Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against KuCoin+0.796%68s7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1701.696% of the position

Long on KuCoin Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.334%−$33 · spread now +0.796%, 7d avg −0.034%

Together, before fees−0.334%+ Points / potential airdropGRVT: Active · farm board−$33 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: GRVT is 0.830% dearer against KuCoin than usual: you sell high and buy low, +$83 on $10k if it goes back to its 7-day average of −0.034%. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09593	0.0100	pay 0.0050% / 4h	26m 22s	$2.3M	$1.4M	50x
Short	GRVT XPL_USDT_Perp	0.09669	0.0100	get 0.0050% / 4h	26m 22s	$262K	$975K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.796%Rate

Funding earned: $0
Price spread: +0.796% → −0.034%: $82.95
Slippage, 4 orders: −$148.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$86.65
Costs to cover: 1.696%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; GRVT: live order book, 32 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	6.74 bp	38.6 bp −$39	145.7 bp −$1,457	doesn't fit	doesn't fit
Sell GRVT live order book, 32 min ago	5.24 bp	55.8 bp −$56	88.8 bp −$888	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
01 Exchange XPLUSD	−0.0384%	1h	0.09595	+0.021%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0308% / S +0.0613%	1h	0.09609	+0.172%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09609	+0.167%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0079%	4h	0.09620	+0.281%	$45.6M	$54.7M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09615	+0.226%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.082%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09612	+0.200%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09617	+0.250%	$29K	$339K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0076%	1h	0.09612	+0.198%	$178K	$223K	10x	as long as short
Paradex XPL-USD-PERP	+0.0080%	8h	0.09610	+0.177%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09603	+0.104%	$4.3M	$3.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09621	+0.289%	$60.6M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09611	+0.186%	$241K	$460K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09612	+0.197%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09606	+0.136%	$43.7M	$103.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09618	+0.261%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09550	−0.448%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09605	+0.125%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09603	+0.104%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09593	long leg	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09611	+0.188%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09610	+0.177%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09656	+0.655%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09669	+0.796%	$262K	$975K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.490%	$25K	$78K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09603	+0.109%	$1.2M	$2.7M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09614	+0.224%	$124K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	+0.177%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	+0.177%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09612	+0.198%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09600	+0.069%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+0.281%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09643	+0.521%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09595	+0.021%	$1.7M	$989K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.865%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3306%	1h	0.09649	+0.582%	$547K	$975K	10x	as long as short