Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Polymarket Perps−0.161%50s7-day average −0.251% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 4 days (all we have)−0.267%−$27 · spread now −0.161%, 7d avg −0.251%

Together, before fees−0.222%−$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: SunX is 0.090% dearer against Polymarket Perps than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.251%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09575	0.0100	pay 0.0013% / 1h	23m 24s	$125K	$2.0M	10x
Short	SunX XPL-USDT	0.09560	0.0100	get 0.0050% / 4h	2h 23m	$2K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → −0.251%: $9.05
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$6.95
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 5 min ago; SunX: live order book, 12 min ago. Net counts fees only.

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, 5 min ago	3.30 bp	7.3 bp −$7	8.2 bp −$82	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	274.95 bp	388.5 bp −$389	doesn't fit	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
01 Exchange XPLUSD	−0.0272%	1h	0.09556	−0.203%	$556	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0272%	1h	0.09577	+0.017%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09580	+0.045%	$106K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09563	−0.129%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09577	+0.018%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.934%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09573	−0.029%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0010%	4h	0.09574	−0.015%	$29K	$309K	10x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09574	−0.010%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09565	−0.109%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09579	+0.042%	$60.6M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09571	−0.042%	$252K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09578	+0.031%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09565	−0.109%	$43.4M	$100.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09565	−0.109%	$45.3M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09564	−0.119%	$8.1M	$48.1M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09569	−0.067%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09565	−0.109%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09559	−0.171%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09575	−0.004%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09561	−0.150%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09581	+0.058%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.318%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09557	−0.194%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.370%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09575	long leg	$125K	$2.0M	10x
SunX XPL-USDTshort	+0.0100%	4h	0.09560	−0.161%	$2K	$1.7M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09580	+0.048%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.173%	$137K	$191K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.370%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09561	−0.152%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09583	+0.083%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09582	+0.069%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09570	−0.056%	$1.7M	$944K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09605	+0.309%	$67K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2895%	1h	0.09604	+0.298%	$546K	$989K	10x	as long as short