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: Binance against GRVT−0.187%79s7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as 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−$1271.272% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now −0.187%, 7d avg +0.012%

Together, before fees−0.048%+ Points / potential airdropGRVT: 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: Binance is 0.200% cheaper against GRVT than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 79 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	0.09715	0.0100	pay 0.0050% / 4h	32m 17s	$260K	$806K	10x
Short	Binance XPLUSDT	0.09697	0.0100	get 0.0050% / 4h	32m 17s	$44.1M	$108.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.187%Rate

Funding earned: $0
Price spread: −0.187% → +0.012%: −$19.95
Slippage, 4 orders: −$108.16
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$147.11
Costs to cover: 1.272%
Break-even: never at this rate

Slippage from GRVT: live order book, 46 min ago; Binance: live order book, 11 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, 46 min ago	5.15 bp	76.5 bp −$77	374.4 bp −$3,744	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.51 bp	10.0 bp −$10	23.6 bp −$236	100.3 bp −$10.0K	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	−0.0656%	1h	0.09685	−0.311%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09700	−0.157%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09704	−0.115%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0134% / S +0.0521%	1h	0.09711	−0.041%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09710	−0.048%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.077%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09712	−0.037%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0023%	8h	0.09703	−0.124%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0051%	4h	0.09703	−0.126%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0080%	4h	0.09703	−0.126%	$3.0M	$4.0M	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	0.09706	−0.090%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.051%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09713	−0.024%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09717	+0.016%	$221K	$46K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09697	−0.187%	$44.1M	$108.1M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09697	−0.187%	$47.2M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09698	−0.177%	$8.7M	$54.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	+0.256%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09698	−0.177%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09706	−0.095%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09706	−0.095%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09700	−0.157%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09698	−0.177%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09708	−0.070%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09715	long leg	$260K	$806K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.049%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09717	+0.017%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.362%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.157%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09711	−0.043%	$138K	$233K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09699	−0.163%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09700	−0.157%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09751	+0.368%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09705	−0.105%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.130%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5117%	1h	0.09756	+0.419%	$563K	$1.0M	10x	as long as short