Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0264%/8h= +28.9% APRpaid last 24h +0.073%

Price spread now: KuCoin against Deribit+0.072%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and KuCoin is 0.072% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XPL_USDC-PERPETUAL	0.09660	−0.0164	get 0.0020% / 1h	23m 32s	$46K	$18K	25x
Short	KuCoin XPLUSDTM	0.09667	0.0100	get 0.0050% / 4h	2h 23m	$2.3M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.072%Rate

Funding earned: $55.42
Price spread: +0.072% → 0.000%: $7.25
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $43.67
Costs to cover: 0.190%
Break-even: 1.5 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 8 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 8 min ago	11.83 bp	27.8 bp −$28	146.2 bp −$1,462	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XPL on 35 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
01 Exchange XPLUSD	−0.0232%	1h	0.09661	+0.010%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0198% / S +0.0562%	1h	0.09662	+0.020%	$111K	—	100x	as long as short
Deribit XPL_USDC-PERPETUALlong	−0.0164%	1h	0.09660	long leg	$46K	$18K	25x
Backpack XPL_USDC_PERP	−0.0130%	1h	0.09669	+0.093%	$179K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09667	+0.073%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.628%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09658	−0.021%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09663	+0.027%	$61K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0057%	4h	0.09661	+0.010%	$8.4M	$54.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09665	+0.057%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09663	+0.031%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09664	+0.041%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09672	+0.123%	$61.7M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09675	+0.160%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09674	+0.147%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09661	+0.011%	$43.9M	$110.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09658	−0.021%	$46.5M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.158%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09661	+0.010%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09669	+0.093%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09667	+0.072%	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09667	+0.072%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09663	+0.031%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09672	+0.123%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09669	+0.093%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.104%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09671	+0.113%	$129K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.104%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	0.000%	$194	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09669	+0.093%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09659	−0.006%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09664	+0.045%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09675	+0.155%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+1.097%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4405%	1h	0.09709	+0.507%	$551K	$1.0M	10x	as long as short