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 0.000%

Price spread now: Binance against HTX−0.207%53s7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as 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−$1151.153% of the position

Long on HTX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 3 days (all we have)+0.381%+$38 · spread now −0.207%, 7d avg +0.025%

Together, before fees+0.203%+$20 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: Binance is 0.232% cheaper against HTX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.025%. The two prices were read 53 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	HTX XPL-USDT	0.09673	0.0100	pay 0.0050% / 4h	2h 09m	$142K	$247K	20x
Short	Binance XPLUSDT	0.09653	0.0100	get 0.0050% / 4h	2h 09m	$43.8M	$108.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against HTX. 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 HTXbpFee BinancebpOrdersPrice spread, now −0.207%Rate

Funding earned: $0
Price spread: −0.207% → +0.025%: −$23.19
Slippage, 4 orders: −$93.33
Fee HTX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$138.52
Costs to cover: 1.153%
Break-even: never at this rate

Slippage from HTX: live order book, 57 min ago; Binance: live order book, 3 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 HTX live order book, 57 min ago	13.68 bp	20.4 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.52 bp	10.4 bp −$10	25.4 bp −$254	109.9 bp −$11.0K	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
Deribit XPL_USDC-PERPETUAL	−0.0371%	1h	0.09651	−0.227%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0280%	1h	0.09636	−0.383%	$560	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0210%	1h	0.09647	−0.269%	$178K	$243K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0205% / S +0.0567%	1h	0.09659	−0.144%	$111K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09650	−0.238%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09650	−0.242%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.735%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09659	−0.144%	$59K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0045%	4h	0.09645	−0.289%	$8.3M	$53.8M	50x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09650	−0.243%	$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	+0.0048%	1h	0.09644	−0.300%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09649	−0.243%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09659	−0.145%	$61.5M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09660	−0.139%	$246K	$510K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09658	−0.159%	$220K	$47K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09653	−0.207%	$43.8M	$108.4M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09650	−0.238%	$46.5M	$56.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.134%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09648	−0.258%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09649	−0.248%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09654	−0.196%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09652	−0.217%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09652	−0.217%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09671	−0.023%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09670	−0.031%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.072%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09659	−0.149%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.238%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.238%	$196	$11K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09673	long leg	$142K	$247K	20x
Extended XPL-USD	+0.0104%	1h	0.09647	−0.273%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09650	−0.238%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09687	+0.145%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.961%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4412%	1h	0.09695	+0.232%	$550K	$1.0M	10x	as long as short