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 −0.020%

Price spread now: GRVT against OKX+0.040%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1281.283% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)+0.240%+$24 · spread now +0.040%, 7d avg −0.029%

Together, before fees+0.289%+ Points / potential airdropGRVT: Active · farm board+$29 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: GRVT is 0.069% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09713	0.0100	pay 0.0050% / 4h	1h 11m	$8.9M	$53.9M	50x
Short	GRVT XPL_USDT_Perp	0.09717	0.0100	get 0.0050% / 4h	1h 11m	$259K	$787K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → −0.029%: $6.89
Slippage, 4 orders: −$109.29
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$121.4
Costs to cover: 1.283%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; GRVT: live order book, 7 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, 3 min ago	0.51 bp	9.9 bp −$10	37.3 bp −$373	doesn't fit	doesn't fit
Sell GRVT live order book, 7 min ago	5.15 bp	34.0 bp −$34	223.5 bp −$2,235	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
Backpack XPL_USDC_PERP	−0.0292%	1h	0.09712	−0.010%	$177K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09712	−0.010%	$565	$708	5x	as long as short
Lighter XPL	−0.0208%	1h	0.09696	−0.175%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0115% / S +0.0509%	1h	0.09711	−0.020%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09718	+0.055%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.058%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09711	−0.021%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09710	−0.029%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09705	−0.082%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0085%	8h	0.09718	+0.053%	$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	0.09710	−0.026%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09727	+0.139%	$62.9M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09713	0.000%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09720	+0.076%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09715	+0.021%	$43.9M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09716	+0.031%	$47.9M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09713	long leg	$8.9M	$53.9M	50x
Bulk XPL-USD	+0.0100%	1h	0.09725	+0.119%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09706	−0.072%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09714	+0.010%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09718	+0.051%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09721	+0.082%	$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	0.09719	+0.065%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09717	+0.040%	$259K	$787K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.072%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09721	+0.081%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.237%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.031%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09720	+0.072%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09714	+0.005%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09711	−0.025%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09716	+0.031%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09730	+0.175%	$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	+0.4597%	1h	0.09765	+0.540%	$560K	$995K	10x	as long as short