Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Binance+0.053%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.053%, 7d avg +0.036%

Together, before fees−0.026%+ Points / potential airdropPacifica: Active · farm board−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09743	0.0100	pay 0.0050% / 4h	2h 32m	$44.3M	$109.9M	75x
Short	Pacifica XPL	0.09748	0.0100	get 0.0013% / 1h	32m 47s	$222K	$47K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.036%: $1.79
Slippage, 4 orders: −$53.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$70.08
Costs to cover: 0.719%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Pacifica: live order book, 35 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, 10 min ago	1.03 bp	12.3 bp −$12	26.5 bp −$265	123.3 bp −$12.3K	doesn't fit
Sell Pacifica live order book, 35 min ago	5.04 bp	23.9 bp −$24	doesn't fit	doesn't fit	doesn't fit

XPL on 35 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	−0.0264%	1h	0.09714	−0.298%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09710	−0.339%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0193% / S +0.0559%	1h	0.09721	−0.229%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0091%	1h	0.09719	−0.246%	$180K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09741	−0.016%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.294%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0003%	4h	0.09713	−0.308%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09722	−0.216%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0052%	4h	0.09740	−0.031%	$8.4M	$55.4M	50x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09742	−0.008%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09733	−0.103%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09710	−0.334%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09751	+0.079%	$63.1M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09736	−0.070%	$247K	$526K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09748	+0.053%	$222K	$47K	10x
Binance XPLUSDTlong	+0.0100%	4h	0.09743	long leg	$44.3M	$109.9M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09738	−0.051%	$46.9M	$57.9M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09672	−0.732%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09734	−0.092%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09740	−0.031%	$12.9M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09724	−0.195%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09746	+0.031%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09731	−0.123%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09688	−0.565%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09726	−0.172%	$256K	$867K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.236%	$25K	$90K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09723	−0.206%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.339%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.339%	$200	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09715	−0.287%	$144K	$257K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09726	−0.170%	$659K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.283%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09715	−0.287%	$197K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.236%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4385%	1h	0.09754	+0.109%	$553K	$1.0M	10x	as long as short