Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0491%/8h= −53.8% APRpaid last 24h −0.076%

Price spread now: Deribit against KuCoin+0.054%7-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 Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.054% dearer against KuCoin than usual: you sell high and buy low (spread +0.054% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09343	0.0100	pay 0.0050% / 4h	1h 30m	$2.3M	$1.5M	50x
Short	Deribit XPL_USDC-PERPETUAL	0.09348	−0.0391	pay 0.0049% / 1h	30m 38s	$46K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$103.2
Price spread: +0.054% → 0.000%: $5.35
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$116.85
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 9 min ago; Deribit: 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, 9 min ago	5.84 bp	15.2 bp −$15	92.6 bp −$926	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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 exchanges

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
01 Exchange XPLUSD	−0.0936%	1h	0.09308	−0.375%	$541	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0448% / S +0.0694%	1h	0.09351	+0.088%	$103K	—	100x	as long as short
Lighter XPL	−0.0408%	1h	0.09335	−0.086%	$4.2M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0391%	1h	0.09348	+0.054%	$46K	$18K	25x
Bybit XPLUSDT	−0.0348%	4h	0.09312	−0.332%	$43.6M	$54.6M	75x	as long as short
Paradex XPL-USD-PERP	−0.0115%	8h	0.09319	−0.259%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0112%	4h	0.09341	−0.021%	$30K	$149K	10x	as long as short
Extended XPL-USD	−0.0104%	1h	0.09319	−0.256%	$589K	$1.1M	25x	as long as short
Backpack XPL_USDC_PERP	−0.0095%	1h	0.09348	+0.054%	$187K	$175K	10x	as long as short
Binance XPLUSDT	−0.0068%	4h	0.09340	−0.030%	$42.7M	$98.5M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0068%	4h	0.09318	−0.268%	$12.6M	$6.6M	100x	as long as short
OKX XPL-USDT-SWAP	−0.0022%	4h	0.09319	−0.257%	$7.1M	$47.6M	50x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.970%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09329	−0.148%	$70K	—	150x	as long as short
Gate XPL_USDT	+0.0028%	4h	0.09320	−0.246%	$2.8M	$3.3M	75x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09340	−0.032%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09341	−0.016%	$1.2M	$2.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09347	+0.041%	$58.4M	$43.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09342	−0.012%	$242K	$385K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09340	−0.032%	$209K	$51K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09380	+0.391%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09343	long leg	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09329	−0.150%	$8.7M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09319	−0.257%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09346	+0.035%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09311	−0.340%	$246K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09340	−0.032%	$24K	$67K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09351	+0.087%	$43K	$1.3M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09340	−0.032%	$2K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09340	−0.032%	$177	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09276	−0.717%	$131K	$217K	20x	as long as short
dYdX XPL-USD	+0.0131%	1h	0.09325	−0.189%	$9K	$1K	5x	as long as short
BloFin XPL-USDT	+0.0172%	4h	0.09342	−0.011%	$1.7M	$853K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09340	−0.032%	$189K	$435K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09333	−0.107%	$62K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1365%	1h	0.09370	+0.294%	$552K	$1.0M	10x	as long as short