0.09962	+0.010%	$186K	$286K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09955	−0.060%	$4.5M	$4.2M	10x	as long as short
Paradex XPL-USD-PERP	+0.0098%	8h	0.09957	−0.039%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09958	−0.030%	$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
Aster XPLUSDT	+0.0100%	4h	0.09963	+0.023%	$261K	$509K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09962	+0.009%	$226K	$17K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09964	+0.030%	$45.5M	$102.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09959	−0.020%	$48.3M	$51.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09960	−0.010%	$9.5M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09980	+0.191%	$144K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09963	+0.020%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09961	long leg	$13.7M	$7.5M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09958	−0.030%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09967	+0.060%	$8.7M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09962	+0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09999	+0.378%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09974	+0.133%	$270K	$720K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09980	+0.191%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09966	+0.051%	$135K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09960	−0.010%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09960	−0.010%	$212	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09963	+0.020%	$141K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09956	−0.046%	$720K	$983K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09965	+0.041%	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0203% / S +0.0037%	1h	0.09964	+0.030%	$139K	—	100x	as long as short
Phoenix XPL	+0.0318%	1h	0.09985	+0.241%	$204K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09982	+0.211%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0601%	1h	0.09969	+0.078%	$66.0M	$44.8M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.1013	+1.697%	$77K	$108K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3348%	1h	0.1001	+0.510%	$298K	$704K	10x	as long as short