Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin−0.165%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$890.888% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.177%+$18 · spread now −0.165%, 7d avg −0.006%

Together, before fees+0.124%+$12 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: OKX is 0.159% cheaper against KuCoin than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09698	0.0100	pay 0.0050% / 4h	3h 29m	$2.3M	$1.4M	50x
Short	OKX XPL-USDT-SWAP	0.09682	0.0100	get 0.0050% / 4h	3h 29m	$8.2M	$48.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.165%Rate

Funding earned: $0
Price spread: −0.165% → −0.006%: −$15.92
Slippage, 4 orders: −$66.82
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$104.73
Costs to cover: 0.888%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; OKX: live order book, 4 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, 2 min ago	9.26 bp	28.5 bp −$29	131.5 bp −$1,315	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.52 bp	11.4 bp −$11	37.6 bp −$376	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	−0.0376%	1h	0.09696	−0.021%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09701	+0.033%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09699	+0.010%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0058%	1h	0.09699	+0.010%	$177K	$188K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09700	+0.023%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.934%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09702	+0.037%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09695	−0.031%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09679	−0.200%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09684	−0.144%	$4.4M	$3.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XPLUSDT	+0.0098%	4h	0.09684	−0.144%	$45.8M	$54.2M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09701	+0.036%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09705	+0.075%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09700	+0.017%	$253K	$424K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09697	−0.007%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09686	−0.123%	$44.0M	$101.2M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09682	−0.165%	$8.2M	$48.8M	50x
Gate XPL_USDT	+0.0100%	4h	0.09691	−0.072%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09688	−0.103%	$12.8M	$7.0M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09698	long leg	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09692	−0.062%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09689	−0.093%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09720	+0.225%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09683	−0.156%	$256K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.124%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09709	+0.108%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.186%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.021%	$202	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09687	−0.113%	$142K	$192K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	−0.186%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09683	−0.158%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09700	+0.021%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+0.113%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	+0.082%	$1.7M	$968K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.247%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3093%	1h	0.09737	+0.400%	$554K	$990K	10x	as long as short