Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.017%

Price spread now: Orderly against Aevo−0.018%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 Orderly

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XPL-PERP	0.09788	0.0104	pay 0.0013% / 1h	46m 07s	$38K	$5K	3x
Short	Orderly PERP_XPL_USDC	0.09786	0.0080	get 0.0040% / 4h	2h 46m	$27K	$333K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.018%Rate

Funding earned: −$5.04
Price spread: −0.018% → 0.000%: −$1.84
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$28.88
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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
Deribit XPL_USDC-PERPETUAL	−0.0363%	1h	0.09785	−0.029%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0296%	1h	0.09772	−0.161%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0103%	1h	0.09789	+0.012%	$181K	$281K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0069% / S +0.0478%	1h	0.09785	−0.023%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09802	+0.145%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.650%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09787	−0.009%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDCshort	+0.0080%	4h	0.09786	−0.018%	$27K	$333K	10x
Paradex XPL-USD-PERP	+0.0095%	8h	0.09797	+0.091%	$13K	$2K	5x	as long as short
01 Exchange XPLUSD	+0.0096%	1h	0.09777	−0.110%	$568	$582	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	0.09777	−0.110%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09791	+0.032%	$63.0M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09789	+0.014%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09801	+0.131%	$222K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09789	+0.012%	$44.3M	$104.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09788	+0.002%	$47.6M	$52.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09791	+0.033%	$9.0M	$53.1M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09781	−0.069%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09784	−0.039%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09779	−0.090%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09795	+0.074%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09786	−0.018%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.544%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	−0.693%	$264K	$769K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.488%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09785	−0.030%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.182%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	−0.080%	$208	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09740	−0.488%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.591%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09783	−0.050%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERPlong	+0.0104%	1h	0.09788	long leg	$38K	$5K	3x
BloFin XPL-USDT	+0.0340%	4h	0.09812	+0.247%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09731	−0.580%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.574%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3480%	1h	0.09827	+0.405%	$517K	$939K	10x	as long as short