Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against SunX−0.021%7-day average +0.159% · you buy dearer than you sell

Net, funding: paid 7d − costs−$397as in the Funding arb table

Net, price: spread back to 7d avg − costs−$428as in the Price arb table

costs, in and out, $10k−$4104.098% of the position

Long on SunX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.021%, 7d avg +0.159%

Together, before fees+0.239%+$24 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: HTX is 0.180% cheaper against SunX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.159%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09590	0.0100	pay 0.0050% / 4h	41m 54s	$3K	$1.6M	20x
Short	HTX XPL-USDT	0.09588	0.0100	get 0.0050% / 4h	41m 54s	$133K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.159%: −$18
Slippage, 4 orders: −$389.8
Fee SunX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$427.8
Costs to cover: 4.098%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; HTX: live order book, 60 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, 3 min ago	36.51 bp	162.5 bp −$162	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 60 min ago	13.03 bp	74.0 bp −$74	doesn't fit	doesn't fit	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
Lighter XPL	−0.1392%	1h	0.09596	+0.063%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0472%	1h	0.09588	−0.021%	$557	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09616	+0.271%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09615	+0.261%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0016%	4h	0.09612	+0.229%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09600	+0.105%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.056%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09615	+0.262%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0011%	8h	0.09595	+0.055%	$12K	$696	5x	as long as short
Bybit XPLUSDT	+0.0062%	4h	0.09605	+0.156%	$45.8M	$53.7M	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	0.09599	+0.099%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09627	+0.386%	$60.8M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09618	+0.287%	$254K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09606	+0.168%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09608	+0.188%	$43.5M	$97.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09605	+0.156%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09577	−0.135%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09612	+0.229%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09606	+0.167%	$12.6M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09610	+0.209%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09614	+0.250%	$9.1M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09607	+0.177%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09615	+0.261%	$180K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09607	+0.173%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09606	+0.171%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+0.209%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09617	+0.281%	$126K	$1.8M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09590	long leg	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09610	+0.209%	$196	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09588	−0.021%	$133K	$213K	20x
Extended XPL-USD	+0.0104%	1h	0.09602	+0.130%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	+0.261%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09622	+0.334%	$195K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09600	+0.104%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.335%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2720%	1h	0.09645	+0.571%	$547K	$930K	10x	as long as short