Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin+0.021%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$870.868% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.021%, 7d avg −0.018%

Together, before fees−0.015%−$2 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: BingX is 0.038% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09557	0.0100	pay 0.0050% / 4h	3h 58m	$2.3M	$1.2M	50x
Short	BingX XPL-USDT	0.09559	0.0100	get 0.0050% / 4h	3h 58m	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.018%: $3.85
Slippage, 4 orders: −$64.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$82.96
Costs to cover: 0.868%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; BingX: live order book, 9 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 KuCoin live order book, 8 min ago	9.94 bp	28.3 bp −$28	149.7 bp −$1,497	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	5.23 bp	15.6 bp −$16	26.0 bp −$260	85.3 bp −$8,527	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	−0.1568%	1h	0.09540	−0.178%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09549	−0.084%	$555	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09561	+0.045%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0168%	1h	0.09559	+0.021%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0054%	8h	0.09559	+0.022%	$12K	$696	5x	as long as short
Backpack XPL_USDC_PERP	−0.0026%	1h	0.09558	+0.010%	$179K	$180K	10x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09554	−0.031%	$30K	$277K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09571	+0.147%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.783%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09563	+0.063%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0012%	4h	0.09562	+0.052%	$7.7M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09552	−0.047%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09572	+0.153%	$60.5M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09568	+0.116%	$253K	$406K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09568	+0.119%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09562	+0.052%	$43.3M	$97.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09563	+0.063%	$45.5M	$53.9M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09563	+0.065%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09556	−0.010%	$2.9M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09556	−0.010%	$12.4M	$6.5M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09557	long leg	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09566	+0.094%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09559	+0.021%	—	$7.8M	—
Variational Omni XPL	+0.0100%	4h	0.09567	+0.107%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09565	+0.086%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09580	+0.241%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09562	+0.052%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.283%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.073%	$195	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09525	−0.335%	$131K	$212K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09553	−0.040%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	−0.120%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09576	+0.199%	$194K	$493K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09554	−0.031%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.408%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2705%	1h	0.09589	+0.338%	$541K	$940K	10x	as long as short