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: SunX against Nado−0.243%7-day average −0.162% · 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−$337as in the Price arb table

costs, in and out, $10k−$3293.290% of the position

Long on Nado Short on SunX

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)−0.109%−$11 · spread now −0.243%, 7d avg −0.162%

Together, before fees−0.110%+ Points / potential airdropNado: Active · farm board−$11 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: SunX is 0.081% cheaper against Nado than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09673	0.0100	pay 0.0012% / 1h	56m 38s	$1.2M	$2.6M	10x
Short	SunX XPL-USDT	0.09650	0.0100	get 0.0050% / 4h	3h 56m	$2K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.243%Rate

Funding earned: $0
Price spread: −0.243% → −0.162%: −$8.1
Slippage, 4 orders: −$314.05
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$337.15
Costs to cover: 3.290%
Break-even: 34637858577494448.0 days

Slippage from Nado: live order book, 2 min ago; SunX: live order book, 9 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	1.03 bp	6.8 bp −$7	17.3 bp −$173	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	36.40 bp	152.4 bp −$152	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	−0.0480%	1h	0.09653	−0.212%	$561	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0371%	1h	0.09663	−0.109%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09671	−0.027%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0263%	1h	0.09666	−0.078%	$179K	$223K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09668	−0.056%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.736%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09672	−0.018%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0016%	4h	0.09658	−0.160%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0057%	8h	0.09661	−0.131%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09658	−0.160%	$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	0.09673	long leg	$1.2M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09678	+0.052%	$61.1M	$46.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09673	−0.004%	$252K	$470K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09667	−0.067%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09659	−0.145%	$43.8M	$102.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09657	−0.171%	$45.7M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09661	−0.129%	$8.3M	$49.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09631	−0.436%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09660	−0.140%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09659	−0.150%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09656	−0.181%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09669	−0.047%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09658	−0.160%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09669	−0.049%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09661	−0.132%	$258K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	−0.036%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09676	+0.030%	$127K	$2.0M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09650	−0.243%	$2K	$1.8M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.140%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09677	+0.036%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09656	−0.179%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09660	−0.140%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09681	+0.078%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09661	−0.129%	$1.7M	$986K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09698	+0.253%	$75K	$84K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3105%	1h	0.09700	+0.272%	$550K	$974K	10x	as long as short