Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.016%

Price spread now: ApeX Omni against Orderly+0.546%70s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 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 +$3 a day on $10k at the current rate, and ApeX Omni is 0.546% dearer against Orderly than usual: you sell high and buy low: +$55 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XPL_USDC	0.09518	0.0004	pay 0.0002% / 4h	49m 40s	$29K	$335K	10x
Short	ApeX Omni XPLUSDT	0.09570	0.0100	get 0.0013% / 1h	49m 40s	$25K	$80K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now +0.546%Rate

Funding earned: $20.25
Price spread: +0.546% → 0.000%: $54.63
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $58.88
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; ApeX Omni: 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni no order-book sample	—	—	—	—	—

Orderly and ApeX Omni: 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 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
01 Exchange XPLUSD	−0.0320%	1h	0.09513	−0.053%	$553	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0289% / S +0.0601%	1h	0.09521	+0.032%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0114%	4h	0.09505	−0.137%	$45.0M	$55.6M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0108%	1h	0.09520	+0.021%	$176K	$227K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09525	+0.078%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.459%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09520	+0.021%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDClong	+0.0004%	4h	0.09518	long leg	$29K	$335K	10x
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09521	+0.029%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0071%	8h	0.09515	−0.030%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09510	−0.084%	$4.3M	$3.3M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0097%	4h	0.09512	−0.063%	$8.2M	$49.5M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09515	−0.026%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09530	+0.130%	$59.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09520	+0.018%	$241K	$477K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09520	+0.021%	$217K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09516	−0.021%	$43.2M	$105.1M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09516	−0.021%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09516	−0.021%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09524	+0.063%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09518	0.000%	$8.5M	$10.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09517	−0.011%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09518	−0.002%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09541	+0.238%	$254K	$955K	10x	as long as short
ApeX Omni XPLUSDTshort	+0.0100%	1h	0.09570	+0.546%	$25K	$80K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09528	+0.105%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.189%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	+0.021%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09534	+0.168%	$143K	$236K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.494%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09512	−0.063%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09520	+0.021%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09568	+0.525%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09528	+0.105%	$1.7M	$983K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.925%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3338%	1h	0.09556	+0.396%	$541K	$977K	10x	as long as short