Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against SunX−0.094%47s7-day average +0.179% · you buy dearer than you sell

Net, funding: paid 7d − costs−$349as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3433.434% of the position

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+0.464%+$46 · spread now −0.094%, 7d avg +0.179%

Together, before fees+0.407%+$41 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: OKX is 0.273% cheaper against SunX than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.179%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09610	0.0100	pay 0.0050% / 4h	27m 27s	$3K	$1.8M	20x
Short	OKX XPL-USDT-SWAP	0.09601	0.0100	get 0.0050% / 4h	27m 27s	$8.3M	$49.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → +0.179%: −$27.26
Slippage, 4 orders: −$325.39
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$370.65
Costs to cover: 3.434%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; OKX: live order book, 1 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, 8 min ago	31.45 bp	167.4 bp −$167	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.52 bp	11.1 bp −$11	34.8 bp −$348	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
01 Exchange XPLUSD	−0.0384%	1h	0.09599	−0.114%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0307% / S +0.0612%	1h	0.09598	−0.121%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09621	+0.114%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0083%	4h	0.09600	−0.104%	$45.5M	$54.8M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09628	+0.185%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.221%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09600	−0.103%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09616	+0.062%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0080%	8h	0.09632	+0.226%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0094%	1h	0.09622	+0.125%	$178K	$223K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09619	+0.094%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09601	−0.094%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09616	+0.061%	$60.6M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09629	+0.199%	$242K	$460K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	+0.208%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09607	−0.035%	$43.7M	$103.3M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09601	−0.094%	$8.3M	$49.4M	50x
Bulk XPL-USD	+0.0100%	1h	0.09550	−0.624%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09625	+0.156%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09600	−0.104%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09603	−0.073%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09603	−0.073%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09627	+0.177%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09656	+0.477%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09669	+0.618%	$262K	$975K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.312%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09610	+0.004%	$124K	$2.0M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09610	long leg	$3K	$1.8M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.104%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09673	+0.656%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09625	+0.152%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+0.109%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09643	+0.343%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09646	+0.375%	$1.7M	$994K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.687%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3301%	1h	0.09664	+0.558%	$548K	$975K	10x	as long as short