Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.250%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 SunX

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. SunX is 0.250% cheaper against dYdX than usual: you would sell low and buy high (spread −0.250% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 8.3 days 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	0.09644	0	get 0.0000% / 1h	14m 14s	$8K	—	5x
Short	SunX XPL-USDT	0.09620	0.0100	get 0.0050% / 4h	1h 14m	$3K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.250%Rate

Funding earned: $21
Price spread: −0.250% → 0.000%: −$24.96
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$21.96
Costs to cover: 0.180%
Break-even: 14.3 days

Slippage unknown: dYdX: no order-book sample; SunX: 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 SunX live order book, 12 min ago	504.95 bp	doesn't fit	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	−0.0376%	1h	0.09628	−0.167%	$560	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0272%	1h	0.09644	−0.001%	$179K	$231K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0266% / S +0.0587%	1h	0.09639	−0.048%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0095%	4h	0.09630	−0.146%	$45.6M	$56.7M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09640	−0.042%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	0.0000%	4h	0.09634	−0.104%	$29K	$335K	10x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09644	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.499%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09640	−0.040%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0062%	4h	0.09637	−0.073%	$8.3M	$52.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0065%	8h	0.09637	−0.077%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09631	−0.136%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09632	−0.120%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09648	+0.038%	$60.5M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09641	−0.029%	$244K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09643	−0.012%	$220K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09634	−0.104%	$43.6M	$108.4M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	−0.007%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09637	−0.073%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09636	−0.084%	$12.5M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09627	−0.177%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09641	−0.032%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09634	−0.104%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09645	+0.006%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09649	+0.046%	$254K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.165%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09642	−0.019%	$128K	$2.6M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09620	−0.250%	$3K	$1.9M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.042%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	−0.021%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09634	−0.108%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09636	−0.084%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.165%	$196K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09635	−0.094%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.269%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3552%	1h	0.09679	+0.362%	$549K	$1.0M	10x	as long as short