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 0.000%

Price spread now: OKX against MEXC−0.051%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days+0.067%+$7 · spread now −0.051%, 7d avg +0.006%

Together, before fees+0.027%+$3 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: OKX is 0.057% 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 +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09792	0.0100	pay 0.0050% / 4h	3h 58m	$12.9M	$7.6M	100x
Short	OKX XPL-USDT-SWAP	0.09787	0.0100	get 0.0050% / 4h	3h 58m	$8.7M	$55.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.006%: −$5.68
Slippage, 4 orders: −$18.3
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.99
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; OKX: 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	3.3 bp −$3	7.8 bp −$78	81.9 bp −$8,191	230.5 bp −$115.3K
Sell OKX live order book, 5 min ago	0.51 bp	8.1 bp −$8	33.3 bp −$333	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	−0.0312%	1h	0.09782	−0.102%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0158%	1h	0.09795	+0.031%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0151% / S +0.0532%	1h	0.09795	+0.033%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09791	−0.010%	$569	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09799	+0.068%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.689%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09798	+0.058%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0023%	8h	0.09794	+0.020%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0035%	4h	0.09793	+0.010%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09788	−0.043%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09806	+0.144%	$63.3M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09797	+0.051%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09798	+0.063%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09793	+0.010%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09788	−0.041%	$47.5M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09787	−0.051%	$8.7M	$55.3M	50x
Bulk XPL-USD	+0.0100%	1h	0.09796	+0.036%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09797	+0.051%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09792	long leg	$12.9M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09790	−0.020%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09797	+0.051%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09792	0.000%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09797	+0.051%	$181K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09787	−0.049%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09788	−0.036%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.082%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09800	+0.079%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.225%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	−0.020%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09797	+0.051%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09794	+0.019%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09799	+0.068%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09812	+0.204%	$199K	$650K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09795	+0.031%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09804	+0.123%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5053%	1h	0.09846	+0.550%	$569K	$1.0M	10x	as long as short