Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against MEXC+0.073%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)−0.898%−$90 · spread now +0.073%, 7d avg −0.016%

Together, before fees−0.751%−$75 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: HTX is 0.089% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09551	0.0100	pay 0.0050% / 4h	3h 46m	$12.5M	$6.5M	100x
Short	HTX XPL-USDT	0.09558	0.0100	get 0.0050% / 4h	3h 46m	$132K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → −0.016%: $8.91
Slippage, 4 orders: −$64.17
Fee MEXC: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$67.26
Costs to cover: 0.762%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; HTX: live order book, 50 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, 2 min ago	0.52 bp	2.6 bp −$3	8.7 bp −$87	91.7 bp −$9,171	233.1 bp −$116.6K
Sell HTX live order book, 50 min ago	18.90 bp	43.1 bp −$43	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
Lighter XPL	−0.1368%	1h	0.09542	−0.094%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09549	−0.021%	$555	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0378%	1h	0.09553	+0.021%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0239%	4h	0.09549	−0.021%	$45.4M	$54.0M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09557	+0.064%	$106K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0083%	8h	0.09550	−0.006%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09549	−0.021%	$30K	$271K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0012%	4h	0.09551	0.000%	$7.7M	$47.6M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09560	+0.093%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.734%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	+0.075%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09553	+0.026%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09566	+0.160%	$60.5M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09560	+0.091%	$252K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09564	+0.133%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09549	−0.021%	$43.4M	$97.8M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09562	+0.115%	$2.9M	$3.3M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09551	long leg	$12.5M	$6.5M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09549	−0.021%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09563	+0.126%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09549	−0.021%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09556	+0.052%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09553	+0.020%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09540	−0.113%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.094%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09560	+0.094%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.115%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.010%	$190	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09558	+0.073%	$132K	$210K	20x
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.111%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09550	−0.010%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09550	−0.010%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09563	+0.126%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09569	+0.188%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.471%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2703%	1h	0.09595	+0.461%	$544K	$943K	10x	as long as short