Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.019%

Price spread now: GRVT against Extended−0.006%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1291.290% of the position

Long on Extended Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)+1.087%+$109 · spread now −0.006%, 7d avg +0.027%

Together, before fees+1.117%+ Points / potential airdropExtended: Active · GRVT: Active · farm board+$112 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: GRVT is 0.033% 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 +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09666	0.0104	pay 0.0013% / 1h	6m 53s	$655K	$1.1M	25x
Short	GRVT XPL_USDT_Perp	0.09665	0.0100	get 0.0050% / 4h	2h 06m	$257K	$891K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$0.84
Price spread: −0.006% → +0.027%: −$3.34
Slippage, 4 orders: −$115.04
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$133.21
Costs to cover: 1.290%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; GRVT: live order book, 61 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	1.03 bp	10.4 bp −$10	24.0 bp −$240	doesn't fit	doesn't fit
Sell GRVT live order book, 61 min ago	5.05 bp	53.5 bp −$54	237.4 bp −$2,374	doesn't fit	doesn't fit

XPL on 35 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	−0.0288%	1h	0.09662	−0.039%	$562	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0215%	1h	0.09673	+0.075%	$179K	$243K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0206% / S +0.0567%	1h	0.09677	+0.115%	$111K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09675	+0.096%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09671	+0.055%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09677	+0.116%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.677%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09678	+0.125%	$60K	—	150x	as long as short
Lighter XPL	+0.0032%	1h	0.09664	−0.018%	$4.4M	$4.2M	10x	as long as short
Paradex XPL-USD-PERP	+0.0045%	8h	0.09668	+0.023%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0046%	4h	0.09676	+0.106%	$8.4M	$53.8M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	+0.005%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09681	+0.157%	$61.7M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09671	+0.055%	$246K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09679	+0.134%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09678	+0.127%	$43.9M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09665	−0.008%	$46.5M	$56.6M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.059%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09670	+0.044%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09670	+0.044%	$12.6M	$8.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09662	−0.039%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09669	+0.034%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09674	+0.086%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09671	+0.053%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09665	−0.006%	$257K	$891K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	−0.059%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09680	+0.148%	$132K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.059%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.044%	$194	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09664	−0.018%	$144K	$249K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09666	long leg	$655K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09670	+0.044%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09674	+0.086%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+1.037%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4401%	1h	0.09718	+0.540%	$551K	$1.0M	10x	as long as short