Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.029%

Price spread now: 01 Exchange against GRVT+0.246%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. 01 Exchange is 0.246% dearer against GRVT than usual: you sell high and buy low (spread +0.246% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XPL_USDT_Perp	0.09698	0.0100	pay 0.0050% / 4h	2h 02m	$262K	$775K	10x
Short	01 Exchange XPLUSD	0.09722	−0.0072	pay 0.0009% / 1h	2m 41s	$565	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.246%Rate

Funding earned: −$36.12
Price spread: +0.246% → 0.000%: $24.62
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$27.5
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: GRVT: live order book, 20 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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, 20 min ago	5.11 bp	48.7 bp −$49	260.0 bp −$2,600	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Backpack XPL_USDC_PERP	−0.0104%	1h	0.09717	+0.195%	$177K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0090% / S +0.0492%	1h	0.09720	+0.224%	$112K	—	100x	as long as short
Lighter XPL	−0.0072%	1h	0.09702	+0.040%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSDshort	−0.0072%	1h	0.09722	+0.246%	$565	$708	5x
dYdX XPL-USD	0.0000%	1h	0.09720	+0.220%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.938%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09717	+0.195%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09719	+0.215%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09710	+0.122%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09705	+0.069%	$13K	$2K	5x	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	0.09718	+0.202%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09728	+0.309%	$62.4M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09717	+0.199%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09715	+0.173%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09708	+0.100%	$43.7M	$105.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09708	+0.102%	$47.3M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09700	+0.019%	$9.0M	$53.2M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09708	+0.102%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09713	+0.153%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09718	+0.205%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09708	+0.102%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09700	+0.019%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09662	−0.372%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09698	long leg	$262K	$775K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.122%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09729	+0.322%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.084%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.122%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09710	+0.122%	$137K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.032%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09703	+0.046%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.174%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09711	+0.133%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09705	+0.071%	$196K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09731	+0.339%	$73K	$102K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3505%	1h	0.09757	+0.611%	$514K	$948K	10x	as long as short