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: SunX against KuCoin−0.408%7-day average −0.195% · you buy dearer than you sell

Net, funding: paid 7d − costs−$342as in the Funding arb table

Net, price: spread back to 7d avg − costs−$363as in the Price arb table

costs, in and out, $10k−$3423.420% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.138%+$14 · spread now −0.408%, 7d avg −0.195%

Together, before fees+0.138%+$14 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: SunX is 0.213% cheaper against KuCoin than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.195%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09810	0.0100	pay 0.0050% / 4h	3h 37m	$2.4M	$1.5M	50x
Short	SunX XPL-USDT	0.09770	0.0100	get 0.0050% / 4h	3h 37m	$3K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.408%Rate

Funding earned: $0
Price spread: −0.408% → −0.195%: −$21.27
Slippage, 4 orders: −$321.99
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$363.26
Costs to cover: 3.420%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; SunX: live order book, 9 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, 10 min ago	8.22 bp	25.1 bp −$25	126.1 bp −$1,261	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	30.90 bp	139.3 bp −$139	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	−0.0192%	1h	0.09811	+0.010%	$181K	$282K	10x	as long as short
Lighter XPL	−0.0168%	1h	0.09795	−0.153%	$4.4M	$4.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0161% / S +0.0539%	1h	0.09807	−0.028%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0160%	1h	0.09800	−0.102%	$570	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09784	−0.262%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.829%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09807	−0.031%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09806	−0.039%	$76K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09803	−0.071%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0038%	8h	0.09789	−0.210%	$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	0.09803	−0.066%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09828	+0.183%	$63.4M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09809	−0.006%	$254K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09800	−0.106%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09815	+0.055%	$44.8M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09817	+0.071%	$47.5M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09812	+0.020%	$8.7M	$55.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.456%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09806	−0.041%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09817	+0.071%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09810	long leg	$2.4M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09819	+0.092%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09813	+0.031%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09780	−0.306%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.431%	$258K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	−0.408%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09816	+0.059%	$131K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09770	−0.408%	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.102%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09790	−0.204%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09813	+0.030%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09805	−0.047%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09791	−0.194%	$198K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09802	−0.082%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09824	+0.143%	$73K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5050%	1h	0.09852	+0.424%	$571K	$1.0M	10x	as long as short