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 −0.020%

Price spread now: GRVT against MEXC−0.030%112s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1341.339% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.190%+$19 · spread now −0.030%, 7d avg −0.006%

Together, before fees+0.199%+ Points / potential airdropGRVT: Active · farm board+$20 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: GRVT is 0.024% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.006%. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09917	0.0100	pay 0.0050% / 4h	3h 13m	$13.2M	$7.7M	100x
Short	GRVT XPL_USDT_Perp	0.09914	0.0100	get 0.0050% / 4h	3h 13m	$263K	$844K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → −0.006%: −$2.39
Slippage, 4 orders: −$124.93
Fee MEXC: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$136.32
Costs to cover: 1.339%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; GRVT: live order book, 59 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	0.50 bp	2.8 bp −$3	7.7 bp −$77	92.9 bp −$9,294	228.1 bp −$114.0K
Sell GRVT live order book, 59 min ago	5.15 bp	63.7 bp −$64	94.1 bp −$941	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
01 Exchange XPLUSD	−0.0192%	1h	0.09914	−0.030%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0172% / S +0.0546%	1h	0.09940	+0.236%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0052%	1h	0.09937	+0.202%	$48K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09912	−0.050%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09926	+0.091%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.661%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09938	+0.212%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0020%	4h	0.09932	+0.151%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0044%	8h	0.09923	+0.064%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0092%	4h	0.09915	−0.020%	$8.8M	$56.2M	50x	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	0.09920	+0.033%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09930	+0.132%	$257K	$537K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09929	+0.120%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09922	+0.050%	$45.4M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09918	+0.010%	$48.2M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.474%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09917	0.000%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09917	long leg	$13.2M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09919	+0.020%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09928	+0.111%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09920	+0.030%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09946	+0.292%	$187K	$253K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09912	−0.051%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09914	−0.030%	$263K	$844K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	−0.071%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09936	+0.188%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.071%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09930	+0.131%	$499	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09929	+0.121%	$144K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09919	+0.019%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09940	+0.236%	$30K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09918	+0.010%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0194%	1h	0.09938	+0.211%	$64.5M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09929	+0.121%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.635%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4983%	1h	0.09984	+0.680%	$577K	$1.0M	10x	as long as short