Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Nado−0.128%7-day average −0.006% · 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−$48as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.128%, 7d avg −0.006%

Together, before fees−0.131%+ Points / potential airdropNado: Active · farm board−$13 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: Binance is 0.122% cheaper against Nado than usual: you would sell low and buy high, −$12 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	Nado XPL-PERP	0.09799	0.0100	pay 0.0012% / 1h	56m 53s	$1.4M	$2.6M	10x
Short	Binance XPLUSDT	0.09787	0.0100	get 0.0050% / 4h	56m 53s	$44.3M	$107.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Nado. 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 NadobpFee BinancebpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.006%: −$12.18
Slippage, 4 orders: −$18.76
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$47.94
Costs to cover: 0.358%
Break-even: 4924780040554255.0 days

Slippage from Nado: live order book, 2 min ago; Binance: live order book, 1 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 Nado live order book, 2 min ago	0.51 bp	9.8 bp −$10	20.2 bp −$202	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.51 bp	9.6 bp −$10	20.6 bp −$206	108.0 bp −$10.8K	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	−0.0336%	1h	0.09786	−0.138%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0296%	1h	0.09795	−0.046%	$569	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0259%	1h	0.09811	+0.117%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0122% / S +0.0513%	1h	0.09810	+0.110%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09799	−0.005%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.747%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09810	+0.107%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0066%	4h	0.09807	+0.077%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0084%	8h	0.09799	−0.009%	$13K	$2K	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09799	long leg	$1.4M	$2.6M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09808	+0.086%	$63.5M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09792	−0.080%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09806	+0.069%	$223K	$46K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09787	−0.128%	$44.3M	$107.4M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09788	−0.117%	$48.1M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09785	−0.148%	$8.9M	$54.4M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09780	−0.199%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09783	−0.168%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09778	−0.219%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09789	−0.107%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09786	−0.138%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09796	−0.036%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09755	−0.452%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09790	−0.097%	$261K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	−0.097%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09815	+0.158%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.097%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.005%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09786	−0.138%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.097%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09779	−0.208%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09819	+0.195%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09800	+0.005%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09785	−0.148%	$198K	$649K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.260%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09853	+0.548%	$567K	$1.0M	10x	as long as short