Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against SoDEX+0.031%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.031% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XPL-USD	0.09550	0.0100	pay 0.0013% / 1h	43m 06s	$193	$12K	10x
Short	BloFin XPL-USDT	0.09553	0.0340	get 0.0170% / 4h	43m 06s	$1.7M	$981K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now +0.031%Rate

Funding earned: $50.4
Price spread: +0.031% → 0.000%: $3.14
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $33.54
Costs to cover: 0.200%
Break-even: 2.3 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	5.25 bp	15.4 bp −$15	28.5 bp −$285	85.3 bp −$8,527	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0344%	1h	0.09542	−0.084%	$555	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0294% / S +0.0605%	1h	0.09554	+0.041%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0094%	4h	0.09539	−0.115%	$45.1M	$55.2M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0064%	1h	0.09547	−0.031%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0043%	1h	0.09551	+0.010%	$178K	$225K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09570	+0.205%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.726%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0005%	4h	0.09546	−0.042%	$29K	$339K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09555	+0.052%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0074%	8h	0.09557	+0.071%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09539	−0.115%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09554	+0.039%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09560	+0.103%	$59.9M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09555	+0.056%	$243K	$485K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09568	+0.191%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09545	−0.052%	$43.3M	$103.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09551	+0.010%	$8.2M	$49.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09530	−0.209%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09548	−0.021%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09547	−0.031%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09542	−0.084%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09556	+0.063%	$8.5M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09550	0.000%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.149%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09530	−0.209%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	−0.314%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09560	+0.105%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.209%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USDlong	+0.0100%	1h	0.09550	long leg	$193	$12K	10x
HTX XPL-USDT	+0.0100%	4h	0.09520	−0.314%	$139K	$224K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09543	−0.070%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	−0.052%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09551	+0.010%	$193K	$617K	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09553	+0.031%	$1.7M	$981K	75x
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09583	+0.346%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3328%	1h	0.09586	+0.372%	$543K	$977K	10x	as long as short