Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against SunX+0.199%46s7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs−$337as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3343.340% of the position

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.150%+$15 · spread now +0.199%, 7d avg +0.172%

Together, before fees+0.121%+$12 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: Binance is 0.027% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.172%. The two prices were read 46 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	SunX XPL-USDT	0.09760	0.0100	pay 0.0050% / 4h	1h 55m	$3K	$2.0M	20x
Short	Binance XPLUSDT	0.09779	0.0100	get 0.0050% / 4h	1h 55m	$43.9M	$105.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SunX. 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 SunXbpFee BinancebpOrdersPrice spread, now +0.199%Rate

Funding earned: $0
Price spread: +0.199% → +0.172%: $2.69
Slippage, 4 orders: −$316.03
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$331.35
Costs to cover: 3.340%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Binance: live order book, 2 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 SunX live order book, 10 min ago	36.18 bp	160.8 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.51 bp	10.0 bp −$10	24.0 bp −$240	118.3 bp −$11.8K	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	−0.0159%	1h	0.09780	+0.205%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0096%	1h	0.09776	+0.164%	$568	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0093% / S +0.0494%	1h	0.09779	+0.194%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0062%	1h	0.09779	+0.195%	$178K	$282K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09782	+0.222%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.431%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09781	+0.213%	$72K	—	150x	as long as short
Lighter XPL	+0.0048%	1h	0.09766	+0.061%	$4.4M	$4.1M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09778	+0.184%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09776	+0.163%	$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	0.09781	+0.210%	$1.4M	$2.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09782	+0.225%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09780	+0.206%	$223K	$46K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09779	+0.199%	$43.9M	$105.8M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09781	+0.215%	$47.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09779	+0.195%	$9.0M	$53.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.613%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09773	+0.133%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09779	+0.195%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09780	+0.205%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09787	+0.277%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09771	+0.113%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09700	−0.613%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	−0.095%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	−0.102%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09792	+0.324%	$130K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09760	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.205%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09719	−0.420%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09769	+0.097%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09781	+0.215%	$38K	$5K	3x	as long as short
Hyperliquid XPL	+0.0136%	1h	0.09798	+0.390%	$63.1M	$47.5M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09736	−0.246%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09726	−0.348%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.348%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4574%	1h	0.09814	+0.549%	$517K	$952K	10x	as long as short