Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against SunX+0.120%7-day average +0.162% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$339as in the Price arb table

costs, in and out, $10k−$3353.345% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now +0.120%, 7d avg +0.162%

Together, before fees+0.172%+ Points / potential airdropNado: Active · farm board+$17 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: Nado is 0.042% cheaper against SunX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09580	0.0100	pay 0.0050% / 4h	1h 39m	$3K	$1.6M	20x
Short	Nado XPL-PERP	0.09591	0.0100	get 0.0013% / 1h	39m 02s	$1.2M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.120%Rate

Funding earned: $0
Price spread: +0.120% → +0.162%: −$4.19
Slippage, 4 orders: −$319.51
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$338.7
Costs to cover: 3.345%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Nado: live order book, 5 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, 6 min ago	36.48 bp	162.3 bp −$162	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	1.56 bp	9.5 bp −$10	21.1 bp −$211	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	−0.1112%	1h	0.09584	+0.042%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09589	+0.094%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09603	+0.242%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0271%	1h	0.09599	+0.198%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09594	+0.146%	$30K	$280K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09599	+0.194%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.974%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09601	+0.216%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0053%	8h	0.09588	+0.088%	$12K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09611	+0.328%	$60.7M	$46.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09604	+0.255%	$253K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09599	+0.193%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09594	+0.148%	$43.4M	$97.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09595	+0.157%	$45.5M	$52.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09594	+0.146%	$7.9M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09595	+0.157%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09598	+0.188%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09593	+0.136%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09603	+0.240%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09601	+0.219%	$8.9M	$9.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09594	+0.146%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09602	+0.230%	$177K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09599	+0.196%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09598	+0.184%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	+0.418%	$25K	$77K	50x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09591	+0.120%	$1.2M	$2.2M	10x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09607	+0.286%	$126K	$1.8M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09580	long leg	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09600	+0.209%	$198	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09577	−0.031%	$132K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09591	+0.116%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09594	+0.145%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09619	+0.407%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09587	+0.073%	$1.7M	$935K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.441%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2842%	1h	0.09635	+0.578%	$547K	$935K	10x	as long as short