Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.4490%/8h= −491.7% APRpaid last 24h −0.288%

Price spread now: Aster against Kraken Futures−0.596%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$1081.079% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 3 days (all we have)+0.781%+$78 · spread now −0.596%, 7d avg −0.032%

Together, before fees+0.786%+ Points / potential airdropAster: Stage 5 · farm board+$79 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$135 a day on $10k at the current rate, and Aster is 0.564% cheaper against Kraken Futures than usual: you would sell low and buy high (−$56 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.005% in total (about 0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XPLUSD	0.09780	0.4590	pay 0.0574% / 1h	11m 51s	$561K	$995K	10x
Short	Aster XPLUSDT	0.09721	0.0100	get 0.0050% / 4h	1h 11m	$251K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.596%Rate

Funding earned: −$942.95
Price spread: −0.596% → −0.032%: −$56.42
Slippage, 4 orders: −$89.85
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$1,107.22
Costs to cover: 1.079%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; Aster: live order book, 6 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 Kraken Futures live order book, 6 min ago	16.91 bp	39.0 bp −$39	974.9 bp −$9,749	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	4.12 bp	19.4 bp −$19	111.3 bp −$1,113	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	−0.0294%	1h	0.09719	−0.621%	$177K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0232%	1h	0.09712	−0.692%	$565	$708	5x	as long as short
Lighter XPL	−0.0208%	1h	0.09707	−0.743%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0115% / S +0.0508%	1h	0.09716	−0.647%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09718	−0.627%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.589%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09724	−0.570%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09719	−0.620%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09717	−0.641%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0084%	8h	0.09709	−0.720%	$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	0.09712	−0.697%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09731	−0.499%	$62.9M	$47.8M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09721	−0.596%	$251K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09717	−0.642%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09723	−0.584%	$43.9M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09724	−0.570%	$47.9M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09719	−0.621%	$8.9M	$53.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09725	−0.564%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09718	−0.631%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09721	−0.600%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09717	−0.641%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09728	−0.529%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09722	−0.590%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09719	−0.618%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	−0.615%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	−0.508%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09726	−0.549%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.815%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	−0.610%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09720	−0.610%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09723	−0.585%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09723	−0.584%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09704	−0.774%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09730	−0.508%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	−0.201%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.4590%	1h	0.09780	long leg	$561K	$995K	10x