Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Polymarket Perps−0.072%7-day average −0.100% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.480%+$48 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now −0.072%, 7d avg −0.100%

Together, before fees+0.378%+$38 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 0.028% dearer against Polymarket Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09936	0.0100	pay 0.0013% / 1h	14m 52s	$133K	$2.7M	10x
Short	BloFin XPL-USDT	0.09929	0.0340	get 0.0170% / 4h	3h 14m	$1.8M	$1.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now −0.072%Rate

Funding earned: $50.4
Price spread: −0.072% → −0.100%: $2.76
Slippage, 4 orders: −$20.84
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $12.32
Costs to cover: 0.408%
Break-even: 5.3 days

Slippage from Polymarket Perps: live order book, 4 min ago; BloFin: live order book, 3 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 Polymarket Perps live order book, 4 min ago	1.83 bp	5.8 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.51 bp	13.4 bp −$13	22.9 bp −$229	82.8 bp −$8,283	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	−0.0354%	1h	0.09920	−0.163%	$48K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0192%	1h	0.09912	−0.244%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0171% / S +0.0546%	1h	0.09930	−0.066%	$114K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09907	−0.294%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09934	−0.021%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.809%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09927	−0.088%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0021%	4h	0.09919	−0.173%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0049%	8h	0.09926	−0.101%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0095%	4h	0.09906	−0.304%	$8.8M	$56.2M	50x	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	0.09927	−0.093%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09919	−0.172%	$256K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09936	−0.005%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09909	−0.274%	$45.3M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09908	−0.284%	$48.1M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.666%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09916	−0.203%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09906	−0.304%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09911	−0.254%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09918	−0.183%	$8.8M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09908	−0.284%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09918	−0.183%	$186K	$253K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09912	−0.244%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09914	−0.223%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	−0.264%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09936	long leg	$133K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.264%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09920	−0.163%	$499	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09929	−0.072%	$144K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09906	−0.301%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09924	−0.119%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09918	−0.183%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0194%	1h	0.09926	−0.100%	$64.4M	$47.1M	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09929	−0.072%	$1.8M	$1.2M	75x
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.441%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4990%	1h	0.09970	+0.344%	$576K	$1.0M	10x	as long as short