Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0708%/8h= +77.5% APRpaid last 24h +0.193%

Price spread now: Coinbase International against KuCoin+0.515%51s7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Coinbase International is 0.515% dearer against KuCoin than usual: you sell high and buy low: +$51 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.055% in total (about 2.9% 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	KuCoin XPLUSDTM	0.09518	0.0100	pay 0.0050% / 4h	23m 25s	$2.3M	$1.2M	50x
Short	Coinbase International XPL-PERP-INTX	0.09567	0.0808	get 0.0101% / 1h	23m 25s	$64K	$91K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.515%Rate

Funding earned: $148.68
Price spread: +0.515% → 0.000%: $51.48
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $178.16
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 3 min ago; Coinbase International: 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 KuCoin live order book, 3 min ago	11.55 bp	34.7 bp −$35	155.9 bp −$1,559	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1464%	1h	0.09499	−0.200%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0512%	1h	0.09508	−0.105%	$553	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09518	0.000%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09520	+0.025%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0039%	8h	0.09510	−0.089%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09519	+0.011%	$30K	$290K	10x	as long as short
Bybit XPLUSDT	−0.0016%	4h	0.09518	0.000%	$45.3M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09520	+0.022%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.461%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09528	+0.101%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XPL-USD	+0.0064%	1h	0.09515	−0.032%	$598K	$1.2M	25x	as long as short
OKX XPL-USDT-SWAP	+0.0069%	4h	0.09518	0.000%	$7.7M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09519	+0.013%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09529	+0.113%	$60.2M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09534	+0.170%	$252K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09525	+0.074%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09519	+0.013%	$43.1M	$97.9M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09548	+0.317%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09522	+0.042%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09522	+0.042%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09518	long leg	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09532	+0.147%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09518	0.000%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09521	+0.032%	$178K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	−0.024%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09517	−0.006%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.021%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09529	+0.113%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09490	−0.294%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	−0.084%	$193	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09524	+0.063%	$132K	$212K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09514	−0.043%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09543	+0.263%	$193K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09519	+0.011%	$1.7M	$921K	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0808%	1h	0.09567	+0.515%	$64K	$91K	50x
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09625	+1.122%	$544K	$932K	10x	as long as short