Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: MEXC against Nado−0.008%51s7-day average −0.009% · 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—prices read too far apart to compare

costs, in and out, $10k−$240.236% of the position

Long on Nado Short on MEXC

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)−1.015%−$101 · spread now −0.008%, 7d avg −0.009%

Together, before fees−1.014%+ Points / potential airdropNado: Active · farm board−$101 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	0.09674	0.0100	pay 0.0012% / 1h	25m 36s	$1.2M	$2.8M	10x
Short	MEXC XPL_USDT	0.09673	0.0100	get 0.0050% / 4h	2h 25m	$12.7M	$7.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → −0.009%: $0.17
Slippage, 4 orders: −$16.61
Fee Nado: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$23.44
Costs to cover: 0.236%
Break-even: 214038632347209.5 days

Slippage from Nado: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago	1.55 bp	8.5 bp −$9	22.9 bp −$229	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.51 bp	3.6 bp −$4	20.4 bp −$204	104.8 bp −$10.5K	238.2 bp −$119.1K

XPL on 35 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
Deribit XPL_USDC-PERPETUAL	−0.0473%	1h	0.09673	−0.008%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0232%	1h	0.09663	−0.111%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0197% / S +0.0561%	1h	0.09679	+0.058%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0101%	1h	0.09680	+0.065%	$179K	$245K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09672	−0.023%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.739%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09675	+0.013%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09680	+0.065%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0053%	4h	0.09675	+0.013%	$8.3M	$54.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0060%	8h	0.09670	−0.040%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09661	−0.132%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09674	long leg	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09679	+0.056%	$61.9M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09683	+0.095%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09673	−0.006%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09668	−0.059%	$44.0M	$110.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09668	−0.059%	$46.6M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.016%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09670	−0.039%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09673	−0.008%	$12.7M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09654	−0.204%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09676	+0.023%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09674	+0.003%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09672	−0.019%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	+0.055%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.271%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09685	+0.113%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.039%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.039%	$197	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09669	−0.049%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09671	−0.032%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09675	+0.013%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09701	+0.282%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.954%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4404%	1h	0.09713	+0.408%	$551K	$1.0M	10x	as long as short