Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.048%

Price spread now: Hyperliquid against HTX−0.154%7-day average +0.163% · you buy dearer than you sell

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

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 3 days (all we have)+0.490%+$49 · spread now −0.154%, 7d avg +0.163%

Together, before fees+0.389%+ Points / potential airdropHyperliquid: Season 2 · farm board+$39 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: Hyperliquid is 0.317% cheaper against HTX than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of +0.163%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09735	0.0100	pay 0.0050% / 4h	37m 14s	$138K	$234K	20x
Short	Hyperliquid XPL	0.09720	0.0100	get 0.0013% / 1h	37m 14s	$62.8M	$48.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.154%Rate

Funding earned: $0
Price spread: −0.154% → +0.163%: −$31.75
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$52.75
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 39 min ago; Hyperliquid: live order book, 6 min ago. 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, 39 min ago	26.28 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.97 bp	10.2 bp −$10	doesn't fit	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	−0.0672%	1h	0.09695	−0.411%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0384%	1h	0.09698	−0.380%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0368%	1h	0.09705	−0.308%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0132% / S +0.0519%	1h	0.09710	−0.254%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09709	−0.262%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.235%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09709	−0.264%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0023%	8h	0.09699	−0.374%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0055%	4h	0.09703	−0.329%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0094%	4h	0.09702	−0.339%	$3.0M	$4.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPLshort	+0.0100%	1h	0.09720	−0.154%	$62.8M	$48.0M	10x
Aster XPLUSDT	+0.0100%	4h	0.09714	−0.212%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09710	−0.257%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09705	−0.305%	$44.1M	$108.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09705	−0.308%	$47.4M	$55.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09704	−0.318%	$8.8M	$54.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	+0.053%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	−0.288%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09707	−0.288%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09711	−0.247%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09702	−0.339%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09712	−0.236%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09752	+0.178%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09755	+0.203%	$261K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.154%	$25K	$88K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09702	−0.344%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09717	−0.189%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.565%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.257%	$200	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09735	long leg	$138K	$234K	20x
Extended XPL-USD	+0.0104%	1h	0.09704	−0.315%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09705	−0.308%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09751	+0.164%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09709	−0.267%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.924%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5107%	1h	0.09775	+0.407%	$564K	$1.0M	10x	as long as short