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% APRpaid last 24h −0.001%

Price spread now: BingX against Nado−0.057%7-day average −0.066% · 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−$44as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.073%+$7 · spread now −0.057%, 7d avg −0.066%

Together, before fees+0.072%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09663	0.0100	pay 0.0012% / 1h	2m 27s	$1.2M	$2.6M	10x
Short	BingX XPL-USDT	0.09658	0.0100	get 0.0050% / 4h	2m 27s	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.066%: $0.9
Slippage, 4 orders: −$27.42
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$43.51
Costs to cover: 0.444%
Break-even: 397373392759853.4 days

Slippage from Nado: live order book, 1 min ago; BingX: live order book, 11 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, 1 min ago	1.03 bp	6.8 bp −$7	17.8 bp −$178	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	5.70 bp	13.9 bp −$14	23.9 bp −$239	79.3 bp −$7,927	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	−0.0384%	1h	0.09651	−0.129%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09665	+0.019%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09662	−0.016%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0147%	1h	0.09664	+0.005%	$178K	$224K	10x	as long as short
Bybit XPLUSDT	−0.0093%	4h	0.09658	−0.057%	$45.7M	$54.6M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09662	−0.020%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.655%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09664	+0.009%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0018%	4h	0.09658	−0.057%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09660	−0.032%	$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
Gate XPL_USDT	+0.0084%	4h	0.09655	−0.088%	$3.0M	$3.6M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09648	−0.160%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09663	long leg	$1.2M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09667	+0.040%	$61.0M	$46.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09663	−0.009%	$251K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09662	−0.014%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09659	−0.047%	$43.9M	$102.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09663	−0.005%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09631	−0.333%	$140K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09651	−0.129%	$12.5M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09646	−0.181%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09671	+0.078%	$8.8M	$10.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09658	−0.057%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09643	−0.214%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09651	−0.129%	$260K	$993K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	−0.243%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09675	+0.115%	$126K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.243%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.036%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09639	−0.254%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09653	−0.111%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09660	−0.036%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09670	+0.067%	$196K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09655	−0.088%	$1.7M	$985K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09698	+0.357%	$75K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3290%	1h	0.09697	+0.347%	$550K	$977K	10x	as long as short