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 BingX+0.041%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.041%, 7d avg +0.006%

Together, before fees−0.061%−$6 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: MEXC is 0.035% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09796	0.0100	pay 0.0050% / 4h	57m 49s	—	$7.9M	—
Short	MEXC XPL_USDT	0.09800	0.0100	get 0.0050% / 4h	57m 49s	$12.7M	$7.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → +0.006%: $3.46
Slippage, 4 orders: −$23.29
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$29.84
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; MEXC: live order book, 6 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, 5 min ago	5.64 bp	16.6 bp −$17	30.6 bp −$306	93.8 bp −$9,379	doesn't fit
Sell MEXC live order book, 6 min ago	0.51 bp	2.5 bp −$2	7.1 bp −$71	82.0 bp −$8,200	231.1 bp −$115.6K

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	−0.0344%	1h	0.09789	−0.071%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09795	−0.010%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0121% / S +0.0513%	1h	0.09810	+0.147%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09806	+0.102%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09789	−0.076%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.719%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09808	+0.118%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0066%	4h	0.09803	+0.071%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09797	+0.005%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09806	+0.102%	$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	0.09816	+0.201%	$63.6M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09810	+0.147%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09800	+0.041%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09796	0.000%	$44.3M	$107.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09799	+0.031%	$48.1M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09794	−0.020%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09800	+0.041%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09800	+0.041%	$12.7M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09798	+0.020%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09806	+0.102%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09796	long leg	—	$7.9M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09809	+0.133%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09755	−0.417%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09790	−0.061%	$261K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.367%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09815	+0.193%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.163%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.041%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09786	−0.102%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.061%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09799	+0.031%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09822	+0.263%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09777	−0.194%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09785	−0.112%	$198K	$649K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09794	−0.020%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09852	+0.573%	$567K	$1.0M	10x	as long as short