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: HTX against BingX−0.306%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1001.005% of the position

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now −0.306%, 7d avg −0.004%

Together, before fees+0.232%+$23 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 0.301% cheaper against BingX than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09818	0.0100	pay 0.0050% / 4h	53m 23s	—	$7.9M	—
Short	HTX XPL-USDT	0.09788	0.0100	get 0.0050% / 4h	53m 23s	$139K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.306%Rate

Funding earned: $0
Price spread: −0.306% → −0.004%: −$30.11
Slippage, 4 orders: −$78.47
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$130.58
Costs to cover: 1.005%
Break-even: never at this rate

Slippage from BingX: live order book, 10 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 BingX live order book, 10 min ago	5.64 bp	16.6 bp −$17	30.6 bp −$306	93.8 bp −$9,379	doesn't fit
Sell HTX live order book, 23 min ago	26.28 bp	38.8 bp −$39	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
Lighter XPL	−0.0320%	1h	0.09799	−0.194%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0264%	1h	0.09814	−0.041%	$571	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0123% / S +0.0514%	1h	0.09816	−0.022%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09814	−0.041%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09816	−0.018%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.893%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09823	+0.048%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09809	−0.092%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09809	−0.089%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09818	+0.005%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09841	+0.235%	$63.7M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09819	+0.012%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09820	+0.020%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09820	+0.017%	$44.5M	$107.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09823	+0.051%	$48.2M	$55.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09819	+0.010%	$8.9M	$54.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09813	−0.051%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09820	+0.020%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09815	−0.031%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09832	+0.143%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09818	long leg	—	$7.9M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09816	−0.020%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09788	−0.304%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09812	−0.063%	$261K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.183%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09834	+0.159%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.285%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09810	−0.081%	$451	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09788	−0.306%	$139K	$246K	20x
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.285%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09817	−0.009%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09814	−0.037%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09824	+0.061%	$199K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09801	−0.173%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.071%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5064%	1h	0.09857	+0.402%	$567K	$1.0M	10x	as long as short