Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.072%

Price spread now: Deribit against HTX+0.051%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.051% dearer against HTX than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09780	0.0100	pay 0.0050% / 4h	3h 41m	$142K	$242K	20x
Short	Deribit XPL_USDC-PERPETUAL	0.09785	−0.0056	pay 0.0007% / 1h	41m 28s	$47K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$32.87
Price spread: +0.051% → 0.000%: $5.11
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.75
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 30 min ago; Deribit: 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 HTX live order book, 30 min ago	0.51 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0283%	1h	0.09782	+0.020%	$181K	$282K	10x	as long as short
Lighter XPL	−0.0232%	1h	0.09769	−0.112%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0184%	1h	0.09780	0.000%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0159% / S +0.0537%	1h	0.09778	−0.025%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0056%	1h	0.09785	+0.051%	$47K	$18K	25x
dYdX XPL-USD	0.0000%	1h	0.09779	−0.013%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.593%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09778	−0.018%	$76K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09775	−0.051%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0033%	8h	0.09776	−0.040%	$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	0.09777	−0.031%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09793	+0.136%	$63.2M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09780	−0.002%	$253K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09782	+0.016%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09775	−0.050%	$44.6M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09775	−0.051%	$47.3M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09773	−0.072%	$8.6M	$55.1M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09775	−0.051%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09777	−0.031%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09780	0.000%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09782	+0.020%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09774	−0.061%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.460%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.126%	$267K	$827K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.409%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09787	+0.072%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.204%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	0.000%	$201	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09780	long leg	$142K	$242K	20x
Bulk XPL-USD	+0.0100%	1h	0.09720	−0.611%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09772	−0.077%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09782	+0.021%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09753	−0.276%	$197K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09763	−0.174%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.358%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5061%	1h	0.09829	+0.501%	$569K	$1.0M	10x	as long as short