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: Bulk against SunX+0.372%7-day average +0.219% · you sell dearer than you buy

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

Long on SunX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.221%−$22 · spread now +0.372%, 7d avg +0.219%

Together, before fees−0.223%−$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: Bulk is 0.153% dearer against SunX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.219%.

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	2h 40m	$3K	$1.7M	20x
Short	Bulk XPL-USD	0.09565	0.0100	get 0.0013% / 1h	40m 49s	$139K	$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.372%Rate

Funding earned: $0
Price spread: +0.372% → +0.219%: $15.34
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $0.34
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SunX: live order book, 5 min ago; Bulk: live order book, 8 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, 5 min ago	506.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 8 min ago	5.23 bp	8.7 bp −$9	8.7 bp −$87	25.4 bp −$2,542	104.5 bp −$52.3K

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	−0.0273%	1h	0.09551	+0.220%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09556	+0.268%	$105K	—	100x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09549	+0.199%	$555	$708	5x	as long as short
Lighter XPL	−0.0048%	1h	0.09526	−0.042%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09538	+0.089%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.557%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09557	+0.283%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09548	+0.189%	$29K	$320K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0038%	1h	0.09543	+0.136%	$173K	$190K	10x	as long as short
Paradex XPL-USD-PERP	+0.0064%	8h	0.09556	+0.273%	$12K	$696	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	0.09550	+0.215%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09549	+0.195%	$60.3M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09541	+0.119%	$247K	$430K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09536	+0.061%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09524	−0.063%	$43.2M	$100.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09523	−0.073%	$45.1M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09525	−0.052%	$8.1M	$48.0M	50x	as long as short
Bulk XPL-USDshort	+0.0100%	1h	0.09565	+0.372%	$139K	$0	10x
Gate XPL_USDT	+0.0100%	4h	0.09537	+0.073%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09535	+0.052%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09536	+0.063%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09543	+0.136%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09534	+0.042%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09544	+0.151%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09588	+0.614%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.420%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09563	+0.350%	$125K	$2.0M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09530	long leg	$3K	$1.7M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.210%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.651%	$140K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09529	−0.011%	$632K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09549	+0.203%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09575	+0.472%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09548	+0.189%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+1.154%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2901%	1h	0.09584	+0.566%	$545K	$988K	10x	as long as short