Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Polymarket Perps−0.168%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$790.790% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 3 days (all we have)−0.313%−$31 · spread now −0.168%, 7d avg −0.069%

Together, before fees−0.265%−$27 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: KuCoin is 0.100% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09800	0.0100	pay 0.0013% / 1h	23m 08s	$130K	$2.7M	10x
Short	KuCoin XPLUSDTM	0.09784	0.0100	get 0.0050% / 4h	2h 23m	$2.4M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → −0.069%: −$9.97
Slippage, 4 orders: −$58.98
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$88.94
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; KuCoin: 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 Polymarket Perps live order book, 6 min ago	1.84 bp	5.8 bp −$6	7.4 bp −$74	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	13.26 bp	38.1 bp −$38	172.0 bp −$1,720	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0080% / S +0.0486%	1h	0.09792	−0.083%	$113K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09782	−0.189%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09791	−0.097%	$569	$582	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09793	−0.082%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.753%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09794	−0.066%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09792	−0.089%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0016%	1h	0.09792	−0.087%	$178K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09789	−0.117%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09790	−0.112%	$13K	$2K	5x	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	0.09792	−0.087%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09804	+0.037%	$63.0M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09794	−0.063%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09793	−0.078%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09793	−0.077%	$44.2M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09789	−0.117%	$47.8M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09788	−0.128%	$9.1M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.617%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09793	−0.077%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09790	−0.107%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09784	−0.168%	$2.4M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09795	−0.056%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09790	−0.107%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09812	+0.119%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09807	+0.066%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.097%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09800	long leg	$130K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.311%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	−0.107%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09794	−0.066%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09789	−0.115%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09793	−0.071%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09788	−0.128%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09825	+0.250%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.321%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3471%	1h	0.09850	+0.510%	$519K	$941K	10x	as long as short