Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0636%/8h= −69.6% APRpaid last 24h −0.084%

Price spread now: 01 Exchange against KuCoin−0.084%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and 01 Exchange is 0.084% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09508	0.0100	pay 0.0050% / 4h	2h 19m	$2.4M	$1.3M	50x
Short	01 Exchange XPLUSD	0.09500	−0.0536	pay 0.0067% / 1h	19m 49s	$552	$873	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.084%Rate

Funding earned: −$133.56
Price spread: −0.084% → 0.000%: −$8.41
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$160.97
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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, 5 min ago	10.01 bp	28.0 bp −$28	152.5 bp −$1,525	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Lighter XPL	−0.0968%	1h	0.09491	−0.179%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSDshort	−0.0536%	1h	0.09500	−0.084%	$552	$873	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0376% / S +0.0653%	1h	0.09507	−0.015%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0301%	4h	0.09496	−0.126%	$44.8M	$53.2M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0276%	1h	0.09503	−0.053%	$47K	$18K	25x	as long as short
Extended XPL-USD	−0.0200%	1h	0.09495	−0.136%	$601K	$1.2M	25x	as long as short
Paradex XPL-USD-PERP	−0.0139%	8h	0.09500	−0.080%	$12K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0096%	4h	0.09500	−0.084%	$7.6M	$47.1M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0067%	4h	0.09499	−0.095%	$30K	$195K	10x	as long as short
Gate XPL_USDT	−0.0046%	4h	0.09497	−0.116%	$2.9M	$3.4M	75x	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	0.09520	+0.121%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.375%	—	—	—	as long as short
Binance XPLUSDT	+0.0001%	4h	0.09497	−0.116%	$43.5M	$96.8M	75x	as long as short
MEXC XPL_USDT	+0.0002%	4h	0.09496	−0.126%	$13.5M	$6.5M	100x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09507	−0.008%	$72K	—	150x	as long as short
BloFin XPL-USDT	+0.0013%	4h	0.09501	−0.074%	$1.7M	$810K	75x	as long as short
Aevo XPL-PERP	+0.0080%	1h	0.09500	−0.084%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09503	−0.047%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09514	+0.067%	$60.3M	$42.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09508	−0.002%	$253K	$379K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09514	+0.061%	$218K	$45K	10x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09508	long leg	$2.4M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09508	0.000%	$8.9M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09498	−0.105%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09506	−0.021%	$179K	$172K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09496	−0.131%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09508	+0.003%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.126%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09513	+0.058%	$125K	$1.4M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.084%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09500	−0.084%	$182	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09503	−0.053%	$132K	$211K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09515	+0.074%	$139K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09508	0.000%	$192K	$474K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0648%	1h	0.09736	+2.398%	$65K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1852%	1h	0.09525	+0.183%	$542K	$984K	10x	as long as short