Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against SunX+0.273%7-day average +0.149% · you sell dearer than you buy

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

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.277%+$28 · spread now +0.273%, 7d avg +0.149%

Together, before fees+0.271%+$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: BingX is 0.124% dearer against SunX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.149%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09530	0.0100	pay 0.0050% / 4h	53m 46s	$3K	$1.8M	20x
Short	BingX XPL-USDT	0.09556	0.0100	get 0.0050% / 4h	53m 46s	—	$8.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.273%Rate

Funding earned: $0
Price spread: +0.273% → +0.149%: $12.38
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$5.62
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 12 min ago; BingX: live order book, 14 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 SunX live order book, 12 min ago	36.59 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	5.22 bp	13.5 bp −$13	23.7 bp −$237	80.7 bp −$8,067	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	−0.0392%	1h	0.09552	+0.231%	$555	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0288% / S +0.0599%	1h	0.09556	+0.276%	$105K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0192%	1h	0.09556	+0.273%	$177K	$227K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0169%	1h	0.09550	+0.210%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0130%	4h	0.09555	+0.262%	$45.3M	$56.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09570	+0.416%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.560%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09545	+0.157%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	+0.291%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0068%	8h	0.09560	+0.311%	$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
OKX XPL-USDT-SWAP	+0.0084%	4h	0.09559	+0.304%	$8.2M	$50.2M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09543	+0.136%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	+0.304%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09568	+0.402%	$60.0M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09556	+0.271%	$242K	$488K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	+0.421%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09555	+0.262%	$43.3M	$106.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09551	+0.220%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09554	+0.252%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09558	+0.294%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09560	+0.315%	$8.5M	$10.5M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09556	+0.273%	—	$8.0M	—
Variational Omni XPL	+0.0100%	4h	0.09536	+0.062%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09565	+0.368%	$262K	$941K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.420%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09566	+0.380%	$127K	$2.1M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09530	long leg	$3K	$1.8M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.210%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09565	+0.367%	$143K	$238K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.367%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09551	+0.223%	$647K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	+0.157%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09576	+0.483%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09530	0.000%	$1.7M	$993K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.797%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3328%	1h	0.09586	+0.588%	$543K	$978K	10x	as long as short