Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Aster against GRVT−0.383%50s7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1711.711% of the position

Long on GRVT Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 3 days (all we have)+0.062%+$6 · spread now −0.383%, 7d avg +0.061%

Together, before fees+0.082%+ Points / potential airdropGRVT: Active · Aster: Stage 5 · farm board+$8 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: Aster is 0.444% cheaper against GRVT than usual: you would sell low and buy high, −$44 on $10k if it goes back to its 7-day average of +0.061%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XPL_USDT_Perp	0.09796	0.0100	pay 0.0050% / 4h	2h 16m	$265K	$775K	10x
Short	Aster XPLUSDT	0.09758	0.0100	get 0.0050% / 4h	2h 16m	$252K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GRVT. 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 GRVTbpFee AsterbpOrdersPrice spread, now −0.383%Rate

Funding earned: $0
Price spread: −0.383% → +0.061%: −$44.44
Slippage, 4 orders: −$154.06
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$215.5
Costs to cover: 1.711%
Break-even: never at this rate

Slippage from GRVT: live order book, 6 min ago; Aster: live order book, 6 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 GRVT live order book, 6 min ago	5.11 bp	48.7 bp −$49	260.0 bp −$2,600	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	7.13 bp	18.3 bp −$18	126.2 bp −$1,262	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	−0.0088%	1h	0.09743	−0.537%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0083% / S +0.0488%	1h	0.09765	−0.314%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0040%	1h	0.09748	−0.486%	$567	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0004%	1h	0.09766	−0.303%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09759	−0.375%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.715%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09767	−0.292%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09764	−0.325%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09761	−0.354%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0093%	8h	0.09751	−0.457%	$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	0.09748	−0.486%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09763	−0.330%	$62.7M	$47.1M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09758	−0.383%	$252K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09759	−0.376%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09752	−0.445%	$44.0M	$105.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09751	−0.456%	$47.5M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09752	−0.445%	$9.0M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+0.198%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09750	−0.466%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09752	−0.445%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09747	−0.496%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09759	−0.374%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09753	−0.435%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09808	+0.131%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09796	long leg	$265K	$775K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.147%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09765	−0.315%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.670%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09760	−0.364%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09774	−0.221%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09752	−0.450%	$661K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09768	−0.277%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09754	−0.425%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09836	+0.412%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09805	+0.096%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3487%	1h	0.09807	+0.121%	$517K	$942K	10x	as long as short