Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Bitget+0.135%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1201.196% of the position

Long on Bitget Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 4 days (all we have)−0.352%−$35 · spread now +0.135%, 7d avg −0.051%

Together, before fees−0.145%−$14 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 0.187% dearer against Bitget than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09609	0.0100	pay 0.0050% / 4h	44m 52s	$9.0M	$9.9M	75x
Short	HTX XPL-USDT	0.09622	0.0100	get 0.0050% / 4h	44m 52s	$133K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → −0.051%: $18.67
Slippage, 4 orders: −$95.64
Fee Bitget: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$100.97
Costs to cover: 1.196%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; HTX: live order book, 57 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 Bitget live order book, 4 min ago	2.60 bp	12.7 bp −$13	21.1 bp −$211	doesn't fit	doesn't fit
Sell HTX live order book, 57 min ago	13.03 bp	74.0 bp −$74	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	−0.1360%	1h	0.09590	−0.198%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0464%	1h	0.09597	−0.125%	$558	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09614	+0.048%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09606	−0.031%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0014%	4h	0.09605	−0.042%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09609	−0.004%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.211%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09610	+0.006%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0018%	8h	0.09602	−0.074%	$12K	$696	5x	as long as short
Bybit XPLUSDT	+0.0069%	4h	0.09601	−0.083%	$45.8M	$53.7M	75x	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	0.09602	−0.078%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09623	+0.140%	$60.8M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09616	+0.073%	$254K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09609	+0.002%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09605	−0.042%	$43.5M	$97.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09604	−0.052%	$7.8M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09577	−0.332%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09607	−0.021%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09605	−0.042%	$12.6M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09608	−0.010%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09609	long leg	$9.0M	$9.9M	75x
BingX XPL-USDT	+0.0100%	4h	0.09603	−0.062%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09611	+0.021%	$180K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09607	−0.025%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09603	−0.063%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+0.010%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09618	+0.089%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.302%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	−0.094%	$197	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09622	+0.135%	$133K	$213K	20x
Extended XPL-USD	+0.0104%	1h	0.09600	−0.094%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	−0.096%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09622	+0.135%	$195K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09601	−0.083%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.134%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2721%	1h	0.09642	+0.346%	$547K	$930K	10x	as long as short