Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: Extended against MEXC−0.069%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.483%−$48 · spread now −0.069%, 7d avg −0.055%

Together, before fees−0.511%+ Points / potential airdropExtended: Active · farm board−$51 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09744	0.0100	pay 0.0050% / 4h	1h 38m	$12.6M	$7.6M	100x
Short	Extended XPL-USD	0.09737	0.0104	get 0.0013% / 1h	38m 36s	$660K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0.84
Price spread: −0.069% → −0.055%: −$1.4
Slippage, 4 orders: −$17.18
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.74
Costs to cover: 0.222%
Break-even: 196.5 days

Slippage from MEXC: live order book, 5 min ago; Extended: live order book, 5 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 MEXC live order book, 5 min ago	0.51 bp	2.0 bp −$2	8.9 bp −$89	97.0 bp −$9,701	237.5 bp −$118.7K
Sell Extended live order book, 5 min ago	2.57 bp	6.9 bp −$7	17.9 bp −$179	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	−0.0309%	1h	0.09749	+0.051%	$178K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09741	−0.031%	$566	$708	5x	as long as short
Lighter XPL	−0.0136%	1h	0.09729	−0.154%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0101% / S +0.0500%	1h	0.09753	+0.091%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0058%	1h	0.09749	+0.051%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09739	−0.052%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.307%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	+0.095%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0078%	4h	0.09747	+0.031%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09740	−0.045%	$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	0.09743	−0.005%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09758	+0.148%	$62.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09741	−0.032%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09743	−0.008%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09740	−0.045%	$43.8M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09741	−0.031%	$47.4M	$54.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09735	−0.092%	$8.9M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.059%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09737	−0.072%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09744	long leg	$12.6M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09745	+0.010%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09746	+0.021%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09738	−0.062%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09747	+0.035%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	−0.139%	$261K	$789K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.041%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09762	+0.181%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.144%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09740	−0.041%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	−0.010%	$138K	$246K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09737	−0.069%	$660K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09749	+0.050%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09752	+0.082%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	0.000%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09734	−0.103%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4587%	1h	0.09786	+0.429%	$515K	$952K	10x	as long as short