Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against KuCoin−0.085%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$820.821% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.384%+$38 · spread now −0.085%, 7d avg −0.016%

Together, before fees+0.383%+ Points / potential airdropNado: Active · farm board+$38 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: Nado is 0.069% cheaper against KuCoin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09709	0.0100	pay 0.0050% / 4h	1h 27m	$2.4M	$1.4M	50x
Short	Nado XPL-PERP	0.09701	0.0100	get 0.0012% / 1h	27m 22s	$1.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.016%: −$6.88
Slippage, 4 orders: −$63.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$88.95
Costs to cover: 0.821%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Nado: live order book, 1 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, 4 min ago	7.74 bp	29.6 bp −$30	162.7 bp −$1,627	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	2.05 bp	8.0 bp −$8	26.5 bp −$265	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	−0.0358%	1h	0.09705	−0.041%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09708	−0.010%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09695	−0.144%	$564	$708	5x	as long as short
Lighter XPL	−0.0200%	1h	0.09682	−0.278%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0107% / S +0.0503%	1h	0.09708	−0.008%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09702	−0.069%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.027%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09707	−0.018%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0073%	4h	0.09706	−0.031%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0084%	8h	0.09686	−0.235%	$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-PERPshort	+0.0100%	1h	0.09701	−0.085%	$1.4M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09716	+0.070%	$62.8M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09715	+0.060%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09698	−0.113%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09702	−0.073%	$43.7M	$106.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09702	−0.072%	$47.1M	$54.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09701	−0.082%	$8.8M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.215%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09699	−0.103%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09704	−0.051%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09709	long leg	$2.4M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09714	+0.051%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09701	−0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	−0.162%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.114%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.216%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09717	+0.082%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.196%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.093%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09713	+0.041%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09704	−0.054%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09714	+0.053%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09709	0.000%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09712	+0.031%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.525%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4603%	1h	0.09752	+0.444%	$560K	$989K	10x	as long as short