Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against MEXC+0.036%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. dYdX is 0.036% dearer against MEXC than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09789	0.0100	pay 0.0050% / 4h	2h 23m	$12.8M	$7.7M	100x
Short	dYdX XPL-USD	0.09793	0	get 0.0000% / 1h	23m 28s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$21
Price spread: +0.036% → 0.000%: $3.59
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$27.41
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; dYdX: 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 MEXC live order book, 5 min ago	0.51 bp	0.5 bp −$1	4.6 bp −$46	81.2 bp −$8,115	230.4 bp −$115.2K
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0080% / S +0.0486%	1h	0.09792	+0.035%	$113K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09781	−0.082%	$4.4M	$4.3M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09804	+0.153%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09791	+0.020%	$569	$582	5x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09793	+0.036%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.662%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09792	+0.029%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0026%	1h	0.09803	+0.143%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09794	+0.051%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09790	+0.005%	$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	0.09792	+0.031%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09805	+0.160%	$63.0M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09795	+0.060%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09793	+0.040%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09790	+0.010%	$44.2M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09789	0.000%	$47.8M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09787	−0.020%	$9.1M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.501%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09794	+0.051%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09789	long leg	$12.8M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09785	−0.041%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09793	+0.041%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09789	0.000%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09812	+0.237%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09807	+0.183%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.215%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09800	+0.117%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.092%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.112%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09794	+0.051%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09788	−0.013%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09801	+0.125%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09811	+0.225%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09825	+0.368%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.439%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3470%	1h	0.09854	+0.665%	$519K	$941K	10x	as long as short