Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: OKX against Nado−0.078%7-day average −0.053% · 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−$420.420% of the position

Long on Nado Short on OKX

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+0.005%$0 · spread now −0.078%, 7d avg −0.053%

Together, before fees+0.006%+ Points / potential airdropNado: Active · farm board+$1 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: OKX is 0.025% cheaper against Nado than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09652	0.0100	pay 0.0012% / 1h	17m 24s	$1.2M	$2.3M	10x
Short	OKX XPL-USDT-SWAP	0.09644	0.0100	get 0.0050% / 4h	2h 17m	$8.1M	$48.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → −0.053%: −$2.51
Slippage, 4 orders: −$24.97
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$44.48
Costs to cover: 0.420%
Break-even: 406166839495405.5 days

Slippage from Nado: live order book, 1 min ago; OKX: 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, 1 min ago	1.55 bp	7.8 bp −$8	20.6 bp −$206	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.52 bp	11.9 bp −$12	39.4 bp −$394	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	−0.0272%	1h	0.09651	−0.005%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09651	−0.004%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09647	−0.047%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09659	+0.078%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.558%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09655	+0.033%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09643	−0.088%	$29K	$306K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09650	−0.016%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0065%	8h	0.09660	+0.083%	$13K	$696	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09652	long leg	$1.2M	$2.3M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09668	+0.176%	$61.1M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09660	+0.088%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09667	+0.155%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09648	−0.038%	$43.7M	$99.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09644	−0.078%	$45.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09644	−0.078%	$8.1M	$48.6M	50x
Bulk XPL-USD	+0.0100%	1h	0.09581	−0.727%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09659	+0.078%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09650	−0.016%	$12.4M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09647	−0.047%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09655	+0.036%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09646	−0.057%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09649	−0.026%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.494%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09637	−0.150%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.088%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09663	+0.119%	$126K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.223%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.119%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09632	−0.202%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09658	+0.064%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09645	−0.067%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09657	+0.057%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09632	−0.202%	$1.7M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09677	+0.264%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2872%	1h	0.09681	+0.303%	$550K	$958K	10x	as long as short