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: MEXC against OKX+0.031%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.031%, 7d avg −0.005%

Together, before fees+0.001%$0 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: MEXC is 0.036% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09773	0.0100	pay 0.0050% / 4h	2h 28m	$9.0M	$53.1M	50x
Short	MEXC XPL_USDT	0.09776	0.0100	get 0.0050% / 4h	2h 28m	$12.8M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → −0.005%: $3.6
Slippage, 4 orders: −$26.23
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$32.63
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	0.51 bp	15.2 bp −$15	48.4 bp −$484	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.51 bp	1.6 bp −$2	9.4 bp −$94	97.2 bp −$9,716	239.1 bp −$119.6K

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	−0.0112%	1h	0.09767	−0.061%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0078% / S +0.0484%	1h	0.09778	+0.048%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09777	+0.041%	$568	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0014%	1h	0.09774	+0.010%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09775	+0.016%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.536%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09778	+0.051%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09780	+0.072%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09773	0.000%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09772	−0.007%	$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
Hyperliquid XPL	+0.0100%	1h	0.09789	+0.163%	$62.9M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09780	+0.071%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09776	+0.030%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09778	+0.051%	$44.2M	$104.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09779	+0.061%	$47.7M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09773	long leg	$9.0M	$53.1M	50x
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.338%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09774	+0.010%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09776	+0.031%	$12.8M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09770	−0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09780	+0.072%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09774	+0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09744	−0.296%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.236%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.133%	$25K	$87K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09770	−0.028%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09786	+0.131%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.133%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.031%	$207	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09756	−0.174%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09772	−0.005%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09778	+0.051%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09768	−0.051%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	0.000%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.726%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3483%	1h	0.09817	+0.446%	$516K	$940K	10x	as long as short