Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against OKX0.000%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.016%−$2 · spread now 0.000%, 7d avg −0.012%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09779	0.0100	pay 0.0050% / 4h	2h 44m	$9.0M	$53.1M	50x
Short	BingX XPL-USDT	0.09779	0.0100	get 0.0050% / 4h	2h 44m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.012%: $1.19
Slippage, 4 orders: −$39.27
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$58.08
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; BingX: 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 OKX live order book, 4 min ago	0.51 bp	13.5 bp −$14	37.2 bp −$372	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	5.66 bp	15.9 bp −$16	34.8 bp −$348	88.9 bp −$8,889	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
Lighter XPL	−0.0272%	1h	0.09769	−0.102%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0072%	1h	0.09789	+0.102%	$181K	$281K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0070% / S +0.0479%	1h	0.09781	+0.015%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09772	−0.075%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.583%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09784	+0.051%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09782	+0.030%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0064%	1h	0.09775	−0.041%	$568	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0081%	4h	0.09782	+0.031%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09769	−0.099%	$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-PERP	+0.0100%	1h	0.09780	+0.015%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09790	+0.112%	$62.9M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09790	+0.110%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09774	−0.048%	$221K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09782	+0.031%	$44.3M	$104.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09777	−0.020%	$47.5M	$52.8M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09779	long leg	$9.0M	$53.1M	50x
Gate XPL_USDT	+0.0100%	4h	0.09772	−0.072%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09782	+0.031%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09780	+0.010%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09783	+0.041%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09779	0.000%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09793	+0.144%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09807	+0.287%	$266K	$769K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	+0.419%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09788	+0.093%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.194%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.010%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09790	+0.112%	$139K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.501%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09779	−0.002%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09782	+0.027%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09788	+0.092%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09731	−0.491%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.665%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3479%	1h	0.09828	+0.503%	$517K	$939K	10x	as long as short