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: HTX against Binance−0.140%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$160as in the Price arb table

costs, in and out, $10k−$1481.483% of the position

Long on Binance Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 4 days (all we have)−0.685%−$68 · spread now −0.140%, 7d avg −0.025%

Together, before fees−0.507%−$51 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: HTX is 0.114% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09593	0.0100	pay 0.0050% / 4h	1h 38m	$43.4M	$108.7M	75x
Short	HTX XPL-USDT	0.09580	0.0100	get 0.0050% / 4h	1h 38m	$144K	$264K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.025%: −$11.45
Slippage, 4 orders: −$126.29
Fee Binance: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$159.74
Costs to cover: 1.483%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; HTX: live order book, 23 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, 4 min ago	0.52 bp	9.3 bp −$9	18.9 bp −$189	109.6 bp −$11.0K	doesn't fit
Sell HTX live order book, 23 min ago	14.47 bp	69.9 bp −$70	doesn't fit	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	−0.0609%	1h	0.09584	−0.098%	$180K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09571	−0.234%	$556	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0272%	1h	0.09577	−0.171%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0248% / S +0.0576%	1h	0.09580	−0.136%	$105K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09572	−0.223%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09598	+0.043%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.084%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09581	−0.124%	$72K	—	150x	as long as short
Lighter XPL	+0.0024%	1h	0.09587	−0.067%	$4.3M	$4.2M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0033%	4h	0.09594	+0.006%	$8.2M	$52.9M	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	+0.0053%	8h	0.09592	−0.013%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0080%	4h	0.09580	−0.140%	$2.9M	$3.7M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09578	−0.158%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09604	+0.108%	$60.4M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09583	−0.108%	$243K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09600	+0.068%	$219K	$48K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09593	long leg	$43.4M	$108.7M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09586	−0.077%	$45.5M	$56.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.557%	$139K	$7K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09590	−0.036%	$12.3M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09579	−0.150%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09597	+0.037%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09585	−0.088%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09587	−0.071%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09616	+0.233%	$260K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	+0.277%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09589	−0.050%	$127K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.348%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	−0.140%	$2K	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09580	−0.140%	$144K	$264K	20x
Extended XPL-USD	+0.0104%	1h	0.09582	−0.120%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09572	−0.220%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09608	+0.152%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09576	−0.182%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.486%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3573%	1h	0.09620	+0.276%	$546K	$1.0M	10x	as long as short