Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: SoDEX against Nado+0.072%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.072% dearer against Nado than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09713	0.0100	pay 0.0012% / 1h	29m 20s	$1.4M	$2.6M	10x
Short	SoDEX XPL-USD	0.09720	0.0100	get 0.0013% / 1h	29m 20s	$447	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → 0.000%: $7.21
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$7.79
Costs to cover: 0.150%
Break-even: 800656908201416.6 days

Slippage unknown: Nado: live order book, 5 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 5 min ago	1.54 bp	7.6 bp −$8	28.9 bp −$289	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Backpack XPL_USDC_PERP	−0.0385%	1h	0.09708	−0.051%	$176K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09713	0.000%	$565	$708	5x	as long as short
Lighter XPL	−0.0192%	1h	0.09706	−0.072%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0106% / S +0.0503%	1h	0.09716	+0.027%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09717	+0.041%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09712	−0.009%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.059%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09714	+0.012%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0075%	4h	0.09712	−0.010%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0087%	8h	0.09706	−0.075%	$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
Nado XPL-PERPlong	+0.0100%	1h	0.09713	long leg	$1.4M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09727	+0.145%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09719	+0.062%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09718	+0.056%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09710	−0.031%	$43.7M	$106.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09713	0.000%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09714	+0.010%	$8.9M	$53.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.256%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09710	−0.031%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09709	−0.041%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09712	−0.010%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09723	+0.103%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09710	−0.031%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	−0.203%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09693	−0.202%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.175%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09721	+0.079%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.237%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USDshort	+0.0100%	1h	0.09720	+0.072%	$447	$10K	10x
HTX XPL-USDT	+0.0100%	4h	0.09688	−0.257%	$137K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09714	+0.007%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09721	+0.080%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09709	−0.041%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09712	−0.010%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.484%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4596%	1h	0.09768	+0.564%	$522K	$961K	10x	as long as short