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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance−0.010%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.010%, 7d avg −0.002%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09598	0.0100	pay 0.0050% / 4h	1h 43m	$43.5M	$108.6M	75x
Short	BingX XPL-USDT	0.09597	0.0100	get 0.0050% / 4h	1h 43m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.002%: −$0.85
Slippage, 4 orders: −$27.04
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.88
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; BingX: live order book, 9 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 Binance live order book, 15 min ago	0.52 bp	11.9 bp −$12	24.5 bp −$245	121.5 bp −$12.2K	doesn't fit
Sell BingX live order book, 9 min ago	5.20 bp	11.6 bp −$12	28.1 bp −$281	85.5 bp −$8,546	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
Backpack XPL_USDC_PERP	−0.0679%	1h	0.09593	−0.052%	$180K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09576	−0.229%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0246% / S +0.0575%	1h	0.09604	+0.059%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09603	+0.052%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0004%	4h	0.09597	−0.010%	$29K	$335K	10x	as long as short
Lighter XPL	0.0000%	1h	0.09584	−0.146%	$4.3M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09590	−0.081%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.122%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09604	+0.058%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0033%	4h	0.09604	+0.063%	$8.3M	$53.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0051%	8h	0.09591	−0.071%	$12K	$2K	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09599	+0.009%	$60.4M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09592	−0.062%	$244K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09600	+0.021%	$219K	$47K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09598	long leg	$43.5M	$108.6M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09594	−0.042%	$45.5M	$56.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.604%	$139K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09599	+0.010%	$2.9M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09598	0.000%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09590	−0.083%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09605	+0.073%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09597	−0.010%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09526	−0.752%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09550	−0.500%	$258K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09580	−0.188%	$25K	$83K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09594	−0.047%	$1.2M	$2.8M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09594	−0.042%	$127K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.188%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	+0.021%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09574	−0.250%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09601	+0.031%	$632K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	+0.021%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09573	−0.260%	$194K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09561	−0.385%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09586	−0.125%	$74K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3567%	1h	0.09637	+0.404%	$546K	$1.0M	10x	as long as short