Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against SunX+0.123%7-day average +0.217% · you sell dearer than you buy

Net, funding: paid 7d − costs−$340as in the Funding arb table

Net, price: spread back to 7d avg − costs−$349as in the Price arb table

costs, in and out, $10k−$3403.401% of the position

Long on SunX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.332%+$33 · spread now +0.123%, 7d avg +0.217%

Together, before fees+0.332%+ Points / potential airdropPacifica: Active · farm board+$33 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: Pacifica is 0.094% cheaper against SunX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.217%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09500	0.0100	pay 0.0050% / 4h	2h 21m	$3K	$1.5M	20x
Short	Pacifica XPL	0.09512	0.0100	get 0.0013% / 1h	21m 52s	$218K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.217%: −$9.37
Slippage, 4 orders: −$324.06
Fee SunX: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$349.43
Costs to cover: 3.401%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Pacifica: live order book, 29 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	31.55 bp	149.2 bp −$149	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 29 min ago	5.25 bp	24.7 bp −$25	doesn't fit	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0960%	1h	0.09501	+0.011%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0536%	1h	0.09503	+0.032%	$553	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0374% / S +0.0652%	1h	0.09516	+0.163%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0298%	4h	0.09507	+0.074%	$44.8M	$53.3M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09512	+0.126%	$47K	$18K	25x	as long as short
Extended XPL-USD	−0.0208%	1h	0.09507	+0.075%	$601K	$1.2M	25x	as long as short
Paradex XPL-USD-PERP	−0.0142%	8h	0.09501	+0.015%	$12K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0097%	4h	0.09511	+0.116%	$7.6M	$47.2M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0066%	4h	0.09507	+0.074%	$30K	$199K	10x	as long as short
Gate XPL_USDT	−0.0050%	4h	0.09508	+0.084%	$2.9M	$3.4M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09505	+0.054%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.308%	—	—	—	as long as short
MEXC XPL_USDT	+0.0002%	4h	0.09508	+0.084%	$13.5M	$6.5M	100x	as long as short
Binance XPLUSDT	+0.0004%	4h	0.09506	+0.063%	$43.5M	$96.7M	75x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09516	+0.166%	$72K	—	150x	as long as short
BloFin XPL-USDT	+0.0015%	4h	0.09498	−0.021%	$1.7M	$813K	75x	as long as short
Aevo XPL-PERP	+0.0080%	1h	0.09512	+0.126%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09513	+0.134%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09528	+0.300%	$60.3M	$42.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09518	+0.187%	$254K	$379K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09512	+0.123%	$218K	$45K	10x
KuCoin XPLUSDTM	+0.0100%	4h	0.09517	+0.179%	$2.4M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09517	+0.179%	$8.9M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09508	+0.084%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09518	+0.189%	$179K	$172K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09506	+0.058%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09521	+0.224%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.211%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09518	+0.189%	$125K	$1.5M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09500	long leg	$3K	$1.5M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09510	+0.105%	$177	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09485	−0.158%	$132K	$213K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09515	+0.158%	$139K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09539	+0.411%	$193K	$474K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0648%	1h	0.09736	+2.484%	$65K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1851%	1h	0.09531	+0.324%	$542K	$984K	10x	as long as short