Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Aster−1.139%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on Aster Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+1.208%+$121 · spread now −1.139%, 7d avg +0.002%

Together, before fees+1.210%+ Points / potential airdropAster: Stage 5 · farm board+$121 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 1.140% cheaper against Aster than usual: you would sell low and buy high, −$114 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09660	0.0100	pay 0.0050% / 4h	31m 29s	$243K	$460K	20x
Short	Bulk XPL-USD	0.09550	0.0100	get 0.0013% / 1h	31m 29s	$139K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Aster. 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 AsterbpFee BulkbpOrdersPrice spread, now −1.139%Rate

Funding earned: $0
Price spread: −1.139% → +0.002%: −$114.03
Slippage, 4 orders: −$41.27
Fee Aster: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$170.3
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from Aster: live order book, 26 min ago; Bulk: live order book, 27 min ago.

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 Aster live order book, 26 min ago	4.70 bp	21.1 bp −$21	147.5 bp −$1,475	doesn't fit	doesn't fit
Sell Bulk live order book, 27 min ago	5.22 bp	8.7 bp −$9	12.8 bp −$128	33.3 bp −$3,327	110.4 bp −$55.2K

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
01 Exchange XPLUSD	−0.0400%	1h	0.09648	−0.124%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09661	+0.008%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09630	−0.311%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0105%	4h	0.09661	+0.010%	$45.7M	$54.8M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09659	−0.014%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.628%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09664	+0.037%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09663	+0.031%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0078%	8h	0.09662	+0.024%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09646	−0.145%	$4.4M	$3.3M	10x	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	0.09662	+0.018%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09676	+0.161%	$61.0M	$46.9M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09660	long leg	$243K	$460K	20x
Pacifica XPL	+0.0100%	1h	0.09660	0.000%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09664	+0.041%	$43.9M	$103.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09662	+0.021%	$8.3M	$49.7M	50x	as long as short
Bulk XPL-USDshort	+0.0100%	1h	0.09550	−1.139%	$139K	$5K	10x
Gate XPL_USDT	+0.0100%	4h	0.09662	+0.021%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09657	−0.031%	$12.4M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09643	−0.176%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09667	+0.072%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09660	0.000%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09640	−0.207%	$179K	$221K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09520	−1.451%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09551	−1.130%	$259K	$975K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.311%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09669	+0.093%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.414%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.207%	$194	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09627	−0.342%	$141K	$208K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09652	−0.078%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09635	−0.259%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09585	−0.776%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09619	−0.424%	$1.7M	$983K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09571	−0.921%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3299%	1h	0.09668	+0.087%	$548K	$975K	10x	as long as short