Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Extended against Aevo−0.032%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.032% cheaper against Aevo than usual: you would sell low and buy high, −$3 on $10k if it 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	Aevo XPL-PERP	0.09729	0.0104	pay 0.0013% / 1h	49m 58s	$38K	$5K	3x
Short	Extended XPL-USD	0.09726	0.0104	get 0.0013% / 1h	49m 58s	$653K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Aevo. 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 AevobpFee ExtendedbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → 0.000%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$24.17
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Extended: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell Extended live order book, 3 min ago	1.54 bp	6.0 bp −$6	22.0 bp −$220	doesn't fit	doesn't fit

Aevo: 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	−0.0280%	1h	0.09714	−0.155%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0264%	1h	0.09728	−0.011%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0219%	1h	0.09731	+0.020%	$180K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0067% / S +0.0477%	1h	0.09727	−0.017%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09730	+0.009%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.184%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09731	+0.021%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09725	−0.042%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09739	+0.097%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09731	+0.020%	$1.4M	$2.6M	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	0.09731	+0.017%	$62.8M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09730	+0.014%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09739	+0.100%	$221K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09728	−0.011%	$44.3M	$103.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09724	−0.052%	$47.0M	$52.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09726	−0.032%	$9.0M	$52.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09723	−0.063%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09729	−0.001%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09720	−0.094%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09723	−0.063%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09728	−0.011%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	+0.056%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.316%	$265K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.094%	$25K	$84K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09736	+0.071%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.196%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	−0.094%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09726	−0.032%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	+0.009%	$140K	$11K	10x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09726	−0.032%	$653K	$1.1M	25x
Aevo XPL-PERPlong	+0.0104%	1h	0.09729	long leg	$38K	$5K	3x
01 Exchange XPLUSD	+0.0272%	1h	0.09727	−0.022%	$566	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09737	+0.081%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.133%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+2.425%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3478%	1h	0.09833	+1.070%	$500K	$912K	10x	as long as short