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% APRpaid last 24h +0.021%

Price spread now: Nado against GRVT+0.272%61s7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$1461.455% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 3 days (all we have)−0.280%−$28 · spread now +0.272%, 7d avg +0.030%

Together, before fees−0.259%+ Points / potential airdropGRVT: Active · Nado: Active · farm board−$26 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: Nado is 0.242% dearer against GRVT than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.030%. The two prices were read 61 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	0.09750	0.0100	pay 0.0050% / 4h	3m 54s	$258K	$814K	10x
Short	Nado XPL-PERP	0.09776	0.0100	get 0.0012% / 1h	3m 54s	$1.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.272%Rate

Funding earned: $0
Price spread: +0.272% → +0.030%: $24.19
Slippage, 4 orders: −$129.5
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$121.32
Costs to cover: 1.455%
Break-even: never at this rate

Slippage from GRVT: live order book, 9 min ago; Nado: live order book, 5 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, 9 min ago	5.15 bp	65.5 bp −$65	156.9 bp −$1,569	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	1.54 bp	7.9 bp −$8	19.2 bp −$192	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	−0.0536%	1h	0.09774	+0.246%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09785	+0.359%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0148% / S +0.0530%	1h	0.09784	+0.352%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09786	+0.369%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09779	+0.294%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.355%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09783	+0.341%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0012%	8h	0.09774	+0.247%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0036%	4h	0.09780	+0.308%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0040%	4h	0.09787	+0.379%	$3.1M	$4.1M	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-PERPshort	+0.0100%	1h	0.09776	+0.272%	$1.4M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09802	+0.534%	$63.2M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09793	+0.438%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09781	+0.320%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09784	+0.347%	$44.6M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09781	+0.318%	$47.4M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09780	+0.308%	$8.7M	$55.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09760	+0.103%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09785	+0.359%	$12.9M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09782	+0.328%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09789	+0.400%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09780	+0.308%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09793	+0.441%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09760	+0.104%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09750	long leg	$258K	$814K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	+0.205%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09792	+0.429%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	+0.103%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.308%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09768	+0.185%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09780	+0.305%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09787	+0.379%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09782	+0.328%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09766	+0.164%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09791	+0.421%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5077%	1h	0.09832	+0.846%	$568K	$1.0M	10x	as long as short