Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0615%/8h= −67.4% APRnext payment −$0.77 per $10,000 · paid last 24h —

Price spread now: GMX against Reya+26.161%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 GMX

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

The price spread pays, funding is against you. GMX is 26.161% dearer against Reya than usual: you sell high and buy low (spread +26.161% now, against zero (this spread has no 7-day history yet)): +$2,616 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	36m 54s	—	—	—
Short	GMX XPL/USD [WBTC.b-USDC]	0.09551	L −0.0313% / S +0.0615%	pay 0.0077% / 1h	36m 54s	$105K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +26.161%Rate

Funding earned: −$129.21
Price spread: +26.161% → 0.000%: $2,616.14
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $2,468.93
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; GMX: 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 Reya no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Reya and GMX: 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	−0.1448%	1h	0.09528	+25.854%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0496%	1h	0.09528	+25.854%	$554	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0378%	1h	0.09544	+26.065%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0313% / S +0.0615%	1h	0.09551	+26.161%	$105K	—	100x
Orderly PERP_XPL_USDC	−0.0019%	4h	0.09542	+26.039%	$30K	$246K	10x	as long as short
Paradex XPL-USD-PERP	−0.0001%	8h	0.09543	+26.052%	$12K	$696	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09547	+26.106%	$9K	$600	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	0.09552	+26.167%	$72K	—	150x	as long as short
Bybit XPLUSDT	+0.0041%	4h	0.09537	+25.972%	$45.5M	$53.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09538	+25.986%	$7.7M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09548	+26.111%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09556	+26.222%	$60.4M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09552	+26.166%	$252K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09551	+26.151%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09541	+26.022%	$43.2M	$97.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09550	+26.144%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09544	+26.065%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09544	+26.065%	$12.5M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09555	+26.210%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09554	+26.197%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09540	+26.012%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09552	+26.171%	$179K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09576	+26.483%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09570	+26.408%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+26.673%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09551	+26.163%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	+25.748%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09540	+26.012%	$194	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09553	+26.184%	$132K	$212K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09541	+26.031%	$598K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09532	+25.912%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09564	+26.329%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09543	+26.052%	$1.7M	$923K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09567	+26.369%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2735%	1h	0.09592	+26.695%	$544K	$930K	10x	as long as short