Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against Bulk+0.475%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on Bulk Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.410%−$41 · spread now +0.475%, 7d avg +0.013%

Together, before fees−0.410%+ Points / potential airdropAster: Stage 5 · farm board−$41 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: Aster is 0.462% dearer against Bulk than usual: you sell high and buy low, +$46 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XPL-USD	0.09714	0.0100	pay 0.0013% / 1h	1m 51s	$142K	$9K	10x
Short	Aster XPLUSDT	0.09760	0.0100	get 0.0050% / 4h	1h 01m	$252K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bulk. 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 BulkbpFee AsterbpOrdersPrice spread, now +0.475%Rate

Funding earned: $0
Price spread: +0.475% → +0.013%: $46.22
Slippage, 4 orders: −$52.88
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$21.66
Costs to cover: 0.679%
Break-even: never at this rate

Slippage from Bulk: live order book, 17 min ago; Aster: live order book, 16 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 Bulk live order book, 17 min ago	5.15 bp	8.6 bp −$9	14.8 bp −$148	45.9 bp −$4,590	doesn't fit
Sell Aster live order book, 16 min ago	4.12 bp	19.4 bp −$19	111.3 bp −$1,113	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	−0.0222%	1h	0.09755	+0.419%	$177K	$279K	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09747	+0.337%	$567	$708	5x	as long as short
Lighter XPL	−0.0200%	1h	0.09742	+0.286%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0119% / S +0.0511%	1h	0.09753	+0.395%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09749	+0.354%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.069%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09753	+0.399%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	+0.401%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0068%	4h	0.09747	+0.337%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09753	+0.403%	$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	0.09754	+0.409%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09769	+0.559%	$63.2M	$47.7M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09760	+0.475%	$252K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09758	+0.450%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09758	+0.450%	$44.1M	$107.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09758	+0.450%	$48.0M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09754	+0.409%	$8.9M	$54.2M	50x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09714	long leg	$142K	$9K	10x
Gate XPL_USDT	+0.0100%	4h	0.09753	+0.399%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09756	+0.430%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09750	+0.368%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09763	+0.502%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09757	+0.440%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09722	+0.082%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	+0.162%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.162%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09759	+0.455%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	+0.162%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	+0.368%	$449	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09754	+0.409%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09756	+0.425%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09750	+0.368%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09755	+0.419%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09734	+0.203%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09778	+0.656%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4578%	1h	0.09806	+0.941%	$564K	$1.0M	10x	as long as short