Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against MEXC−0.008%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.008%, 7d avg +0.057%

Together, before fees+0.093%+ Points / potential airdropNado: Active · farm board+$9 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: Nado is 0.065% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09560	0.0100	pay 0.0050% / 4h	3h 56m	$12.5M	$6.5M	100x
Short	Nado XPL-PERP	0.09559	0.0100	get 0.0012% / 1h	56m 00s	$1.3M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → +0.057%: −$6.46
Slippage, 4 orders: −$16.17
Fee MEXC: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$29.63
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Nado: live order book, 3 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	3.1 bp −$3	11.2 bp −$112	93.4 bp −$9,337	234.2 bp −$117.1K
Sell Nado live order book, 3 min ago	1.04 bp	8.6 bp −$9	22.1 bp −$221	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	−0.1304%	1h	0.09542	−0.188%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0377%	1h	0.09563	+0.031%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0360%	1h	0.09562	+0.021%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09567	+0.072%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0104%	4h	0.09539	−0.220%	$45.4M	$53.9M	75x	as long as short
Paradex XPL-USD-PERP	−0.0060%	8h	0.09577	+0.182%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09560	0.000%	$30K	$277K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09579	+0.194%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.808%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09568	+0.079%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0007%	4h	0.09534	−0.272%	$7.7M	$47.5M	50x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09559	−0.008%	$1.3M	$2.2M	10x
Hyperliquid XPL	+0.0100%	1h	0.09566	+0.058%	$60.5M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09555	−0.052%	$252K	$406K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09585	+0.262%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09540	−0.209%	$43.3M	$97.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	−0.052%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09548	−0.126%	$2.9M	$3.3M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09560	long leg	$12.5M	$6.5M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09564	+0.042%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09542	−0.188%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09547	−0.136%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09555	−0.052%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09567	+0.075%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09556	−0.037%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	0.000%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09575	+0.157%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.209%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	0.000%	$188	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09551	−0.094%	$132K	$210K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09556	−0.042%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09560	0.000%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09574	+0.146%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09580	+0.209%	$1.7M	$932K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.377%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2703%	1h	0.09595	+0.369%	$544K	$942K	10x	as long as short