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 BingX+1.488%54s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as 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−$1441.438% of the position

Long on BingX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)−1.339%−$134 · spread now +1.488%, 7d avg +0.006%

Together, before fees−1.353%+ Points / potential airdropGRVT: Active · farm board−$135 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 1.482% dearer against BingX than usual: you sell high and buy low, +$148 on $10k if it goes back to its 7-day average of +0.006%. The two prices were read 54 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	BingX XPL-USDT	0.09607	0.0100	pay 0.0050% / 4h	2h 54m	—	$8.0M	—
Short	GRVT XPL_USDT_Perp	0.09750	0.0100	get 0.0050% / 4h	2h 54m	$266K	$857K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +1.488%Rate

Funding earned: $0
Price spread: +1.488% → +0.006%: $148.21
Slippage, 4 orders: −$124.76
Fee BingX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $4.45
Costs to cover: 1.438%
Break-even: from the start

Slippage from BingX: live order book, 13 min ago; GRVT: live order book, 13 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 BingX live order book, 13 min ago	5.55 bp	15.7 bp −$16	29.7 bp −$297	88.8 bp −$8,878	doesn't fit
Sell GRVT live order book, 13 min ago	5.05 bp	53.5 bp −$54	237.4 bp −$2,374	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
Deribit XPL_USDC-PERPETUAL	−0.0686%	1h	0.09607	0.000%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0304%	1h	0.09595	−0.125%	$558	$708	5x	as long as short
Lighter XPL	−0.0248%	1h	0.09613	+0.062%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0182% / S +0.0552%	1h	0.09618	+0.117%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0033%	1h	0.09630	+0.239%	$181K	$237K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09624	+0.177%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.197%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0002%	1h	0.09616	+0.097%	$70K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0011%	4h	0.09611	+0.042%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0049%	4h	0.09618	+0.114%	$8.4M	$55.2M	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	+0.0049%	8h	0.09605	−0.018%	$12K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09618	+0.116%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09624	+0.176%	$62.1M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09616	+0.097%	$253K	$554K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09623	+0.171%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09604	−0.031%	$43.9M	$110.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09606	−0.010%	$46.1M	$57.5M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09610	+0.031%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09617	+0.104%	$12.8M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09613	+0.062%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09621	+0.146%	$8.5M	$11.4M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09607	long leg	—	$8.0M	—
Variational Omni XPL	+0.0100%	4h	0.09695	+0.916%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09750	+1.488%	$266K	$857K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+1.801%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09626	+0.196%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.073%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	+0.031%	$483	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09646	+0.406%	$140K	$254K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09755	+1.541%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09606	−0.010%	$647K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09597	−0.106%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09794	+1.946%	$198K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09592	−0.156%	$1.7M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09776	+1.759%	$77K	$100K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4427%	1h	0.09662	+0.568%	$547K	$1.0M	10x	as long as short