Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Aevo−0.217%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 KuCoin

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: KuCoin is 0.217% cheaper against Aevo than usual: you would sell low and buy high, −$22 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	0.09675	0.0104	pay 0.0013% / 1h	25m 40s	$29K	$18K	3x
Short	KuCoin XPLUSDTM	0.09654	0.0100	get 0.0050% / 4h	2h 25m	$2.3M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.217%Rate

Funding earned: −$0.84
Price spread: −0.217% → 0.000%: −$21.71
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$50.55
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	11.83 bp	27.8 bp −$28	146.2 bp −$1,462	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 35 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
Deribit XPL_USDC-PERPETUAL	−0.0473%	1h	0.09673	−0.021%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0232%	1h	0.09663	−0.124%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0197% / S +0.0561%	1h	0.09679	+0.045%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0101%	1h	0.09680	+0.052%	$179K	$245K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09672	−0.035%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.749%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09675	0.000%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09680	+0.052%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0053%	4h	0.09675	0.000%	$8.3M	$54.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0060%	8h	0.09670	−0.053%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09661	−0.145%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09674	−0.013%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09679	+0.043%	$61.9M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09683	+0.082%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09673	−0.019%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09668	−0.072%	$44.0M	$110.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09668	−0.072%	$46.6M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.003%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09670	−0.052%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09673	−0.021%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09654	−0.217%	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09676	+0.010%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09674	−0.010%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09672	−0.032%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	+0.042%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.258%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09685	+0.100%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.052%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.052%	$197	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09669	−0.062%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09671	−0.045%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERPlong	+0.0104%	1h	0.09675	long leg	$29K	$18K	3x
Phoenix XPL	+0.0328%	1h	0.09701	+0.269%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.941%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4404%	1h	0.09713	+0.395%	$551K	$1.0M	10x	as long as short