Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.003%

Price spread now: HTX against Extended+0.091%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$610.606% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

Price spread, last 3 days (all we have)−0.279%−$28 · spread now +0.091%, 7d avg +0.011%

Together, before fees−0.048%+ Points / potential airdropExtended: Active · farm board−$5 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: HTX is 0.080% dearer against Extended than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09788	0.0104	pay 0.0013% / 1h	1m 29s	$658K	$1.1M	25x
Short	HTX XPL-USDT	0.09797	0.0100	get 0.0050% / 4h	1m 29s	$142K	$242K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$0.84
Price spread: +0.091% → +0.011%: $8.02
Slippage, 4 orders: −$43.6
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$53.42
Costs to cover: 0.606%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; HTX: 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, 2 min ago	1.02 bp	5.9 bp −$6	20.7 bp −$207	doesn't fit	doesn't fit
Sell HTX live order book, 10 min ago	0.51 bp	37.8 bp −$38	doesn't fit	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
Lighter XPL	−0.0536%	1h	0.09779	−0.093%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0360%	1h	0.09790	+0.020%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0149% / S +0.0531%	1h	0.09803	+0.155%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09791	+0.031%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.657%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09803	+0.152%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09803	+0.155%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0018%	8h	0.09798	+0.105%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0036%	4h	0.09798	+0.101%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0048%	4h	0.09795	+0.071%	$3.1M	$4.1M	75x	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	0.09791	+0.030%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09809	+0.211%	$63.3M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09794	+0.061%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09796	+0.076%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09788	+0.003%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09789	+0.009%	$47.4M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09788	−0.001%	$8.7M	$55.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09760	−0.287%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09792	+0.040%	$12.9M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09786	−0.021%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09797	+0.091%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09790	+0.020%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09806	+0.183%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09760	−0.285%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.202%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.122%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09802	+0.146%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.185%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.122%	$200	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09797	+0.091%	$142K	$242K	20x
Extended XPL-USDlong	+0.0104%	1h	0.09788	long leg	$658K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09795	+0.065%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09782	−0.062%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09788	−0.001%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09804	+0.163%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5069%	1h	0.09849	+0.624%	$568K	$1.0M	10x	as long as short