Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: HTX against GRVT+0.247%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$2062.060% of the position

Long on GRVT Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 3 days (all we have)−0.417%−$42 · spread now +0.247%, 7d avg 0.000%

Together, before fees−0.248%+ Points / potential airdropGRVT: Active · farm board−$25 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 0.246% dearer against GRVT than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XPL_USDT_Perp	0.09679	0.0100	pay 0.0050% / 4h	2h 26m	$264K	$877K	10x
Short	HTX XPL-USDT	0.09703	0.0100	get 0.0050% / 4h	2h 26m	$143K	$258K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.247%Rate

Funding earned: $0
Price spread: +0.247% → 0.000%: $24.64
Slippage, 4 orders: −$184.96
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$181.32
Costs to cover: 2.060%
Break-even: never at this rate

Slippage from GRVT: live order book, 41 min ago; HTX: live order book, 40 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, 41 min ago	5.05 bp	58.4 bp −$58	120.6 bp −$1,206	doesn't fit	doesn't fit
Sell HTX live order book, 40 min ago	13.68 bp	73.7 bp −$74	doesn't fit	doesn't fit	doesn't fit

XPL on 35 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	−0.0232%	1h	0.09671	−0.084%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0196% / S +0.0561%	1h	0.09716	+0.383%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09715	+0.371%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0089%	1h	0.09716	+0.381%	$179K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09680	+0.010%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.783%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09712	+0.340%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09716	+0.386%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0053%	4h	0.09674	−0.053%	$8.3M	$54.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09678	−0.009%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09669	−0.104%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09674	−0.055%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09687	+0.082%	$61.9M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09686	+0.075%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09679	−0.001%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09672	−0.072%	$44.0M	$110.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09673	−0.063%	$46.6M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	−0.039%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09671	−0.084%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09674	−0.053%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09670	−0.094%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09680	+0.009%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09673	−0.063%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09726	+0.484%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09679	long leg	$264K	$877K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.216%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09685	+0.058%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	+0.216%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.319%	$194	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09703	+0.247%	$143K	$258K	20x
Extended XPL-USD	+0.0104%	1h	0.09671	−0.081%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09710	+0.319%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09701	+0.226%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.898%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4388%	1h	0.09749	+0.718%	$553K	$1.0M	10x	as long as short