Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against HTX+0.142%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 dYdX

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. dYdX is 0.142% dearer against HTX than usual: you sell high and buy low (spread +0.142% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09605	0.0100	pay 0.0050% / 4h	1h 42m	$144K	$264K	20x
Short	dYdX XPL-USD	0.09619	0	get 0.0000% / 1h	42m 06s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$21
Price spread: +0.142% → 0.000%: $14.23
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$28.77
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 20 min ago; dYdX: 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, 20 min ago	14.47 bp	58.2 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0603%	1h	0.09621	+0.167%	$180K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09611	+0.062%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0246% / S +0.0575%	1h	0.09625	+0.208%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09622	+0.177%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0004%	4h	0.09616	+0.115%	$29K	$335K	10x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09619	+0.142%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.179%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	+0.220%	$73K	—	150x	as long as short
Lighter XPL	+0.0024%	1h	0.09611	+0.062%	$4.4M	$4.2M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09617	+0.125%	$8.3M	$53.3M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0052%	8h	0.09624	+0.203%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09619	+0.151%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09628	+0.242%	$60.5M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09621	+0.162%	$244K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09625	+0.210%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09608	+0.031%	$43.5M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09604	−0.010%	$45.6M	$56.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.677%	$139K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09617	+0.125%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09618	+0.135%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09607	+0.021%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09625	+0.208%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09615	+0.104%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09526	−0.824%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09550	−0.573%	$258K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09580	−0.260%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09633	+0.287%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.052%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.156%	$2K	$11K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09605	long leg	$144K	$264K	20x
Extended XPL-USD	+0.0104%	1h	0.09616	+0.117%	$632K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	+0.104%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09573	−0.333%	$194K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09590	−0.156%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.364%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	+0.558%	$548K	$1.0M	10x	as long as short