Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Pacifica−0.008%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$630.629% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.438%+$44 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now −0.008%, 7d avg −0.070%

Together, before fees+0.270%+ Points / potential airdropPacifica: Active · farm board+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.062% dearer against Pacifica than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09659	0.0100	pay 0.0013% / 1h	12m 51s	$221K	$46K	10x
Short	BloFin XPL-USDT	0.09658	0.0340	get 0.0170% / 4h	3h 12m	$1.8M	$961K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.008%Rate

Funding earned: $50.4
Price spread: −0.008% → −0.070%: $6.17
Slippage, 4 orders: −$42.89
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.32
Costs to cover: 0.629%
Break-even: 7.9 days

Slippage from Pacifica: live order book, 40 min ago; BloFin: live order book, 10 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, 40 min ago	5.15 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 10 min ago	3.11 bp	10.4 bp −$10	17.0 bp −$170	51.7 bp −$5,174	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
Deribit XPL_USDC-PERPETUAL	−0.0371%	1h	0.09656	−0.029%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0360%	1h	0.09648	−0.112%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09663	+0.039%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0054%	1h	0.09661	+0.023%	$176K	$189K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09658	−0.011%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.616%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09662	+0.035%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0010%	4h	0.09653	−0.060%	$29K	$339K	10x	as long as short
Bybit XPLUSDT	+0.0014%	4h	0.09648	−0.112%	$45.7M	$54.1M	75x	as long as short
Lighter XPL	+0.0048%	1h	0.09639	−0.205%	$4.4M	$3.0M	10x	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	+0.0053%	8h	0.09652	−0.075%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09652	−0.070%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09663	+0.048%	$61.3M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09658	−0.005%	$252K	$422K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09659	long leg	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09642	−0.169%	$43.8M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09649	−0.101%	$8.2M	$48.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09656	−0.029%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09656	−0.029%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09649	−0.101%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09662	+0.033%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09662	+0.033%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09648	−0.112%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09655	−0.041%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09657	−0.021%	$260K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.219%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09668	+0.098%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.195%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.091%	$205	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09643	−0.164%	$141K	$185K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09649	−0.099%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09648	−0.114%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09681	+0.230%	$196K	$573K	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09658	−0.008%	$1.8M	$961K	75x
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.509%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3109%	1h	0.09688	+0.303%	$551K	$990K	10x	as long as short