Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: MEXC against dYdX+0.028%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 MEXC

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 MEXC is 0.028% dearer against dYdX than usual: you sell high and buy low: +$3 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	0.09765	0	get 0.0000% / 1h	29m 08s	$8K	—	5x
Short	MEXC XPL_USDT	0.09768	0.0100	get 0.0050% / 4h	2h 29m	$12.8M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.028%Rate

Funding earned: $21
Price spread: +0.028% → 0.000%: $2.81
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $13.81
Costs to cover: 0.100%
Break-even: 2.4 days

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.51 bp	1.6 bp −$2	9.4 bp −$94	97.2 bp −$9,716	239.1 bp −$119.6K

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
Lighter XPL	−0.0120%	1h	0.09760	−0.054%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0077% / S +0.0484%	1h	0.09772	+0.071%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0057%	1h	0.09773	+0.079%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0014%	1h	0.09774	+0.090%	$178K	$283K	10x	as long as short
01 Exchange XPLUSD	−0.0008%	1h	0.09772	+0.069%	$568	$582	5x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09765	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.474%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09773	+0.074%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09770	+0.049%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09765	−0.005%	$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	0.09770	+0.051%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09783	+0.179%	$62.9M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09773	+0.080%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09770	+0.049%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09769	+0.040%	$44.1M	$104.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09768	+0.028%	$47.6M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09764	−0.013%	$9.0M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.259%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09769	+0.038%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09768	+0.028%	$12.8M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09775	+0.100%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09771	+0.059%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09767	+0.018%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09744	−0.217%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.157%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.054%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09780	+0.149%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.156%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	+0.049%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09756	−0.095%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09768	+0.029%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09775	+0.104%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09768	+0.028%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	+0.079%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.806%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3486%	1h	0.09809	+0.445%	$516K	$940K	10x	as long as short