Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against MEXC+0.041%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days−0.180%−$18 · spread now +0.041%, 7d avg +0.094%

Together, before fees−0.201%−$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: Polymarket Perps is 0.052% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09643	0.0100	pay 0.0050% / 4h	2h 19m	$12.4M	$6.9M	100x
Short	Polymarket Perps XPL-USD	0.09647	0.0100	get 0.0013% / 1h	19m 50s	$126K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → +0.094%: −$5.22
Slippage, 4 orders: −$12.42
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$25.64
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Polymarket Perps: live order book, 4 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, 3 min ago	0.52 bp	3.1 bp −$3	8.1 bp −$81	89.3 bp −$8,927	225.3 bp −$112.7K
Sell Polymarket Perps live order book, 4 min ago	2.24 bp	8.7 bp −$9	9.3 bp −$93	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	−0.0272%	1h	0.09629	−0.145%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09643	0.000%	$106K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09640	−0.030%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.488%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09642	−0.010%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09643	0.000%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09636	−0.073%	$29K	$306K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09631	−0.124%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09643	−0.004%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09641	−0.026%	$1.2M	$2.3M	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	0.09657	+0.143%	$61.1M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09647	+0.043%	$254K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09642	−0.009%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09645	+0.021%	$43.7M	$99.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09645	+0.021%	$45.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09645	+0.021%	$8.2M	$48.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	−0.639%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09640	−0.031%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09643	long leg	$12.4M	$6.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09642	−0.010%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09651	+0.083%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09645	+0.021%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09651	+0.083%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.406%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	−0.653%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	−0.757%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09647	+0.041%	$126K	$1.9M	10x
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.239%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.031%	$206	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09617	−0.270%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09644	+0.007%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09635	−0.085%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09582	−0.633%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	−0.239%	$1.7M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09666	+0.239%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2873%	1h	0.09675	+0.333%	$550K	$975K	10x	as long as short