Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0256%/8h= −28.1% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against KuCoin−0.060%7-day average +0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$690.695% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days+0.127%+$13 · spread now −0.060%, 7d avg +0.089%

Together, before fees+0.085%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Polymarket Perps is 0.148% cheaper against KuCoin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.089%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.042% in total (about -2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09343	0.0100	pay 0.0050% / 4h	11m 21s	$2.2M	$1.2M	50x
Short	Polymarket Perps XPL-USD	0.09337	−0.0156	pay 0.0020% / 1h	11m 21s	$35K	$925K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$53.83
Price spread: −0.060% → +0.089%: −$14.85
Slippage, 4 orders: −$49.45
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$138.13
Costs to cover: 0.695%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Polymarket Perps: live order book, 10 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, 8 min ago	7.49 bp	24.2 bp −$24	69.9 bp −$699	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 10 min ago	0.54 bp	6.5 bp −$6	7.6 bp −$76	doesn't fit	doesn't fit

XPL on 36 exchanges

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
GMX XPL/USD [WBTC.b-USDC]	L −0.0571% / S +0.0766%	1h	0.09342	−0.011%	$103K	—	100x	as long as short
01 Exchange XPLUSD	−0.0472%	1h	0.09328	−0.161%	$542	$832	5x	as long as short
Bybit XPLUSDT	−0.0456%	4h	0.09335	−0.086%	$43.3M	$50.4M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0285%	1h	0.09338	−0.054%	$47K	$14K	25x	as long as short
Lighter XPL	−0.0256%	1h	0.09327	−0.171%	$4.2M	$2.5M	10x	as long as short
Polymarket Perps XPL-USDshort	−0.0156%	1h	0.09337	−0.060%	$35K	$925K	10x
Orderly PERP_XPL_USDC	−0.0155%	4h	0.09336	−0.075%	$29K	$89K	10x	as long as short
Paradex XPL-USD-PERP	−0.0073%	8h	0.09332	−0.118%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0051%	4h	0.09338	−0.057%	$43.0M	$87.4M	75x	as long as short
MEXC XPL_USDT	−0.0050%	4h	0.09339	−0.043%	$12.3M	$6.7M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09343	−0.002%	$9K	$1K	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.970%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09343	−0.001%	$70K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0028%	4h	0.09340	−0.032%	$7.3M	$42.2M	50x	as long as short
Gate XPL_USDT	+0.0034%	4h	0.09344	+0.011%	$2.8M	$2.7M	75x	as long as short
Nado XPL-PERP	+0.0053%	1h	0.09336	−0.070%	$983K	$2.3M	10x	as long as short
Extended XPL-USD	+0.0072%	1h	0.09334	−0.095%	$596K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09335	−0.086%	$28K	$18K	3x	as long as short
Aster XPLUSDT	+0.0087%	4h	0.09349	+0.069%	$241K	$335K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09340	−0.032%	$208K	$49K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09350	+0.070%	$136K	$5K	10x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09343	long leg	$2.2M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09346	+0.032%	$8.8M	$8.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09337	−0.064%	—	$7.6M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09340	−0.032%	$179K	$154K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09348	+0.052%	$1.8M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09342	−0.015%	$250K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09360	+0.182%	$24K	$56K	50x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09320	−0.246%	$2K	$1.3M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09340	−0.032%	$101	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09340	−0.032%	$131K	$165K	20x	as long as short
Hyperliquid XPL	+0.0141%	1h	0.09357	+0.154%	$59.9M	$39.2M	10x	as long as short
Phoenix XPL	+0.0170%	1h	0.09367	+0.257%	$190K	$435K	10x	as long as short
BloFin XPL-USDT	+0.0188%	4h	0.09340	−0.032%	$1.7M	$770K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0608%	1h	0.09455	+1.199%	$63K	$83K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1199%	1h	0.09367	+0.257%	$553K	$974K	10x	as long as short