Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.004%

Price spread now: OKX against Extended−0.160%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

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

costs, in and out, $10k−$390.386% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.353%+$35 · spread now −0.160%, 7d avg +0.053%

Together, before fees+0.342%+ Points / potential airdropExtended: Active · farm board+$34 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: OKX is 0.213% cheaper against Extended than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09742	0.0104	pay 0.0013% / 1h	21m 45s	$660K	$1.1M	25x
Short	OKX XPL-USDT-SWAP	0.09726	0.0100	get 0.0050% / 4h	1h 21m	$9.0M	$53.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.160%Rate

Funding earned: −$0.84
Price spread: −0.160% → +0.053%: −$21.35
Slippage, 4 orders: −$23.65
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$60.84
Costs to cover: 0.386%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; OKX: live order book, 2 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	2.05 bp	6.3 bp −$6	20.6 bp −$206	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.51 bp	10.0 bp −$10	32.9 bp −$329	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
Backpack XPL_USDC_PERP	−0.0304%	1h	0.09750	+0.086%	$177K	$282K	10x	as long as short
Lighter XPL	−0.0248%	1h	0.09736	−0.057%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09738	−0.037%	$566	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0110% / S +0.0505%	1h	0.09742	+0.001%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0058%	1h	0.09742	+0.004%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09739	−0.025%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.287%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09742	+0.001%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0072%	4h	0.09738	−0.037%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09736	−0.055%	$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
Nado XPL-PERP	+0.0100%	1h	0.09735	−0.063%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09762	+0.211%	$63.1M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09751	+0.101%	$252K	$526K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09745	+0.032%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09735	−0.069%	$43.9M	$106.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09734	−0.078%	$48.0M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09726	−0.160%	$9.0M	$53.9M	50x
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.549%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09741	−0.006%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09735	−0.068%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09738	−0.037%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09735	−0.068%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09726	−0.160%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09689	−0.537%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09766	+0.250%	$260K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.394%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09749	+0.072%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.119%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09740	−0.016%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09737	−0.047%	$138K	$246K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09742	long leg	$660K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09744	+0.022%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09753	+0.117%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09703	−0.396%	$196K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.189%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4580%	1h	0.09801	+0.614%	$563K	$994K	10x	as long as short