Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h −0.074%

Price spread now: Deribit against SunX+0.248%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.248% dearer against SunX than usual: you sell high and buy low (spread +0.248% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09690	0.0100	pay 0.0050% / 4h	29m 52s	$2K	$2.0M	20x
Short	Deribit XPL_USDC-PERPETUAL	0.09714	−0.0059	pay 0.0007% / 1h	29m 52s	$47K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.248%Rate

Funding earned: −$33.34
Price spread: +0.248% → 0.000%: $24.77
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.57
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 min ago; Deribit: no order-book sample. 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, 6 min ago	36.10 bp	160.5 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Lighter XPL	−0.0616%	1h	0.09705	+0.155%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09694	+0.041%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0135% / S +0.0522%	1h	0.09716	+0.268%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0059%	1h	0.09714	+0.248%	$47K	$18K	25x
dYdX XPL-USD	0.0000%	1h	0.09710	+0.212%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.874%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09714	+0.251%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0019%	8h	0.09695	+0.053%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0051%	4h	0.09708	+0.186%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0072%	4h	0.09717	+0.279%	$3.0M	$4.0M	75x	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	0.09702	+0.124%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09723	+0.344%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09717	+0.279%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09704	+0.141%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09718	+0.289%	$44.2M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09717	+0.279%	$47.3M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09715	+0.258%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09711	+0.217%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09716	+0.268%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09725	+0.361%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09716	+0.268%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09713	+0.237%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	+0.066%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09710	+0.206%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.206%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	+0.264%	$130K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09690	long leg	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.206%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09699	+0.093%	$138K	$233K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	+0.101%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09708	+0.183%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.258%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09721	+0.320%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09700	+0.103%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.393%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5110%	1h	0.09769	+0.812%	$563K	$1.0M	10x	as long as short