XPL

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+29.668%

7d average—if it closes, per $10,000$2967funding while held, a day+$7.34

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XPLRUSDPERP	0.07570	0	get 0.0000% / 1h	55m 50s	—	—	—
Short	Phoenix XPL	0.09816	0.0245	get 0.0031% / 1h	55m 50s	$200K	$618K	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee ReyabpFee PhoenixbpOrdersClose when spread is

Spread captured: $2,966.81
Funding while held: $7.34
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $2,961.15
Spread needed to break even: 0.130%

Slippage unknown: Reya: no order-book sample; Phoenix: live order book, 54 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0245%
Per $10,000 a day: +$7.34
Average in range /8h: —

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 Phoenix live order book, 54 min ago	3.93 bp	14.6 bp −$15	48.4 bp −$484	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 price on every exchange

against the cheapest. Click to use as the short leg.

Reya0.07570cheapest

Variational Omni0.09788+29.292%

Phoenix0.09816+29.668%

HTX0.09816+29.668%

ApeX Omni0.09820+29.721%

BloFin0.09828+29.827%

Paradex0.09917+31.006%

dYdX0.09918+31.021%

Pacifica0.09926+31.120%

01 Exchange0.09928+31.148%

SunX0.09930+31.174%

Lighter0.09937+31.267%

SoDEX0.09940+31.306%

Binance0.09944+31.359%

Nado0.09948+31.409%

Bybit0.09948+31.412%

Orderly0.09948+31.412%

Gate0.09949+31.425%

Polymarket Perps0.09950+31.437%

MEXC0.09950+31.438%

Aevo0.09950+31.438%

GMX0.09951+31.446%

BingX0.09951+31.451%

Bulk0.09955+31.505%

OKX0.09956+31.518%

Deribit0.09956+31.518%

Extended0.09956+31.523%

Bitget0.09957+31.531%

Backpack0.09958+31.544%

Aster0.09958+31.548%

KuCoin0.09959+31.557%

gTrade (Gains Network)0.09960+31.566%

Hyperliquid0.09965+31.642%

Kraken Futures0.09991+31.985%

Coinbase International0.1015+34.041%

XPL on 35 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Reya XPLRUSDPERPlong	0.000%	0.0000%	1h	—	—	—
Variational Omni XPL	+29.292%	+0.0100%	4h	$1.7M	$1.8M	—	as long as short
Phoenix XPLshort	+29.668%	+0.0245%	1h	$200K	$618K	10x
HTX XPL-USDT	+29.668%	+0.0100%	4h	$142K	$253K	20x	as long as short
ApeX Omni XPLUSDT	+29.721%	+0.0100%	1h	$29K	$88K	50x	as long as short
BloFin XPL-USDT	+29.827%	+0.0340%	4h	$1.9M	$1.1M	75x	as long as short
Paradex XPL-USD-PERP	+31.006%	+0.0092%	8h	$13K	$1K	5x	as long as short
dYdX XPL-USD	+31.021%	0.0000%	1h	$8K	—	5x	as long as short
Pacifica XPL	+31.120%	+0.0100%	1h	$224K	$15K	10x	as long as short
01 Exchange XPLUSD	+31.148%	−0.0360%	1h	$577	$582	5x	as long as short

Show all 35 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
SunX XPL-USDT	+31.174%	+0.0100%	4h	$3K	$1.9M	20x	as long as short
Lighter XPL	+31.267%	−0.0584%	1h	$4.5M	$4.2M	10x	as long as short
SoDEX XPL-USD	+31.306%	+0.0100%	1h	$207	$9K	10x	as long as short
Binance XPLUSDT	+31.359%	+0.0100%	4h	$45.5M	$97.2M	75x	as long as short
Nado XPL-PERP	+31.409%	+0.0100%	1h	$1.4M	$2.5M	10x	as long as short
Bybit XPLUSDT	+31.412%	+0.0100%	4h	$48.2M	$48.8M	75x	as long as short
Orderly PERP_XPL_USDC	+31.412%	+0.0022%	4h	$28K	$331K	10x	as long as short
Gate XPL_USDT	+31.425%	−0.0124%	4h	$3.1M	$3.9M	75x	as long as short
Polymarket Perps XPL-USD	+31.437%	+0.0100%	1h	$137K	$3.5M	10x	as long as short
MEXC XPL_USDT	+31.438%	+0.0100%	4h	$14.0M	$7.5M	100x	as long as short
Aevo XPL-PERP	+31.438%	+0.0104%	1h	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	+31.446%	L −0.0040% / S +0.0454%	1h	$134K	—	100x	as long as short
BingX XPL-USDT	+31.451%	+0.0100%	4h	—	$8.0M	—	as long as short
Bulk XPL-USD	+31.505%	+0.0100%	1h	$140K	$6K	10x	as long as short
OKX XPL-USDT-SWAP	+31.518%	+0.0100%	4h	$9.3M	$53.6M	50x	as long as short
Deribit XPL_USDC-PERPETUAL	+31.518%	+0.0051%	1h	$49K	$17K	25x	as long as short
Extended XPL-USD	+31.523%	+0.0104%	1h	$643K	$825K	25x	as long as short
Bitget XPLUSDT	+31.531%	+0.0100%	4h	$8.7M	$11.2M	75x	as long as short
Backpack XPL_USDC_PERP	+31.544%	−0.0068%	1h	$185K	$291K	10x	as long as short
Aster XPLUSDT	+31.548%	+0.0100%	4h	$268K	$449K	20x	as long as short
KuCoin XPLUSDTM	+31.557%	+0.0100%	4h	$2.5M	$1.4M	50x	as long as short
gTrade (Gains Network) XPL/USD	+31.566%	L +0.0005% / S −0.0004%	1h	$55K	—	150x	as long as short
Hyperliquid XPL	+31.642%	+0.0100%	1h	$64.7M	$39.0M	10x	as long as short
Kraken Futures PF_XPLUSD	+31.985%	+0.1434%	1h	$256K	$589K	10x	as long as short
Coinbase International XPL-PERP-INTX	+34.041%	+0.0840%	1h	$76K	$133K	50x	as long as short