Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against OKX+0.010%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$760.764% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.010%, 7d avg +0.008%

Together, before fees+0.047%+$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	0.09801	0.0100	pay 0.0050% / 4h	3h 37m	$8.6M	$55.3M	50x
Short	KuCoin XPLUSDTM	0.09802	0.0100	get 0.0050% / 4h	3h 37m	$2.4M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.008%: $0.21
Slippage, 4 orders: −$54.38
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.17
Costs to cover: 0.764%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; KuCoin: 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, 1 min ago	0.51 bp	9.5 bp −$10	31.3 bp −$313	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	8.22 bp	30.3 bp −$30	165.4 bp −$1,654	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	−0.0214%	1h	0.09786	−0.153%	$181K	$282K	10x	as long as short
Lighter XPL	−0.0168%	1h	0.09784	−0.173%	$4.4M	$4.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0160% / S +0.0538%	1h	0.09780	−0.213%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0160%	1h	0.09800	−0.010%	$570	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09784	−0.171%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.759%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09780	−0.214%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09780	−0.214%	$76K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09776	−0.255%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0038%	8h	0.09789	−0.119%	$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	0.09803	+0.026%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09823	+0.219%	$63.4M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09800	−0.010%	$253K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09800	−0.014%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09802	+0.010%	$44.8M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09804	+0.031%	$47.5M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09801	long leg	$8.6M	$55.3M	50x
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.365%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09796	−0.051%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09804	+0.031%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09802	+0.010%	$2.4M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09808	+0.071%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09793	−0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09780	−0.214%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.340%	$258K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	−0.316%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09816	+0.151%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.418%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	−0.214%	$194	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09789	−0.122%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09792	−0.092%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09777	−0.248%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09791	−0.102%	$198K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09773	−0.286%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.143%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5063%	1h	0.09826	+0.256%	$569K	$1.0M	10x	as long as short