Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.019%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.019%, 7d avg +0.047%

Together, before fees+0.025%+ Points / potential airdropExtended: Active · farm board+$2 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: Binance is 0.028% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09649	0.0104	pay 0.0013% / 1h	17m 28s	$636K	$1.1M	25x
Short	Binance XPLUSDT	0.09651	0.0100	get 0.0050% / 4h	1h 17m	$43.7M	$108.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.019%Rate

Funding earned: −$0.84
Price spread: +0.019% → +0.047%: −$2.8
Slippage, 4 orders: −$22.61
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$41.25
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Binance: live order book, 10 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, 1 min ago	1.55 bp	9.5 bp −$9	24.6 bp −$246	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.52 bp	11.5 bp −$12	26.3 bp −$263	101.1 bp −$10.1K	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	−0.0376%	1h	0.09644	−0.057%	$561	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0286%	1h	0.09652	+0.026%	$182K	$230K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0263% / S +0.0585%	1h	0.09646	−0.032%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0080%	4h	0.09646	−0.036%	$45.7M	$56.7M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09645	−0.047%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09658	+0.084%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.544%	—	—	—	as long as short
Orderly PERP_XPL_USDC	0.0000%	4h	0.09643	−0.067%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09658	+0.084%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0058%	4h	0.09650	+0.005%	$8.3M	$52.8M	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	+0.0063%	8h	0.09652	+0.030%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09646	−0.036%	$4.4M	$4.2M	10x	as long as short
Gate XPL_USDT	+0.0098%	4h	0.09653	+0.036%	$3.0M	$3.8M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09650	+0.010%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09667	+0.179%	$60.6M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09658	+0.090%	$245K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09660	+0.106%	$220K	$48K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09651	+0.019%	$43.7M	$108.5M	75x
Bulk XPL-USD	+0.0100%	1h	0.09610	−0.409%	$140K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09653	+0.036%	$12.6M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09653	+0.036%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09658	+0.088%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09649	−0.005%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09649	−0.008%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09638	−0.115%	$261K	$922K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.109%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09660	+0.111%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.202%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.098%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09643	−0.067%	$145K	$263K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09649	long leg	$636K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09644	−0.061%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.109%	$196K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	−0.109%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.213%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3549%	1h	0.09687	+0.387%	$549K	$1.0M	10x	as long as short