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: SunX against HTX−0.268%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$401as in the Funding arb table

Net, price: spread back to 7d avg − costs−$396as in the Price arb table

costs, in and out, $10k−$3843.836% of the position

Long on HTX Short on SunX

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)+0.170%+$17 · spread now −0.268%, 7d avg −0.142%

Together, before fees−0.005%$0 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: SunX is 0.126% cheaper against HTX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09716	0.0100	pay 0.0050% / 4h	27m 38s	$138K	$233K	20x
Short	SunX XPL-USDT	0.09690	0.0100	get 0.0050% / 4h	27m 38s	$2K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.268%Rate

Funding earned: $0
Price spread: −0.268% → −0.142%: −$12.56
Slippage, 4 orders: −$363.57
Fee HTX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$396.13
Costs to cover: 3.836%
Break-even: never at this rate

Slippage from HTX: live order book, 49 min ago; SunX: live order book, 8 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, 49 min ago	26.28 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	36.10 bp	151.9 bp −$152	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	−0.0576%	1h	0.09709	−0.072%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09710	−0.062%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0136% / S +0.0522%	1h	0.09720	+0.039%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09718	+0.021%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09720	+0.042%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.082%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09720	+0.041%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0022%	8h	0.09726	+0.108%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0050%	4h	0.09715	−0.010%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0074%	4h	0.09720	+0.041%	$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 XPL	+0.0100%	1h	0.09736	+0.205%	$62.8M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09730	+0.144%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09723	+0.068%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09719	+0.031%	$44.2M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09719	+0.031%	$47.3M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09718	+0.021%	$8.8M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09723	+0.072%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09723	+0.072%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09726	+0.103%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09722	+0.062%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09721	+0.051%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.202%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09699	−0.177%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.062%	$25K	$88K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09716	0.000%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09728	+0.118%	$130K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09690	−0.268%	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09720	+0.041%	$198	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09716	long leg	$138K	$233K	20x
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.167%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09720	+0.043%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09720	+0.041%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09714	−0.021%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09720	+0.041%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.122%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5108%	1h	0.09773	+0.591%	$564K	$1.0M	10x	as long as short