Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: HTX against Aevo−0.166%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 HTX

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.166% cheaper against Aevo than usual: you would sell low and buy high, −$17 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	0.09814	0.0104	pay 0.0013% / 1h	25m 45s	$38K	$5K	3x
Short	HTX XPL-USDT	0.09798	0.0100	get 0.0050% / 4h	2h 25m	$139K	$245K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.166%Rate

Funding earned: −$0.84
Price spread: −0.166% → 0.000%: −$16.61
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$45.45
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; HTX: live order book, 60 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 HTX live order book, 60 min ago	10.11 bp	78.4 bp −$78	doesn't fit	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0078% / S +0.0485%	1h	0.09814	−0.008%	$113K	—	100x	as long as short
Lighter XPL	−0.0064%	1h	0.09801	−0.136%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09808	−0.064%	$570	$582	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09812	−0.021%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.861%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09816	+0.017%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09814	−0.004%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0019%	1h	0.09818	+0.038%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09811	−0.034%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09804	−0.102%	$13K	$2K	5x	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	0.09806	−0.079%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09828	+0.134%	$63.2M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09814	+0.001%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09818	+0.038%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09814	−0.006%	$44.3M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09811	−0.034%	$47.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09809	−0.054%	$9.1M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.757%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09807	−0.074%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09814	−0.003%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09808	−0.064%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09816	+0.017%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09813	−0.013%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09744	−0.716%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.656%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.553%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09818	+0.038%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.248%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09820	+0.058%	$204	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09798	−0.166%	$139K	$245K	20x
Extended XPL-USD	+0.0104%	1h	0.09809	−0.058%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERPlong	+0.0104%	1h	0.09814	long leg	$38K	$5K	3x
BloFin XPL-USDT	+0.0340%	4h	0.09791	−0.237%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09791	−0.237%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.180%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3468%	1h	0.09861	+0.472%	$519K	$940K	10x	as long as short