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 −0.020%

Price spread now: GRVT against Binance−0.392%59s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1491.487% of the position

Long on Binance Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.542%+$54 · spread now −0.392%, 7d avg −0.011%

Together, before fees+0.550%+ Points / potential airdropGRVT: Active · farm board+$55 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: GRVT is 0.381% cheaper against Binance than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of −0.011%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09781	0.0100	pay 0.0050% / 4h	3h 42m	$44.7M	$108.7M	75x
Short	GRVT XPL_USDT_Perp	0.09743	0.0100	get 0.0050% / 4h	3h 42m	$266K	$827K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.392%Rate

Funding earned: $0
Price spread: −0.392% → −0.011%: −$38.12
Slippage, 4 orders: −$129.68
Fee Binance: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$186.8
Costs to cover: 1.487%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; GRVT: live order book, 30 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	0.51 bp	10.6 bp −$11	23.0 bp −$230	124.6 bp −$12.5K	doesn't fit
Sell GRVT live order book, 30 min ago	5.15 bp	63.7 bp −$64	94.1 bp −$941	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
Backpack XPL_USDC_PERP	−0.0323%	1h	0.09767	−0.146%	$181K	$282K	10x	as long as short
Lighter XPL	−0.0264%	1h	0.09763	−0.187%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0192%	1h	0.09784	+0.028%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0158% / S +0.0537%	1h	0.09771	−0.101%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0057%	1h	0.09768	−0.136%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09768	−0.131%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.603%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09770	−0.114%	$76K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09769	−0.125%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0032%	8h	0.09779	−0.021%	$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
Hyperliquid XPL	+0.0100%	1h	0.09800	+0.188%	$63.2M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09775	−0.067%	$253K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09775	−0.060%	$222K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09781	long leg	$44.7M	$108.7M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09779	−0.023%	$47.4M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09776	−0.054%	$8.6M	$55.2M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09780	−0.013%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09773	−0.084%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09768	−0.136%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09784	+0.028%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09779	−0.023%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.473%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09743	−0.392%	$266K	$827K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.422%	$25K	$87K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09781	−0.003%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09792	+0.108%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.422%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.115%	$193	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09754	−0.279%	$141K	$241K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09720	−0.624%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09777	−0.044%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09770	−0.119%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09753	−0.289%	$197K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09763	−0.187%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.345%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5068%	1h	0.09816	+0.357%	$569K	$1.0M	10x	as long as short