Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against GRVT+0.336%52s7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$207as 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−$2052.048% of the position

Long on GRVT Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.567%−$57 · spread now +0.336%, 7d avg +0.010%

Together, before fees−0.591%+ Points / potential airdropGRVT: Active · farm board−$59 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: MEXC is 0.326% dearer against GRVT than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of +0.010%. The two prices were read 52 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	0.09557	0.0100	pay 0.0050% / 4h	2h 22m	$253K	$1.1M	10x
Short	MEXC XPL_USDT	0.09589	0.0100	get 0.0050% / 4h	2h 22m	$12.3M	$6.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.336%Rate

Funding earned: $0
Price spread: +0.336% → +0.010%: $32.6
Slippage, 4 orders: −$195.75
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$172.15
Costs to cover: 2.048%
Break-even: never at this rate

Slippage from GRVT: live order book, just now; MEXC: 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, just now	10.44 bp	57.3 bp −$57	342.1 bp −$3,421	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	1.05 bp	3.5 bp −$3	9.6 bp −$96	94.8 bp −$9,478	234.6 bp −$117.3K

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
Deribit XPL_USDC-PERPETUAL	−0.0272%	1h	0.09570	+0.138%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0272%	1h	0.09588	+0.326%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09570	+0.136%	$106K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09579	+0.232%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09587	+0.314%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.781%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09573	+0.165%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09566	+0.096%	$29K	$306K	10x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09585	+0.290%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09565	+0.085%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09595	+0.398%	$60.7M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09605	+0.503%	$253K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09594	+0.385%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09601	+0.462%	$43.5M	$99.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09605	+0.504%	$45.5M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09603	+0.483%	$8.1M	$48.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	+0.257%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09590	+0.347%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09589	+0.336%	$12.3M	$6.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09582	+0.263%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09606	+0.514%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09596	+0.410%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09578	+0.221%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.125%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09557	long leg	$253K	$1.1M	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.176%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09575	+0.194%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.072%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09570	+0.138%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.368%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09591	+0.362%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09567	+0.108%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09582	+0.263%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09560	+0.033%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09605	+0.504%	$67K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2895%	1h	0.09602	+0.477%	$546K	$981K	10x	as long as short