Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against Pacifica−23.106%7-day average — · you buy dearer than you sell

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

Long on Pacifica 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 airdropPacifica: 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 23.106% cheaper against Pacifica than usual: you would sell low and buy high (−$2,311 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	Pacifica XPL	0.09845	0.0100	pay 0.0013% / 1h	34m 22s	$224K	$46K	10x
Short	Reya XPLRUSDPERP	0.07570	0	get 0.0000% / 1h	34m 22s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Pacifica. 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 PacificabpFee ReyabpOrdersPrice spread, now −23.106%Rate

Funding earned: −$21
Price spread: −23.106% → 0.000%: −$2,310.63
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,345.63
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 39 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 Pacifica live order book, 39 min ago	15.44 bp	19.7 bp −$20	doesn't fit	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 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0162% / S +0.0539%	1h	0.09847	+0.019%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0146%	1h	0.09835	−0.105%	$182K	$272K	10x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09847	+0.017%	$573	$708	5x	as long as short
Lighter XPL	−0.0104%	1h	0.09834	−0.115%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09839	−0.060%	$8K	—	5x	as long as short
Reya XPLRUSDPERPshort	0.0000%	1h	0.07570	−23.106%	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09845	−0.003%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09847	+0.017%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09845	−0.003%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0042%	8h	0.09842	−0.033%	$13K	$2K	5x	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	0.09847	+0.017%	$254K	$533K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09845	long leg	$224K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09846	+0.007%	$45.0M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09846	+0.007%	$47.7M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09840	−0.054%	$8.7M	$55.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.813%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09843	−0.023%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09844	−0.013%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09847	+0.017%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09848	+0.027%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09846	+0.007%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09825	−0.206%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.788%	$258K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	−0.257%	$25K	$87K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09843	−0.023%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09852	+0.063%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09830	−0.155%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09840	−0.054%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09834	−0.115%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09844	−0.018%	$665K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09840	−0.054%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09823	−0.227%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0183%	1h	0.09862	+0.174%	$63.8M	$47.2M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09830	−0.155%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09845	−0.003%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5027%	1h	0.09896	+0.515%	$573K	$1.0M	10x	as long as short