Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against HTX+0.104%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$850.851% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.200%−$20 on $10k

Price spread, last 4 days (all we have)+0.784%+$78 · spread now +0.104%, 7d avg +0.056%

Together, before fees+0.584%+$58 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: Bitget is 0.048% dearer against HTX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09640	0.0100	pay 0.0050% / 4h	3h 05m	$134K	$214K	20x
Short	Bitget XPLUSDT	0.09650	0.0100	get 0.0050% / 4h	3h 05m	$9.2M	$10.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.104%Rate

Funding earned: $0
Price spread: +0.104% → +0.056%: $4.75
Slippage, 4 orders: −$61.08
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.33
Costs to cover: 0.851%
Break-even: never at this rate

Slippage from HTX: live order book, 26 min ago; Bitget: 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, 26 min ago	5.80 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.15 bp	15.0 bp −$15	28.0 bp −$280	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	−0.1088%	1h	0.09637	−0.031%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09640	0.000%	$560	$873	5x	as long as short
Bybit XPLUSDT	−0.0404%	4h	0.09648	+0.083%	$45.6M	$53.9M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09652	+0.130%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09653	+0.135%	$46K	$16K	25x	as long as short
Paradex XPL-USD-PERP	−0.0119%	8h	0.09645	+0.052%	$13K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0082%	4h	0.09644	+0.041%	$7.7M	$48.0M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09647	+0.073%	$30K	$220K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09651	+0.116%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.466%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09657	+0.174%	$73K	—	150x	as long as short
Extended XPL-USD	+0.0008%	1h	0.09645	+0.056%	$610K	$1.2M	25x	as long as short
Binance XPLUSDT	+0.0088%	4h	0.09646	+0.062%	$44.2M	$98.1M	75x	as long as short
MEXC XPL_USDT	+0.0088%	4h	0.09647	+0.073%	$13.5M	$6.7M	100x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09643	+0.031%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09660	+0.213%	$61.1M	$45.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09659	+0.198%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09654	+0.149%	$221K	$47K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09650	+0.104%	$3.1M	$3.4M	75x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09648	+0.083%	$2.4M	$1.3M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09650	+0.104%	$9.2M	$10.0M	75x
BingX XPL-USDT	+0.0100%	4h	0.09647	+0.073%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09653	+0.135%	$184K	$173K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09642	+0.020%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09647	+0.074%	$259K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.207%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09655	+0.156%	$127K	$1.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	0.000%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	+0.104%	$181	$9K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09640	long leg	$134K	$214K	20x
Bulk XPL-USD	+0.0100%	1h	0.09640	0.000%	$140K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09650	+0.104%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09660	+0.207%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0328%	4h	0.09639	−0.010%	$1.7M	$947K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09746	+1.100%	$65K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2672%	1h	0.09707	+0.699%	$554K	$973K	10x	as long as short