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% APRpaid last 24h —

Price spread now: KuCoin against Reya+31.378%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 KuCoin

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 31.378% dearer against Reya than usual: you sell high and buy low: +$3,138 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	24m 59s	—	—	—
Short	KuCoin XPLUSDTM	0.09946	0.0100	get 0.0050% / 4h	3h 24m	$2.5M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +31.378%Rate

Funding earned: $21
Price spread: +31.378% → 0.000%: $3,137.82
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $3,140.82
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	13.63 bp	36.0 bp −$36	169.6 bp −$1,696	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 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 −0.0167% / S +0.0542%	1h	0.09951	+31.440%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0128%	1h	0.09927	+31.127%	$577	$708	5x	as long as short
Lighter XPL	0.0000%	1h	0.09934	+31.220%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09928	+31.145%	$8K	—	5x	as long as short
Reya XPLRUSDPERPlong	0.0000%	1h	0.07571	long leg	—	—	—
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09946	+31.378%	$48K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09953	+31.477%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0026%	4h	0.09943	+31.339%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0048%	8h	0.09924	+31.092%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0049%	1h	0.09957	+31.523%	$186K	$270K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09922	+31.058%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09960	+31.563%	$258K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09929	+31.152%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09941	+31.312%	$45.4M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09942	+31.325%	$48.5M	$56.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09940	+31.299%	$8.8M	$56.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09880	+30.506%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09950	+31.431%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09940	+31.299%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09946	+31.378%	$2.5M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09948	+31.405%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09939	+31.286%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09903	+30.808%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09865	+30.312%	$261K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09890	+30.638%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09939	+31.291%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09920	+31.035%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09940	+31.299%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09907	+30.863%	$143K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09942	+31.322%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09948	+31.399%	$30K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09887	+30.599%	$200K	$655K	10x	as long as short
Hyperliquid XPL	+0.0249%	1h	0.09967	+31.658%	$64.6M	$47.4M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09922	+31.061%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+31.827%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4979%	1h	0.09992	+31.979%	$578K	$1.0M	10x	as long as short