Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against KuCoin+0.060%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 dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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. dYdX is 0.060% dearer against KuCoin than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09658	0.0100	pay 0.0050% / 4h	2h 12m	$2.3M	$1.3M	50x
Short	dYdX XPL-USD	0.09664	0	get 0.0000% / 1h	12m 32s	$9K	$600	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$21
Price spread: +0.060% → 0.000%: $5.96
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$37.04
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; dYdX: 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, 4 min ago	7.78 bp	35.2 bp −$35	147.0 bp −$1,470	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
01 Exchange XPLUSD	−0.0272%	1h	0.09667	+0.093%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0267%	1h	0.09658	0.000%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09663	+0.054%	$107K	—	100x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09664	+0.060%	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.610%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09662	+0.042%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09656	−0.021%	$29K	$305K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09658	0.000%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0065%	8h	0.09665	+0.068%	$13K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09680	+0.223%	$61.1M	$46.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09673	+0.151%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09672	+0.148%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09663	+0.057%	$43.8M	$99.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09664	+0.062%	$45.8M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09667	+0.093%	$8.1M	$48.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09661	+0.033%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09667	+0.093%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09666	+0.083%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09658	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09674	+0.166%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09666	+0.083%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09668	+0.104%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09638	−0.208%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09635	−0.240%	$257K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	−0.186%	$25K	$77K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	+0.083%	$1.2M	$2.3M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09679	+0.213%	$127K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.186%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.083%	$206	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09639	−0.197%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09664	+0.063%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09654	−0.043%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09657	−0.010%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09660	+0.021%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09656	−0.021%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2870%	1h	0.09688	+0.310%	$550K	$958K	10x	as long as short