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% APRpaid last 24h 0.000%

Price spread now: BingX against Pacifica+0.078%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$730.733% of the position

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now +0.078%, 7d avg −0.041%

Together, before fees+0.225%+ Points / potential airdropPacifica: Active · farm board+$23 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: BingX is 0.120% dearer against Pacifica than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09704	0.0100	pay 0.0013% / 1h	11m 01s	$221K	$46K	10x
Short	BingX XPL-USDT	0.09712	0.0100	get 0.0050% / 4h	11m 01s	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → −0.041%: $11.95
Slippage, 4 orders: −$55.32
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$61.36
Costs to cover: 0.733%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; BingX: live order book, 2 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 Pacifica live order book, 2 min ago	15.44 bp	19.7 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	5.15 bp	12.2 bp −$12	27.4 bp −$274	86.1 bp −$8,606	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
Lighter XPL	−0.0520%	1h	0.09698	−0.066%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0384%	1h	0.09688	−0.169%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0144% / S +0.0528%	1h	0.09705	+0.007%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09708	+0.037%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09707	+0.029%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.991%	—	—	—	as long as short
Paradex XPL-USD-PERP	+0.0004%	8h	0.09690	−0.147%	$13K	$2K	5x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09706	+0.015%	$76K	—	150x	as long as short
Gate XPL_USDT	+0.0034%	4h	0.09709	+0.047%	$3.0M	$4.1M	75x	as long as short
Orderly PERP_XPL_USDC	+0.0040%	4h	0.09700	−0.045%	$29K	$335K	10x	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	0.09698	−0.069%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09728	+0.238%	$62.7M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09715	+0.109%	$252K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09704	long leg	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09722	+0.182%	$44.3M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09729	+0.253%	$47.2M	$55.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09728	+0.243%	$8.7M	$54.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09711	+0.069%	$141K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09727	+0.233%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09702	−0.025%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09736	+0.326%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09712	+0.078%	—	$7.9M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09714	+0.099%	$179K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09698	−0.065%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09702	−0.023%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.161%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09707	+0.024%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.251%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.045%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	−0.014%	$138K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09729	+0.250%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09705	+0.006%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09715	+0.109%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	−0.128%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09735	+0.315%	$72K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5120%	1h	0.09750	+0.466%	$563K	$1.0M	10x	as long as short