Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Pacifica against GRVT−0.260%52s7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as 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−$1741.743% of the position

Long on GRVT Short on Pacifica

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)+0.125%+$13 · spread now −0.260%, 7d avg +0.051%

Together, before fees+0.145%+ Points / potential airdropGRVT: Active · Pacifica: Active · farm board+$15 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: Pacifica is 0.311% cheaper against GRVT than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.051%. 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	0.09940	0.0100	pay 0.0050% / 4h	3h 19m	$263K	$828K	10x
Short	Pacifica XPL	0.09914	0.0100	get 0.0013% / 1h	19m 57s	$226K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.260%Rate

Funding earned: $0
Price spread: −0.260% → +0.051%: −$31.1
Slippage, 4 orders: −$157.3
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$205.4
Costs to cover: 1.743%
Break-even: never at this rate

Slippage from GRVT: live order book, 53 min ago; Pacifica: live order book, 53 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, 53 min ago	5.15 bp	65.5 bp −$65	156.9 bp −$1,569	doesn't fit	doesn't fit
Sell Pacifica live order book, 53 min ago	15.44 bp	25.4 bp −$25	doesn't fit	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0169% / S +0.0544%	1h	0.09916	−0.242%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0160%	1h	0.09910	−0.302%	$576	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0153%	1h	0.09913	−0.272%	$48K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09903	−0.372%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09909	−0.310%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.837%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09914	−0.265%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0024%	4h	0.09909	−0.312%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09910	−0.303%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0093%	1h	0.09910	−0.302%	$186K	$271K	10x	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	0.09908	−0.317%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09918	−0.221%	$257K	$534K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09914	−0.260%	$226K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09899	−0.407%	$45.3M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09910	−0.302%	$48.2M	$56.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09904	−0.362%	$8.8M	$56.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09880	−0.604%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09910	−0.302%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09905	−0.352%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09912	−0.282%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09913	−0.272%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09894	−0.463%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09915	−0.253%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09940	long leg	$263K	$828K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09930	−0.101%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09925	−0.151%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09890	−0.503%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09910	−0.302%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09882	−0.584%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09903	−0.375%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09965	+0.247%	$30K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09941	+0.010%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0224%	1h	0.09923	−0.175%	$64.4M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09912	−0.282%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.402%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4994%	1h	0.09962	+0.221%	$576K	$1.0M	10x	as long as short