Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0618%/8h= +67.6% APRpaid last 24h +0.188%

Price spread now: Coinbase International against OKX+1.481%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Coinbase International is 1.481% dearer against OKX than usual: you sell high and buy low: +$148 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.191% in total (about 9.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09317	−0.0010	get 0.0005% / 4h	52m 29s	$7.1M	$46.5M	50x
Short	Coinbase International XPL-PERP-INTX	0.09455	0.0608	get 0.0076% / 1h	52m 29s	$63K	$86K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +1.481%Rate

Funding earned: $129.68
Price spread: +1.481% → 0.000%: $148.12
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $257.8
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: OKX: live order book, 4 min ago; Coinbase International: 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 OKX live order book, 4 min ago	0.53 bp	11.4 bp −$11	40.1 bp −$401	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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 exchanges

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	−0.0536%	1h	0.09313	−0.043%	$541	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0507% / S +0.0729%	1h	0.09337	+0.213%	$103K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0392%	1h	0.09333	+0.172%	$47K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0347%	4h	0.09317	0.000%	$43.6M	$54.0M	75x	as long as short
Lighter XPL	−0.0336%	1h	0.09322	+0.054%	$4.2M	$2.5M	10x	as long as short
Polymarket Perps XPL-USD	−0.0281%	1h	0.09318	+0.014%	$37K	$1.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0141%	4h	0.09328	+0.118%	$29K	$89K	10x	as long as short
Paradex XPL-USD-PERP	−0.0102%	8h	0.09322	+0.054%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0066%	4h	0.09316	−0.011%	$42.9M	$97.5M	75x	as long as short
MEXC XPL_USDT	−0.0062%	4h	0.09317	0.000%	$12.3M	$6.5M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAPlong	−0.0010%	4h	0.09317	long leg	$7.1M	$46.5M	50x
dYdX XPL-USD	0.0000%	1h	0.09334	+0.178%	$9K	$1K	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.744%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09327	+0.108%	$70K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0023%	1h	0.09338	+0.225%	$180K	$171K	10x	as long as short
Gate XPL_USDT	+0.0026%	4h	0.09324	+0.075%	$2.8M	$2.7M	75x	as long as short
Extended XPL-USD	+0.0064%	1h	0.09317	−0.002%	$589K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09335	+0.193%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09331	+0.150%	$1.1M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09334	+0.186%	$58.8M	$40.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09320	+0.035%	$242K	$374K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09334	+0.180%	$208K	$52K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09357	+0.434%	$136K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09317	0.000%	$2.2M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09327	+0.107%	$8.7M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09324	+0.075%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09354	+0.397%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09348	+0.328%	$250K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09360	+0.462%	$24K	$67K	50x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09320	+0.032%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09330	+0.140%	$178	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09320	+0.032%	$130K	$202K	20x	as long as short
Phoenix XPL	+0.0170%	1h	0.09368	+0.547%	$189K	$435K	10x	as long as short
BloFin XPL-USDT	+0.0177%	4h	0.09318	+0.011%	$1.7M	$850K	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0608%	1h	0.09455	+1.481%	$63K	$86K	50x
Kraken Futures PF_XPLUSD	+0.1200%	1h	0.09360	+0.459%	$551K	$988K	10x	as long as short