Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4503%/8h= +493.0% APRpaid last 24h +0.288%

Price spread now: Kraken Futures against Aster+0.395%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1401.399% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 3 days (all we have)−0.707%−$71 · spread now +0.395%, 7d avg +0.019%

Together, before fees−0.712%+ Points / potential airdropAster: Stage 5 · farm board−$71 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$135 a day on $10k at the current rate, and Kraken Futures is 0.376% dearer against Aster than usual: you sell high and buy low: +$38 more if the spread goes back to its 7-day average of +0.019%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09715	0.0100	pay 0.0050% / 4h	1h 52m	$251K	$527K	20x
Short	Kraken Futures PF_XPLUSD	0.09753	0.4603	get 0.0575% / 1h	52m 40s	$513K	$953K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.395%Rate

Funding earned: $945.57
Price spread: +0.395% → +0.019%: $37.59
Slippage, 4 orders: −$121.88
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $843.28
Costs to cover: 1.399%
Break-even: 0.8 days

Slippage from Aster: live order book, 30 min ago; Kraken Futures: live order book, 31 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, 30 min ago	7.13 bp	22.8 bp −$23	163.5 bp −$1,635	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 31 min ago	28.43 bp	47.6 bp −$48	475.3 bp −$4,753	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
Deribit XPL_USDC-PERPETUAL	−0.0471%	1h	0.09707	−0.080%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09725	+0.105%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0095% / S +0.0495%	1h	0.09713	−0.017%	$112K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09705	−0.101%	$4.4M	$4.1M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0038%	1h	0.09706	−0.090%	$177K	$281K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09719	+0.039%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.071%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09716	+0.010%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0081%	4h	0.09708	−0.070%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09735	+0.204%	$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	0.09731	+0.172%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09727	+0.122%	$62.6M	$47.4M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09715	long leg	$251K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09720	+0.054%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09718	+0.033%	$43.7M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09717	+0.023%	$47.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09715	+0.002%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.150%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09704	−0.111%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09705	−0.101%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09707	−0.080%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09716	+0.013%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09710	−0.049%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09767	+0.539%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.465%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.774%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09738	+0.241%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.049%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.049%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09771	+0.579%	$139K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09702	−0.127%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09714	−0.011%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09726	+0.115%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09726	+0.115%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.815%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.4603%	1h	0.09753	+0.395%	$513K	$953K	10x