Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.001%

Price spread now: Aevo against Bitget−0.053%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Aevo

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.053% cheaper against Bitget than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09517	0.0100	pay 0.0050% / 4h	2h 21m	$8.9M	$10.1M	75x
Short	Aevo XPL-PERP	0.09512	0.0080	get 0.0010% / 1h	21m 51s	$28K	$18K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.053%Rate

Funding earned: −$4.2
Price spread: −0.053% → 0.000%: −$5.25
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$37.45
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; Aevo: 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 Bitget live order book, 5 min ago	3.15 bp	16.4 bp −$16	34.9 bp −$349	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 exchanges

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	−0.0960%	1h	0.09501	−0.168%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0536%	1h	0.09503	−0.147%	$553	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0374% / S +0.0652%	1h	0.09516	−0.016%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0298%	4h	0.09507	−0.105%	$44.8M	$53.3M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09512	−0.053%	$47K	$18K	25x	as long as short
Extended XPL-USD	−0.0208%	1h	0.09507	−0.104%	$601K	$1.2M	25x	as long as short
Paradex XPL-USD-PERP	−0.0142%	8h	0.09501	−0.164%	$12K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0097%	4h	0.09511	−0.063%	$7.6M	$47.2M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0066%	4h	0.09507	−0.105%	$30K	$199K	10x	as long as short
Gate XPL_USDT	−0.0050%	4h	0.09508	−0.095%	$2.9M	$3.4M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09505	−0.125%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.451%	—	—	—	as long as short
MEXC XPL_USDT	+0.0002%	4h	0.09508	−0.095%	$13.5M	$6.5M	100x	as long as short
Binance XPLUSDT	+0.0004%	4h	0.09506	−0.116%	$43.5M	$96.7M	75x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09516	−0.013%	$72K	—	150x	as long as short
BloFin XPL-USDT	+0.0015%	4h	0.09498	−0.200%	$1.7M	$813K	75x	as long as short
Aevo XPL-PERPshort	+0.0080%	1h	0.09512	−0.053%	$28K	$18K	3x
Nado XPL-PERP	+0.0100%	1h	0.09513	−0.045%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09528	+0.121%	$60.3M	$42.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09518	+0.008%	$254K	$379K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09512	−0.056%	$218K	$45K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09517	0.000%	$2.4M	$1.3M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09517	long leg	$8.9M	$10.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09508	−0.095%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09518	+0.011%	$179K	$172K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09506	−0.120%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09521	+0.045%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.032%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09518	+0.011%	$125K	$1.5M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.179%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	−0.074%	$177	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09485	−0.336%	$132K	$213K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09515	−0.021%	$139K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09539	+0.231%	$193K	$474K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0648%	1h	0.09736	+2.301%	$65K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1851%	1h	0.09531	+0.145%	$542K	$984K	10x	as long as short