Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h −0.080%

Price spread now: 01 Exchange against HTX−0.105%7-day average — · you buy dearer than you sell

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

Long on HTX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and 01 Exchange is 0.105% cheaper against HTX than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09501	0.0100	pay 0.0050% / 4h	3h 39m	$131K	$212K	20x
Short	01 Exchange XPLUSD	0.09491	−0.0440	pay 0.0055% / 1h	39m 47s	$552	$873	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.105%Rate

Funding earned: −$113.4
Price spread: −0.105% → 0.000%: −$10.53
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$142.93
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 57 min ago; 01 Exchange: 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, 57 min ago	18.90 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Lighter XPL	−0.1320%	1h	0.09510	+0.095%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSDshort	−0.0440%	1h	0.09491	−0.105%	$552	$873	5x
Bybit XPLUSDT	−0.0377%	4h	0.09506	+0.053%	$45.2M	$54.1M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09530	+0.301%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0104%	8h	0.09505	+0.038%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0100%	4h	0.09511	+0.105%	$2.9M	$3.3M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0065%	1h	0.09514	+0.137%	$46K	$18K	25x	as long as short
OKX XPL-USDT-SWAP	−0.0028%	4h	0.09506	+0.053%	$7.6M	$47.4M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0025%	4h	0.09506	+0.053%	$30K	$261K	10x	as long as short
Backpack XPL_USDC_PERP	−0.0013%	1h	0.09518	+0.179%	$178K	$179K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09511	+0.110%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.316%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09512	+0.113%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09495	−0.063%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09525	+0.249%	$60.3M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09516	+0.156%	$251K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09515	+0.144%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09510	+0.091%	$43.2M	$98.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09510	+0.095%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09507	+0.063%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09520	+0.200%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09507	+0.063%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	+0.157%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09520	+0.200%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.621%	$25K	$74K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09505	+0.037%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09490	−0.116%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	+0.095%	$191	$9K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09501	long leg	$131K	$212K	20x
Bulk XPL-USD	+0.0100%	1h	0.09540	+0.415%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09507	+0.063%	$588K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09510	+0.095%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09548	+0.495%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09529	+0.295%	$1.7M	$923K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+1.000%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2715%	1h	0.09552	+0.538%	$542K	$953K	10x	as long as short