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: Extended against Reya+26.655%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Extended

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 · Extended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Extended is 26.655% dearer against Reya than usual: you sell high and buy low: +$2,666 more if the spread 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	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	54m 08s	—	—	—
Short	Extended XPL-USD	0.09588	0.0104	get 0.0013% / 1h	54m 08s	$640K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Reya. 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 ReyabpFee ExtendedbpOrdersPrice spread, now +26.655%Rate

Funding earned: $21.84
Price spread: +26.655% → 0.000%: $2,665.52
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $2,676.36
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Extended: live order book, 4 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Extended live order book, 4 min ago	3.11 bp	7.7 bp −$8	21.9 bp −$219	doesn't fit	doesn't fit

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	+26.623%	$177K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09577	+26.504%	$557	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0375%	1h	0.09591	+26.689%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0213% / S +0.0572%	1h	0.09587	+26.639%	$110K	—	100x	as long as short
Lighter XPL	−0.0088%	1h	0.09583	+26.583%	$4.3M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09590	+26.676%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09613	+26.974%	$8K	—	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09589	+26.665%	$74K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09580	+26.544%	$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	+26.808%	$12K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09583	+26.587%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09592	+26.697%	$60.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09587	+26.640%	$244K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09612	+26.969%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09582	+26.570%	$43.4M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09576	+26.491%	$45.9M	$56.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	+27.336%	$140K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09589	+26.663%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09592	+26.702%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09584	+26.596%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09581	+26.557%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09581	+26.557%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09669	+27.718%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09642	+27.364%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+27.204%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09589	+26.661%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	+26.412%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+26.676%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09600	+26.808%	$142K	$253K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09588	+26.655%	$640K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09590	+26.676%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09633	+27.244%	$195K	$629K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09522	+25.778%	$75K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3569%	1h	0.09630	+27.209%	$546K	$1.0M	10x	as long as short