Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against dYdX+0.024%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on HTX

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 +$3 a day on $10k at the current rate, and HTX is 0.024% dearer against dYdX than usual: you sell high and buy low: +$2 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	dYdX XPL-USD	0.09542	0	get 0.0000% / 1h	44m 24s	$8K	—	5x
Short	HTX XPL-USDT	0.09544	0.0100	get 0.0050% / 4h	44m 24s	$140K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $21
Price spread: +0.024% → 0.000%: $2.42
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $1.42
Costs to cover: 0.220%
Break-even: 6.5 days

Slippage unknown: dYdX: no order-book sample; HTX: live order book, 12 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 dYdX no order-book sample	—	—	—	—	—
Sell HTX live order book, 12 min ago	11.53 bp	54.9 bp −$55	doesn't fit	doesn't fit	doesn't fit

dYdX: 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 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
01 Exchange XPLUSD	−0.0344%	1h	0.09556	+0.150%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0293% / S +0.0604%	1h	0.09569	+0.282%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09524	−0.185%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0104%	4h	0.09560	+0.192%	$45.2M	$55.2M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0078%	1h	0.09525	−0.175%	$177K	$225K	10x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09542	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.658%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0005%	4h	0.09566	+0.255%	$29K	$339K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09569	+0.282%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0073%	8h	0.09531	−0.107%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09538	−0.039%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	+0.184%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09576	+0.364%	$60.0M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09556	+0.150%	$243K	$485K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09547	+0.057%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09566	+0.256%	$43.4M	$104.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09566	+0.255%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09530	−0.122%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09560	+0.192%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09562	+0.213%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09557	+0.160%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09573	+0.328%	$8.5M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09563	+0.223%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.062%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09510	−0.332%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.018%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09562	+0.212%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.332%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	−0.227%	$188	$12K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09544	+0.024%	$140K	$246K	20x
Extended XPL-USD	+0.0104%	1h	0.09554	+0.129%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09562	+0.215%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09551	+0.098%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09513	−0.301%	$1.7M	$980K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09557	+0.160%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3339%	1h	0.09554	+0.129%	$542K	$977K	10x	as long as short