Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Binance−0.008%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.008%, 7d avg +0.004%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09771	0.0100	pay 0.0050% / 4h	4m 50s	$44.6M	$108.8M	75x
Short	MEXC XPL_USDT	0.09770	0.0100	get 0.0050% / 4h	4m 50s	$12.8M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → +0.004%: −$1.23
Slippage, 4 orders: −$15.03
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.26
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; MEXC: live order book, 4 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, 8 min ago	0.52 bp	9.5 bp −$9	23.8 bp −$238	128.6 bp −$12.9K	doesn't fit
Sell MEXC live order book, 4 min ago	0.51 bp	2.5 bp −$3	8.7 bp −$87	95.1 bp −$9,510	243.7 bp −$121.9K

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	−0.0536%	1h	0.09757	−0.141%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09767	−0.039%	$568	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0159%	1h	0.09773	+0.023%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0147% / S +0.0530%	1h	0.09778	+0.074%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09771	−0.003%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.520%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09778	+0.077%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0011%	8h	0.09770	−0.012%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0037%	4h	0.09770	−0.008%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0040%	4h	0.09771	+0.002%	$3.1M	$4.1M	75x	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	0.09766	−0.049%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09783	+0.129%	$63.1M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09770	−0.013%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09772	+0.016%	$222K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09771	long leg	$44.6M	$108.8M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09771	+0.002%	$47.4M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09772	+0.012%	$8.7M	$55.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09760	−0.110%	$142K	$9K	10x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09770	−0.008%	$12.8M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09771	+0.002%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09779	+0.084%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09771	+0.002%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09773	+0.023%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09760	−0.109%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.213%	$258K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	−0.008%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09786	+0.152%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.213%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.008%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09768	−0.029%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09772	+0.008%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09775	+0.039%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09782	+0.115%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09766	−0.049%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09735	−0.366%	$72K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5085%	1h	0.09818	+0.482%	$567K	$1.0M	10x	as long as short