Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Pacifica against BloFin+0.018%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$600.602% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.433%−$43 on $10k

Price spread, last 3 days (all we have)+0.500%+$50 · spread now +0.018%, 7d avg +0.062%

Together, before fees+0.068%+ Points / potential airdropPacifica: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Pacifica is 0.044% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.062%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XPL-USDT	0.09737	0.0340	pay 0.0170% / 4h	2h 49m	$1.8M	$1.2M	75x
Short	Pacifica XPL	0.09739	0.0100	get 0.0013% / 1h	49m 52s	$221K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BloFin. 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 BloFinbpFee PacificabpOrdersPrice spread, now +0.018%Rate

Funding earned: −$50.4
Price spread: +0.018% → +0.062%: −$4.37
Slippage, 4 orders: −$40.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$115.01
Costs to cover: 0.602%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Pacifica: live order book, 38 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 BloFin live order book, 3 min ago	1.54 bp	9.7 bp −$10	20.7 bp −$207	73.9 bp −$7,392	doesn't fit
Sell Pacifica live order book, 38 min ago	10.08 bp	20.0 bp −$20	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	−0.0280%	1h	0.09714	−0.236%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0264%	1h	0.09728	−0.092%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0219%	1h	0.09731	−0.062%	$180K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0067% / S +0.0477%	1h	0.09727	−0.099%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09730	−0.072%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.247%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09731	−0.060%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09725	−0.123%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09739	+0.016%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09731	−0.062%	$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	0.09721	−0.161%	$62.7M	$46.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09731	−0.064%	$252K	$527K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09739	+0.018%	$221K	$19K	10x
Binance XPLUSDT	+0.0100%	4h	0.09717	−0.201%	$44.3M	$103.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09713	−0.246%	$46.9M	$52.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09714	−0.236%	$9.0M	$52.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09716	−0.216%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09727	−0.103%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09715	−0.226%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09723	−0.144%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09715	−0.226%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.025%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.235%	$265K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.175%	$25K	$84K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09736	−0.010%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.277%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	−0.175%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09726	−0.113%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.072%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09720	−0.169%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09729	−0.081%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0272%	1h	0.09727	−0.103%	$566	$582	5x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09737	long leg	$1.8M	$1.2M	75x
Phoenix XPL	+0.0485%	1h	0.09742	+0.051%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+2.342%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3478%	1h	0.09833	+0.988%	$500K	$912K	10x	as long as short