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 Bitget−0.041%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.041%, 7d avg −0.021%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09750	0.0100	pay 0.0050% / 4h	2h 38m	$8.6M	$11.0M	75x
Short	MEXC XPL_USDT	0.09746	0.0100	get 0.0050% / 4h	2h 38m	$12.7M	$7.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.021%: −$1.98
Slippage, 4 orders: −$26.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$40.81
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; MEXC: 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, 5 min ago	3.58 bp	16.0 bp −$16	47.0 bp −$470	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.51 bp	3.8 bp −$4	11.9 bp −$119	95.9 bp −$9,592	232.0 bp −$116.0K

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
Deribit XPL_USDC-PERPETUAL	−0.0571%	1h	0.09737	−0.133%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0192%	1h	0.09735	−0.154%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0072% / S +0.0481%	1h	0.09754	+0.040%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0002%	1h	0.09743	−0.072%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09750	0.000%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.353%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	+0.031%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0016%	1h	0.09747	−0.031%	$567	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09742	−0.082%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09761	+0.109%	$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	0.09756	+0.064%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09758	+0.082%	$62.7M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09741	−0.094%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09750	0.000%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09750	−0.004%	$44.1M	$104.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09740	−0.103%	$47.6M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09744	−0.062%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.743%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09740	−0.103%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09746	−0.041%	$12.7M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09743	−0.072%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09750	long leg	$8.6M	$11.0M	75x
BingX XPL-USDT	+0.0100%	4h	0.09743	−0.072%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.503%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09789	+0.398%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.410%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09759	+0.090%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.205%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.205%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09775	+0.256%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09738	−0.124%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09740	−0.098%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09750	0.000%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09815	+0.667%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.964%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3495%	1h	0.09785	+0.359%	$515K	$939K	10x	as long as short