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: GRVT against Nado+0.390%61s7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1171.175% of the position

Long on Nado Short on GRVT

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 4 days (all we have)−0.262%−$26 · spread now +0.390%, 7d avg −0.033%

Together, before fees−0.262%+ Points / potential airdropNado: Active · GRVT: Active · farm board−$26 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: GRVT is 0.423% dearer against Nado than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of −0.033%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09528	0.0100	pay 0.0012% / 1h	51m 53s	$1.2M	$2.7M	10x
Short	GRVT XPL_USDT_Perp	0.09565	0.0100	get 0.0050% / 4h	51m 53s	$262K	$941K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.390%Rate

Funding earned: $0
Price spread: +0.390% → −0.033%: $42.28
Slippage, 4 orders: −$101.45
Fee Nado: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$75.17
Costs to cover: 1.175%
Break-even: 7722730199464598.0 days

Slippage from Nado: live order book, 2 min ago; GRVT: live order book, 6 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	1.57 bp	8.2 bp −$8	19.8 bp −$198	doesn't fit	doesn't fit
Sell GRVT live order book, 6 min ago	5.24 bp	55.8 bp −$56	88.8 bp −$888	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	−0.0344%	1h	0.09517	−0.115%	$553	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0287% / S +0.0600%	1h	0.09528	+0.004%	$105K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0180%	1h	0.09528	0.000%	$176K	$227K	10x	as long as short
Bybit XPLUSDT	−0.0119%	4h	0.09522	−0.063%	$45.1M	$56.0M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0065%	1h	0.09525	−0.031%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09534	+0.062%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.541%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0004%	4h	0.09524	−0.042%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09529	+0.005%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0069%	8h	0.09522	−0.064%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0092%	4h	0.09525	−0.031%	$8.2M	$50.0M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09521	−0.073%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09528	long leg	$1.2M	$2.7M	10x
Hyperliquid XPL	+0.0100%	1h	0.09540	+0.124%	$59.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09533	+0.058%	$242K	$478K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09534	+0.064%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09527	−0.011%	$43.1M	$105.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09534	+0.063%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09538	+0.105%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09529	+0.010%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09534	+0.063%	$8.5M	$10.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09526	−0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	+0.083%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09565	+0.390%	$262K	$941K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.441%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09534	+0.068%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.189%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09530	+0.021%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09565	+0.388%	$143K	$238K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.388%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09537	+0.094%	$647K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09525	−0.031%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09568	+0.420%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09562	+0.357%	$1.7M	$993K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.819%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3334%	1h	0.09569	+0.430%	$542K	$978K	10x	as long as short