Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Pacifica−0.150%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on Pacifica Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.421%+$42 · spread now −0.150%, 7d avg +0.011%

Together, before fees+0.341%+ Points / potential airdropPacifica: Active · farm board+$34 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: Bitget is 0.161% cheaper against Pacifica than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09769	0.0100	pay 0.0013% / 1h	57m 06s	$222K	$46K	10x
Short	Bitget XPLUSDT	0.09754	0.0100	get 0.0050% / 4h	2h 57m	$8.8M	$11.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.150%Rate

Funding earned: $0
Price spread: −0.150% → +0.011%: −$16.13
Slippage, 4 orders: −$59.96
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$96.09
Costs to cover: 0.800%
Break-even: never at this rate

Slippage from Pacifica: live order book, 11 min ago; Bitget: live order book, 1 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, 11 min ago	5.04 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	4.11 bp	16.7 bp −$17	41.1 bp −$411	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
01 Exchange XPLUSD	−0.0280%	1h	0.09782	+0.136%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0181% / S +0.0551%	1h	0.09769	0.000%	$112K	—	100x	as long as short
Lighter XPL	−0.0176%	1h	0.09759	−0.099%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0057%	1h	0.09772	+0.034%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09771	+0.024%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.501%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09770	+0.017%	$59K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09768	−0.007%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0049%	1h	0.09784	+0.162%	$1.2M	$2.8M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0051%	4h	0.09748	−0.212%	$8.6M	$55.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0052%	8h	0.09777	+0.080%	$13K	$2K	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09766	−0.028%	$63.3M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09781	+0.126%	$258K	$551K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09769	long leg	$222K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09767	−0.021%	$44.7M	$109.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09755	−0.140%	$47.3M	$56.6M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09759	−0.099%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09762	−0.069%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09765	−0.038%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09754	−0.150%	$8.8M	$11.2M	75x
BingX XPL-USDT	+0.0100%	4h	0.09744	−0.253%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09763	−0.058%	$184K	$237K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09762	−0.071%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09746	−0.235%	$259K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.116%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09798	+0.302%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.089%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	+0.013%	$491	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09761	−0.079%	$142K	$244K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09755	−0.140%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09764	−0.052%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09761	−0.075%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09794	+0.259%	$198K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09751	−0.181%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09776	+0.075%	$77K	$100K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4358%	1h	0.09815	+0.476%	$568K	$1.0M	10x	as long as short