Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against MEXC−0.188%7-day average −0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$321as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3243.238% of the position

Long on MEXC Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now −0.188%, 7d avg −0.168%

Together, before fees−0.072%−$7 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: SunX is 0.020% 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 −0.168%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09558	0.0100	pay 0.0050% / 4h	1h 35m	$12.5M	$6.8M	100x
Short	SunX XPL-USDT	0.09540	0.0100	get 0.0050% / 4h	1h 35m	$3K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.188%Rate

Funding earned: $0
Price spread: −0.188% → −0.168%: −$2.02
Slippage, 4 orders: −$315.77
Fee MEXC: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$325.79
Costs to cover: 3.238%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; SunX: live order book, 10 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	2.08 bp	2.6 bp −$3	9.1 bp −$91	90.9 bp −$9,089	231.0 bp −$115.5K
Sell SunX live order book, 10 min ago	36.48 bp	152.7 bp −$153	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	−0.1128%	1h	0.09549	−0.094%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09557	−0.010%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09556	−0.026%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0273%	1h	0.09562	+0.042%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09556	−0.021%	$30K	$272K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09569	+0.119%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.793%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	−0.003%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0054%	8h	0.09564	+0.059%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09562	+0.037%	$1.2M	$2.2M	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	0.09573	+0.155%	$60.5M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09565	+0.072%	$252K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	+0.126%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09557	−0.015%	$43.2M	$97.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09556	−0.021%	$45.5M	$53.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09560	+0.021%	$7.9M	$47.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09595	+0.387%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09558	0.000%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09558	long leg	$12.5M	$6.8M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09567	+0.094%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09567	+0.094%	$8.8M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09555	−0.031%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09555	−0.031%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09540	−0.190%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	+0.230%	$256K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+0.335%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09569	+0.115%	$125K	$1.8M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09540	−0.188%	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09560	+0.021%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09577	+0.199%	$132K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09557	−0.010%	$603K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09560	+0.021%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09570	+0.126%	$194K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09586	+0.293%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.674%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2855%	1h	0.09591	+0.343%	$543K	$935K	10x	as long as short