Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h 0.000%

Price spread now: OKX against Pacifica−0.035%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.035%, 7d avg −0.026%

Together, before fees−0.011%+ Points / potential airdropPacifica: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09739	0.0100	pay 0.0013% / 1h	30m 14s	$221K	$47K	10x
Short	OKX XPL-USDT-SWAP	0.09736	0.0054	get 0.0027% / 4h	2h 30m	$8.4M	$55.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$9.74
Price spread: −0.035% → −0.026%: −$0.88
Slippage, 4 orders: −$56.97
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$85.59
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from Pacifica: live order book, 38 min ago; OKX: live order book, 4 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, 38 min ago	5.04 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.51 bp	12.5 bp −$12	40.4 bp −$404	doesn't fit	doesn't fit

XPL on 35 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	−0.0232%	1h	0.09732	−0.076%	$566	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0195% / S +0.0560%	1h	0.09738	−0.014%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0075%	1h	0.09742	+0.027%	$180K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09727	−0.132%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.265%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09737	−0.025%	$47K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	+0.0003%	4h	0.09732	−0.076%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09737	−0.029%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAPshort	+0.0054%	4h	0.09736	−0.035%	$8.4M	$55.3M	50x
Paradex XPL-USD-PERP	+0.0057%	8h	0.09737	−0.027%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09727	−0.127%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09732	−0.076%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09749	+0.101%	$63.0M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09742	+0.023%	$248K	$526K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09739	long leg	$221K	$47K	10x
Binance XPLUSDT	+0.0100%	4h	0.09734	−0.055%	$44.3M	$109.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09730	−0.097%	$46.9M	$57.6M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09672	−0.696%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09737	−0.025%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09734	−0.055%	$12.9M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09734	−0.055%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09744	+0.047%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09734	−0.055%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09726	−0.138%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	−0.097%	$266K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.199%	$25K	$90K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09744	+0.043%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.097%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.097%	$196	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09733	−0.066%	$144K	$257K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09731	−0.087%	$659K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09735	−0.041%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09715	−0.251%	$197K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.273%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4374%	1h	0.09779	+0.411%	$555K	$1.0M	10x	as long as short