Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Aster−0.120%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.120%, 7d avg −0.086%

Together, before fees−0.088%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board−$9 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: Extended is 0.034% cheaper against Aster than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09638	0.0100	pay 0.0050% / 4h	1h 08m	$254K	$420K	20x
Short	Extended XPL-USD	0.09626	0.0104	get 0.0013% / 1h	8m 11s	$604K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.120%Rate

Funding earned: $0.84
Price spread: −0.120% → −0.086%: −$3.41
Slippage, 4 orders: −$39.87
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$55.45
Costs to cover: 0.529%
Break-even: 469.1 days

Slippage from Aster: live order book, 34 min ago; Extended: live order book, 5 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, 34 min ago	5.72 bp	19.7 bp −$20	167.4 bp −$1,674	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.52 bp	7.5 bp −$7	22.9 bp −$229	doesn't fit	doesn't fit

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	−0.1112%	1h	0.09616	−0.224%	$4.3M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09634	−0.033%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09626	−0.120%	$560	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09632	−0.058%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0006%	4h	0.09627	−0.110%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09638	+0.001%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.445%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09635	−0.028%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0066%	8h	0.09628	−0.098%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09631	−0.068%	$1.3M	$2.2M	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	0.09646	+0.090%	$60.9M	$46.1M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09638	long leg	$254K	$420K	20x
Pacifica XPL	+0.0100%	1h	0.09639	+0.020%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09627	−0.110%	$43.8M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09629	−0.089%	$46.0M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09627	−0.110%	$7.8M	$48.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09655	+0.181%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09630	−0.079%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09627	−0.110%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09636	−0.017%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09636	−0.017%	$9.1M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09629	−0.089%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09634	−0.037%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09660	+0.229%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09650	+0.129%	$263K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.232%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09639	+0.010%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.286%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	−0.079%	$201	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09645	+0.077%	$133K	$213K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09626	−0.120%	$604K	$1.2M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09630	−0.079%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09671	+0.347%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09638	+0.004%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.834%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2835%	1h	0.09659	+0.224%	$548K	$932K	10x	as long as short