Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Pacifica−0.084%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1141.138% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 4 days (all we have)−0.343%−$34 · spread now −0.084%, 7d avg −0.059%

Together, before fees−0.217%+ Points / potential airdropPacifica: Active · farm board−$22 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: HTX is 0.026% cheaper against Pacifica than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09500	0.0100	pay 0.0013% / 1h	58m 44s	$217K	$46K	10x
Short	HTX XPL-USDT	0.09492	0.0100	get 0.0050% / 4h	1h 58m	$132K	$204K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.059%: −$2.56
Slippage, 4 orders: −$93.85
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$116.41
Costs to cover: 1.138%
Break-even: never at this rate

Slippage from Pacifica: live order book, 52 min ago; HTX: live order book, 50 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, 52 min ago	5.25 bp	22.2 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 50 min ago	20.00 bp	39.9 bp −$40	doesn't fit	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0736%	1h	0.09486	−0.147%	$4.3M	$3.0M	10x	as long as short
01 Exchange XPLUSD	−0.0496%	1h	0.09489	−0.116%	$552	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0412% / S +0.0674%	1h	0.09499	−0.006%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0382%	1h	0.09494	−0.063%	$47K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0252%	4h	0.09489	−0.116%	$44.9M	$51.9M	75x	as long as short
Extended XPL-USD	−0.0144%	1h	0.09488	−0.122%	$601K	$1.1M	25x	as long as short
Paradex XPL-USD-PERP	−0.0109%	8h	0.09484	−0.165%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0083%	4h	0.09491	−0.095%	$30K	$185K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0057%	4h	0.09489	−0.116%	$7.5M	$46.3M	50x	as long as short
Binance XPLUSDT	−0.0021%	4h	0.09491	−0.099%	$43.6M	$95.7M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0020%	4h	0.09493	−0.074%	$13.5M	$6.3M	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09508	+0.082%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.309%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09496	−0.037%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0018%	4h	0.09494	−0.063%	$2.9M	$3.2M	75x	as long as short
Aevo XPL-PERP	+0.0080%	1h	0.09485	−0.158%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09508	+0.085%	$60.3M	$42.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09502	+0.020%	$253K	$361K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09500	long leg	$217K	$46K	10x
KuCoin XPLUSDTM	+0.0100%	4h	0.09498	−0.021%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09502	+0.021%	$8.9M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09494	−0.063%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09498	−0.021%	$179K	$170K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09489	−0.113%	$1.7M	$1.7M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09509	+0.093%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	0.000%	$25K	$68K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09500	−0.003%	$1.2M	$2.2M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09502	+0.021%	$125K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09480	−0.211%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09490	−0.105%	$180	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09492	−0.084%	$132K	$204K	20x
Bulk XPL-USD	+0.0100%	1h	0.09497	−0.027%	$138K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09514	+0.147%	$192K	$434K	10x	as long as short
BloFin XPL-USDT	+0.0219%	4h	0.09494	−0.063%	$1.7M	$829K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.400%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1344%	1h	0.09521	+0.222%	$544K	$977K	10x	as long as short