Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Extended+0.036%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$550.552% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 4 days (all we have)+0.135%+$13 · spread now +0.036%, 7d avg +0.084%

Together, before fees+0.180%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.048% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09565	0.0104	pay 0.0013% / 1h	54m 44s	$647K	$1.1M	25x
Short	Aster XPLUSDT	0.09568	0.0100	get 0.0050% / 4h	54m 44s	$243K	$488K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$0.84
Price spread: +0.036% → +0.084%: −$4.84
Slippage, 4 orders: −$42.15
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$60.84
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Aster: live order book, 3 min ago.

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 Extended live order book, 3 min ago	2.09 bp	10.5 bp −$10	24.5 bp −$245	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	4.70 bp	17.7 bp −$18	129.6 bp −$1,296	doesn't fit	doesn't fit

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	−0.0424%	1h	0.09522	−0.445%	$554	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0322%	1h	0.09549	−0.163%	$177K	$227K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0287% / S +0.0599%	1h	0.09541	−0.241%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0274%	1h	0.09540	−0.257%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0142%	4h	0.09558	−0.069%	$45.3M	$56.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09570	+0.053%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−20.849%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09538	−0.278%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09542	−0.231%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0068%	8h	0.09560	−0.052%	$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
OKX XPL-USDT-SWAP	+0.0080%	4h	0.09561	−0.037%	$8.2M	$50.3M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09561	−0.037%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09528	−0.377%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09580	+0.156%	$60.1M	$47.1M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09568	+0.036%	$243K	$488K	20x
Pacifica XPL	+0.0100%	1h	0.09570	+0.058%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09567	+0.022%	$43.3M	$106.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09561	−0.037%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09563	−0.016%	$12.4M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09564	−0.006%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09571	+0.067%	$8.5M	$10.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09568	+0.036%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.300%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09565	+0.006%	$262K	$941K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.057%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09541	−0.249%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	−0.466%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09540	−0.257%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09553	−0.121%	$143K	$240K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09575	+0.109%	$139K	$5K	10x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09565	long leg	$647K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09537	−0.288%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09576	+0.119%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09530	−0.361%	$1.7M	$993K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.433%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3333%	1h	0.09572	+0.080%	$542K	$978K	10x	as long as short