Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: HTX against Nado−0.103%7-day average −0.015% · 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−$107as in the Price arb table

costs, in and out, $10k−$980.980% of the position

Long on Nado Short on HTX

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 4 days (all we have)−0.221%−$22 · spread now −0.103%, 7d avg −0.015%

Together, before fees−0.222%+ Points / potential airdropNado: Active · farm board−$22 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: HTX is 0.088% cheaper against Nado than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09687	0.0100	pay 0.0012% / 1h	52m 35s	$1.2M	$2.6M	10x
Short	HTX XPL-USDT	0.09677	0.0100	get 0.0050% / 4h	3h 52m	$142K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → −0.015%: −$8.78
Slippage, 4 orders: −$79.04
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$106.82
Costs to cover: 0.980%
Break-even: 975500580489011.6 days

Slippage from Nado: live order book, 6 min ago; HTX: live order book, 64 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, 6 min ago	1.03 bp	6.8 bp −$7	17.3 bp −$173	doesn't fit	doesn't fit
Sell HTX live order book, 64 min ago	11.53 bp	54.9 bp −$55	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
01 Exchange XPLUSD	−0.0448%	1h	0.09702	+0.155%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09695	+0.085%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0156%	1h	0.09706	+0.196%	$179K	$199K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09701	+0.142%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.845%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09701	+0.145%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09695	+0.087%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09694	+0.072%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09699	+0.129%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09692	+0.052%	$4.4M	$3.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERPlong	+0.0100%	1h	0.09687	long leg	$1.2M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09707	+0.212%	$61.3M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09707	+0.208%	$253K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09700	+0.134%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09697	+0.103%	$44.0M	$102.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09694	+0.072%	$45.9M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09695	+0.083%	$8.3M	$49.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	−0.176%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09694	+0.072%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09696	+0.093%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09685	−0.021%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09712	+0.258%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09702	+0.155%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09661	−0.270%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09665	−0.228%	$260K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	+0.031%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09700	+0.138%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.175%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.134%	$203	$12K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09677	−0.103%	$142K	$206K	20x
Extended XPL-USD	+0.0104%	1h	0.09698	+0.112%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09705	+0.181%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09681	−0.062%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09691	+0.041%	$1.8M	$989K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.485%	$75K	$85K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3094%	1h	0.09736	+0.506%	$552K	$974K	10x	as long as short