Funding arb · Price arb /

XPL

all XPL markets

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: KuCoin against Extended−0.139%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$930.930% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days+0.155%+$15 · spread now −0.139%, 7d avg +0.063%

Together, before fees+0.195%+ Points / potential airdropExtended: Active · farm board+$19 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: KuCoin is 0.202% cheaper against Extended than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09647	0.0104	pay 0.0013% / 1h	25m 41s	$653K	$1.1M	25x
Short	KuCoin XPLUSDTM	0.09634	0.0100	get 0.0050% / 4h	25m 41s	$2.3M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$0.84
Price spread: −0.139% → +0.063%: −$20.21
Slippage, 4 orders: −$76
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$114.05
Costs to cover: 0.930%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; KuCoin: live order book, 1 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	1.56 bp	11.2 bp −$11	26.8 bp −$268	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	8.32 bp	39.9 bp −$40	166.9 bp −$1,669	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	−0.0376%	1h	0.09647	−0.005%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0308% / S +0.0613%	1h	0.09609	−0.393%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0079%	4h	0.09648	+0.006%	$45.7M	$54.7M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09621	−0.274%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09639	−0.090%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.527%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09612	−0.365%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09617	−0.316%	$29K	$339K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0054%	1h	0.09627	−0.212%	$178K	$223K	10x	as long as short
Paradex XPL-USD-PERP	+0.0080%	8h	0.09640	−0.076%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09629	−0.191%	$4.4M	$3.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09653	+0.060%	$60.9M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09635	−0.131%	$242K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09648	+0.005%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09644	−0.036%	$43.9M	$103.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09649	+0.016%	$8.3M	$49.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09550	−1.010%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09646	−0.015%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09646	−0.015%	$12.4M	$7.7M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09634	−0.139%	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09655	+0.078%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09649	+0.016%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09615	−0.339%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09669	+0.227%	$262K	$975K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	−0.077%	$25K	$78K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09603	−0.455%	$1.2M	$2.7M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09614	−0.341%	$124K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.595%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.284%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09612	−0.367%	$141K	$206K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09647	long leg	$653K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.284%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09643	−0.046%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09595	−0.544%	$1.7M	$989K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.296%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3305%	1h	0.09653	+0.056%	$547K	$975K	10x	as long as short