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: KuCoin against Bitget−0.144%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1031.031% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days+0.134%+$13 · spread now −0.144%, 7d avg −0.010%

Together, before fees+0.223%+$22 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: KuCoin is 0.134% cheaper against Bitget than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09754	0.0100	pay 0.0050% / 4h	1h 42m	$8.6M	$11.1M	75x
Short	KuCoin XPLUSDTM	0.09740	0.0100	get 0.0050% / 4h	1h 42m	$2.4M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.144%Rate

Funding earned: $0
Price spread: −0.144% → −0.010%: −$13.4
Slippage, 4 orders: −$79.1
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$116.5
Costs to cover: 1.031%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; KuCoin: live order book, 5 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, 1 min ago	2.57 bp	18.7 bp −$19	58.0 bp −$580	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	4.64 bp	35.4 bp −$35	155.5 bp −$1,555	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
Backpack XPL_USDC_PERP	−0.0329%	1h	0.09751	−0.031%	$178K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09745	−0.092%	$567	$708	5x	as long as short
Lighter XPL	−0.0152%	1h	0.09735	−0.195%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0100% / S +0.0499%	1h	0.09747	−0.070%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09733	−0.211%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.383%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09747	−0.072%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09748	−0.057%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0078%	4h	0.09743	−0.113%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09734	−0.201%	$13K	$2K	5x	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	0.09742	−0.118%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09763	+0.093%	$62.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09745	−0.088%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09730	−0.243%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09748	−0.066%	$43.8M	$106.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09746	−0.082%	$47.5M	$54.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09744	−0.103%	$8.9M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.605%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09744	−0.103%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09746	−0.082%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09740	−0.144%	$2.4M	$1.4M	50x
Bitget XPLUSDTlong	+0.0100%	4h	0.09754	long leg	$8.6M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09746	−0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09719	−0.363%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09736	−0.184%	$261K	$789K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.144%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09752	−0.025%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.246%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09740	−0.144%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09730	−0.246%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09743	−0.115%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09745	−0.092%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09740	−0.144%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09751	−0.031%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09734	−0.205%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4585%	1h	0.09791	+0.375%	$515K	$950K	10x	as long as short