Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: HTX against KuCoin−0.144%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1561.560% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now −0.144%, 7d avg −0.049%

Together, before fees+0.018%+$2 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: HTX is 0.095% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09700	0.0100	pay 0.0050% / 4h	2h 03m	$2.4M	$1.4M	50x
Short	HTX XPL-USDT	0.09686	0.0100	get 0.0050% / 4h	2h 03m	$137K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.144%Rate

Funding earned: $0
Price spread: −0.144% → −0.049%: −$9.51
Slippage, 4 orders: −$131.97
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$165.49
Costs to cover: 1.560%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; HTX: live order book, 18 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, 3 min ago	15.52 bp	28.6 bp −$29	137.4 bp −$1,374	doesn't fit	doesn't fit
Sell HTX live order book, 18 min ago	15.83 bp	69.4 bp −$69	doesn't fit	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
Backpack XPL_USDC_PERP	−0.0105%	1h	0.09701	+0.010%	$177K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0089% / S +0.0492%	1h	0.09696	−0.040%	$112K	—	100x	as long as short
Lighter XPL	−0.0072%	1h	0.09696	−0.041%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0072%	1h	0.09722	+0.227%	$565	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09698	−0.021%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09705	+0.053%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.953%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09696	−0.042%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09693	−0.072%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09709	+0.090%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09718	+0.183%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09719	+0.199%	$62.4M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09707	+0.070%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09709	+0.091%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09720	+0.208%	$43.8M	$105.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09719	+0.196%	$47.3M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09718	+0.186%	$9.0M	$53.3M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09702	+0.021%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	+0.072%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09700	long leg	$2.4M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09723	+0.237%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09704	+0.041%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09662	−0.391%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09698	−0.019%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.103%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09729	+0.303%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.309%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	0.000%	$202	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09686	−0.144%	$137K	$246K	20x
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.052%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09717	+0.171%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09696	−0.039%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	−0.082%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09705	+0.052%	$196K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09719	+0.196%	$73K	$102K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3511%	1h	0.09741	+0.418%	$513K	$948K	10x	as long as short