Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against HTX−0.165%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1031.027% of the position

Long on HTX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 3 days (all we have)+0.336%+$34 · spread now −0.165%, 7d avg +0.022%

Together, before fees+0.158%+$16 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: MEXC is 0.187% cheaper against HTX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09703	0.0100	pay 0.0050% / 4h	2h 28m	$143K	$258K	20x
Short	MEXC XPL_USDT	0.09687	0.0100	get 0.0050% / 4h	2h 28m	$12.8M	$7.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.165%Rate

Funding earned: $0
Price spread: −0.165% → +0.022%: −$18.7
Slippage, 4 orders: −$90.71
Fee HTX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$121.41
Costs to cover: 1.027%
Break-even: never at this rate

Slippage from HTX: live order book, 38 min ago; MEXC: live order book, 4 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, 38 min ago	13.68 bp	20.4 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.51 bp	4.2 bp −$4	9.6 bp −$96	92.1 bp −$9,212	231.9 bp −$116.0K

XPL on 35 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
Deribit XPL_USDC-PERPETUAL	−0.0369%	1h	0.09689	−0.144%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0232%	1h	0.09709	+0.062%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0195% / S +0.0560%	1h	0.09730	+0.276%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0076%	1h	0.09692	−0.113%	$179K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09737	+0.350%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.974%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09711	+0.082%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09728	+0.253%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0050%	4h	0.09678	−0.258%	$8.4M	$55.0M	50x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09734	+0.316%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09678	−0.258%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09713	+0.103%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09695	−0.077%	$62.2M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09697	−0.057%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09731	+0.290%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09680	−0.237%	$44.0M	$110.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09676	−0.278%	$46.6M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09672	−0.323%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09682	−0.216%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09687	−0.165%	$12.8M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09685	−0.186%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09687	−0.165%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09680	−0.237%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09726	+0.237%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	+0.278%	$266K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.278%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09718	+0.156%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	+0.072%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	−0.237%	$196	$11K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09703	long leg	$143K	$258K	20x
Extended XPL-USD	+0.0104%	1h	0.09678	−0.253%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09684	−0.197%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09715	+0.124%	$197K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.649%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4395%	1h	0.09732	+0.303%	$552K	$1.0M	10x	as long as short