Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against HTX+0.031%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1331.332% of the position

Long on HTX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now +0.031%, 7d avg +0.048%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09720	0.0100	pay 0.0050% / 4h	1h 09m	$138K	$246K	20x
Short	KuCoin XPLUSDTM	0.09723	0.0100	get 0.0050% / 4h	1h 09m	$2.4M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → +0.048%: −$1.75
Slippage, 4 orders: −$109.18
Fee HTX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$134.93
Costs to cover: 1.332%
Break-even: never at this rate

Slippage from HTX: live order book, 7 min ago; KuCoin: live order book, 2 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, 7 min ago	26.28 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	9.27 bp	30.8 bp −$31	155.7 bp −$1,557	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
Backpack XPL_USDC_PERP	−0.0289%	1h	0.09720	0.000%	$177K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09713	−0.072%	$565	$708	5x	as long as short
Lighter XPL	−0.0192%	1h	0.09712	−0.082%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0115% / S +0.0509%	1h	0.09713	−0.076%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09721	+0.007%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.114%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09713	−0.072%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09712	−0.081%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09707	−0.134%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09727	+0.067%	$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	0.09710	−0.103%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09744	+0.243%	$63.0M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09725	+0.051%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09730	+0.098%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09727	+0.070%	$44.0M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09727	+0.072%	$47.9M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09723	+0.031%	$8.9M	$54.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.059%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09719	−0.010%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09725	+0.051%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09723	+0.031%	$2.4M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09731	+0.113%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09725	+0.051%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09707	−0.132%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09717	−0.032%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	0.000%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09720	0.000%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.206%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.103%	$447	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09720	long leg	$138K	$246K	20x
Extended XPL-USD	+0.0104%	1h	0.09719	−0.010%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.056%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09716	−0.041%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09730	+0.103%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.412%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4594%	1h	0.09771	+0.530%	$561K	$995K	10x	as long as short