Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.049%

Price spread now: 01 Exchange against MEXC−0.061%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.061% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09814	0.0100	pay 0.0050% / 4h	2h 25m	$12.8M	$7.7M	100x
Short	01 Exchange XPLUSD	0.09808	−0.0016	pay 0.0002% / 1h	25m 45s	$570	$582	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.061%Rate

Funding earned: −$24.36
Price spread: −0.061% → 0.000%: −$6.11
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$37.47
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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	0.51 bp	0.5 bp −$1	4.6 bp −$46	81.2 bp −$8,115	230.4 bp −$115.2K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
GMX XPL/USD [WBTC.b-USDC]	L −0.0078% / S +0.0485%	1h	0.09814	−0.005%	$113K	—	100x	as long as short
Lighter XPL	−0.0064%	1h	0.09801	−0.132%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSDshort	−0.0016%	1h	0.09808	−0.061%	$570	$582	5x
dYdX XPL-USD	0.0000%	1h	0.09812	−0.018%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.859%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09816	+0.020%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09814	−0.001%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0019%	1h	0.09818	+0.041%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09811	−0.031%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09804	−0.099%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09806	−0.076%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09828	+0.138%	$63.2M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09814	+0.004%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09818	+0.041%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09814	−0.003%	$44.3M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09811	−0.031%	$47.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09809	−0.051%	$9.1M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.754%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09807	−0.071%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09814	long leg	$12.8M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09808	−0.061%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09816	+0.020%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09813	−0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09744	−0.713%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.653%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.550%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09818	+0.041%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.245%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09820	+0.061%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09798	−0.163%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09809	−0.055%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09814	+0.003%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09791	−0.234%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09791	−0.234%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.183%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3468%	1h	0.09861	+0.475%	$519K	$940K	10x	as long as short