Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0352%/8h= −38.5% APRnext payment −$0.44 per $10,000 · paid last 24h —

Price spread now: 01 Exchange against Reya+27.136%52s7-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 01 Exchange

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. 01 Exchange is 27.136% dearer against Reya than usual: you sell high and buy low (spread +27.136% now, against zero (this spread has no 7-day history yet)): +$2,714 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 9 months. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XPLRUSDPERP	0.07571	0	get 0.0000% / 1h	25m 01s	—	—	—
Short	01 Exchange XPLUSD	0.09625	−0.0352	pay 0.0044% / 1h	25m 01s	$642	$790	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +27.136%Rate

Funding earned: −$73.92
Price spread: +27.136% → 0.000%: $2,713.61
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $2,626.69
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—

Reya and 01 Exchange: 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	−0.1160%	1h	0.09608	+26.912%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSDshort	−0.0352%	1h	0.09625	+27.136%	$642	$790	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09597	+26.762%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09623	+27.110%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09620	+27.070%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09621	+27.088%	$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	0.09626	+27.146%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09615	+27.003%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09623	+27.113%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09633	+27.240%	$60.8M	$46.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09627	+27.158%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09624	+27.120%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09617	+27.034%	$43.5M	$97.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09613	+26.978%	$45.9M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09617	+27.030%	$7.9M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+26.344%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09626	+27.149%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09618	+27.044%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09622	+27.097%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09626	+27.149%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09617	+27.030%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09625	+27.136%	$177K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09617	+27.028%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09593	+26.707%	$254K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	+26.806%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09640	+27.330%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	+26.806%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+27.070%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09619	+27.057%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09616	+27.013%	$605K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+27.070%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09592	+26.700%	$194K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	+27.044%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+28.365%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09655	+27.532%	$547K	$933K	10x	as long as short