Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against BingX+0.433%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.433% dearer against BingX than usual: you sell high and buy low (spread +0.433% now, against zero (this spread has no 7-day history yet)): +$43 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09709	0.0100	pay 0.0050% / 4h	1h 53m	—	$7.9M	—
Short	dYdX XPL-USD	0.09751	0	get 0.0000% / 1h	53m 21s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now +0.433%Rate

Funding earned: −$21
Price spread: +0.433% → 0.000%: $43.28
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $2.28
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 15 min ago; dYdX: no order-book sample. Net counts fees only.

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 BingX live order book, 15 min ago	1.03 bp	11.0 bp −$11	26.5 bp −$265	86.0 bp −$8,598	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit XPL_USDC-PERPETUAL	−0.0471%	1h	0.09707	−0.021%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09725	+0.165%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0095% / S +0.0495%	1h	0.09713	+0.042%	$112K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09729	+0.206%	$4.4M	$4.1M	10x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09751	+0.433%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.024%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09716	+0.070%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0081%	4h	0.09708	−0.010%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09735	+0.264%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0093%	1h	0.09754	+0.463%	$178K	$281K	10x	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	0.09731	+0.232%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09744	+0.362%	$62.8M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09735	+0.264%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09745	+0.371%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09709	0.000%	$43.6M	$105.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09710	+0.010%	$47.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09705	−0.041%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.091%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09718	+0.093%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09717	+0.082%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09735	+0.268%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09715	+0.062%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09709	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09767	+0.599%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.525%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.834%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09738	+0.301%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	+0.010%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.010%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09771	+0.639%	$139K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09706	−0.031%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09714	+0.048%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09726	+0.175%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09726	+0.175%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.875%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4603%	1h	0.09753	+0.455%	$513K	$953K	10x	as long as short