Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h +0.001%

Price spread now: Extended against KuCoin+0.017%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$830.834% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days−0.025%−$3 · spread now +0.017%, 7d avg −0.063%

Together, before fees−0.054%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.080% dearer against KuCoin than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.063%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.029% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09637	0.0100	pay 0.0050% / 4h	3h 11m	$2.3M	$1.3M	50x
Short	Extended XPL-USD	0.09639	0.0008	get 0.0001% / 1h	11m 24s	$610K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$19.32
Price spread: +0.017% → −0.063%: $7.96
Slippage, 4 orders: −$66.38
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$94.74
Costs to cover: 0.834%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Extended: live order book, 2 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, 5 min ago	6.76 bp	28.8 bp −$29	148.0 bp −$1,480	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	3.64 bp	7.1 bp −$7	22.9 bp −$229	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
Lighter XPL	−0.1104%	1h	0.09626	−0.114%	$4.4M	$3.2M	10x	as long as short
Bybit XPLUSDT	−0.0461%	4h	0.09641	+0.042%	$45.7M	$54.1M	75x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09632	−0.052%	$560	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09632	−0.055%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09636	−0.010%	$46K	$16K	25x	as long as short
Paradex XPL-USD-PERP	−0.0123%	8h	0.09640	+0.026%	$13K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0069%	4h	0.09636	−0.010%	$7.7M	$48.0M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09631	−0.062%	$30K	$235K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09639	+0.025%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.440%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09648	+0.119%	$73K	—	150x	as long as short
Extended XPL-USDshort	+0.0008%	1h	0.09639	+0.017%	$610K	$1.2M	25x
Gate XPL_USDT	+0.0056%	4h	0.09638	+0.010%	$2.9M	$3.3M	75x	as long as short
Binance XPLUSDT	+0.0087%	4h	0.09644	+0.073%	$44.1M	$98.3M	75x	as long as short
MEXC XPL_USDT	+0.0088%	4h	0.09644	+0.073%	$13.3M	$6.6M	100x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09635	−0.021%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09659	+0.226%	$61.1M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09649	+0.120%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09648	+0.111%	$220K	$47K	10x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09637	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09651	+0.145%	$9.2M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09641	+0.042%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09636	−0.010%	$183K	$178K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09613	−0.253%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09608	−0.302%	$257K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.073%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09651	+0.145%	$126K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.280%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	−0.073%	$189	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09606	−0.322%	$133K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09570	−0.695%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09627	−0.108%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09627	−0.104%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0330%	4h	0.09607	−0.311%	$1.7M	$954K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09640	+0.031%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2686%	1h	0.09657	+0.209%	$549K	$968K	10x	as long as short