Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: OKX against dYdX−0.027%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on OKX

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

Funding pays, the price is against you. OKX is 0.027% cheaper against dYdX than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09721	0	get 0.0000% / 1h	8m 45s	$8K	—	5x
Short	OKX XPL-USDT-SWAP	0.09718	0.0100	get 0.0050% / 4h	1h 08m	$8.9M	$53.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $21
Price spread: −0.027% → 0.000%: −$2.73
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1.73
Costs to cover: 0.200%
Break-even: 7.6 days

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.51 bp	7.9 bp −$8	31.4 bp −$314	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
Backpack XPL_USDC_PERP	−0.0281%	1h	0.09728	+0.076%	$177K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09729	+0.086%	$566	$708	5x	as long as short
Lighter XPL	−0.0192%	1h	0.09713	−0.079%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0116% / S +0.0509%	1h	0.09726	+0.051%	$112K	—	100x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09721	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.119%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09727	+0.065%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09726	+0.057%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09723	+0.024%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09724	+0.030%	$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	0.09725	+0.045%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09742	+0.215%	$63.0M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09729	+0.082%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09729	+0.089%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09724	+0.033%	$43.9M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09727	+0.065%	$47.9M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09718	−0.027%	$8.9M	$53.9M	50x
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.066%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09721	+0.004%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09725	+0.045%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09722	+0.014%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09729	+0.086%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09720	−0.007%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09707	−0.139%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09717	−0.039%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.007%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09736	+0.157%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.110%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	−0.007%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09720	−0.007%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09719	−0.022%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09727	+0.064%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09722	+0.014%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09727	+0.065%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.405%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4590%	1h	0.09780	+0.606%	$561K	$995K	10x	as long as short