Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX+0.345%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 dYdX

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. dYdX is 0.345% dearer against SunX than usual: you sell high and buy low (spread +0.345% now, against zero (this spread has no 7-day history yet)): +$35 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09900	0.0100	pay 0.0050% / 4h	3h 15m	$3K	$2.0M	20x
Short	dYdX XPL-USD	0.09934	0	get 0.0000% / 1h	15m 29s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.345%Rate

Funding earned: −$21
Price spread: +0.345% → 0.000%: $34.5
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$4.5
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 1 min ago; dYdX: 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, 1 min ago	35.34 bp	166.2 bp −$166	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Deribit XPL_USDC-PERPETUAL	−0.0254%	1h	0.09919	+0.192%	$48K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0192%	1h	0.09912	+0.121%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0171% / S +0.0545%	1h	0.09913	+0.127%	$114K	—	100x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09934	+0.345%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.530%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09913	+0.131%	$77K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09919	+0.192%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0022%	4h	0.09915	+0.152%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0049%	8h	0.09926	+0.265%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0099%	4h	0.09919	+0.192%	$8.8M	$56.2M	50x	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	0.09927	+0.273%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09934	+0.346%	$257K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09936	+0.361%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09927	+0.273%	$45.4M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09927	+0.273%	$48.2M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.303%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09927	+0.273%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09921	+0.212%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09923	+0.232%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09935	+0.354%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09924	+0.242%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09927	+0.273%	$186K	$263K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09912	+0.121%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09914	+0.142%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	+0.101%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09936	+0.366%	$133K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09900	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09920	+0.202%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09878	−0.222%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09925	+0.251%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09930	+0.303%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09918	+0.182%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0199%	1h	0.09942	+0.419%	$64.5M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09897	−0.030%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.808%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4990%	1h	0.09970	+0.705%	$576K	$1.0M	10x	as long as short