Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.052%

Price spread now: BingX against 01 Exchange−0.162%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BingX is 0.162% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.162% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 5.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XPLUSD	0.09872	0.0008	pay 0.0001% / 1h	58m 21s	$574	$582	5x
Short	BingX XPL-USDT	0.09856	0.0100	get 0.0050% / 4h	2h 58m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against 01 Exchange. 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 01 ExchangebpFee BingXbpOrdersPrice spread, now −0.162%Rate

Funding earned: $19.32
Price spread: −0.162% → 0.000%: −$16.21
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$13.89
Costs to cover: 0.170%
Break-even: 12.0 days

Slippage unknown: 01 Exchange: no order-book sample; BingX: live order book, 10 min ago. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell BingX live order book, 10 min ago	5.55 bp	16.1 bp −$16	29.0 bp −$290	94.2 bp −$9,416	doesn't fit

01 Exchange: 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0064% / S +0.0475%	1h	0.09860	−0.125%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09870	−0.020%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.309%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09859	−0.132%	$49K	$17K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09862	−0.106%	$73K	—	150x	as long as short
01 Exchange XPLUSDlong	+0.0008%	1h	0.09872	long leg	$574	$582	5x
Backpack XPL_USDC_PERP	+0.0047%	1h	0.09882	+0.101%	$184K	$285K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09858	−0.142%	$27K	$333K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09846	−0.263%	$4.5M	$4.2M	10x	as long as short
Paradex XPL-USD-PERP	+0.0099%	8h	0.09871	−0.010%	$13K	$2K	5x	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	0.09871	−0.010%	$1.4M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09874	+0.023%	$255K	$514K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09872	0.000%	$224K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09848	−0.247%	$44.9M	$102.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09854	−0.182%	$47.7M	$51.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09853	−0.192%	$9.3M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09901	+0.294%	$143K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09870	−0.020%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09873	+0.010%	$13.3M	$7.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09875	+0.030%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09862	−0.101%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09856	−0.162%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09899	+0.270%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09900	+0.284%	$268K	$765K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	+0.385%	$26K	$82K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09881	+0.092%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09860	−0.122%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09860	−0.122%	$208	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09863	−0.091%	$140K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09855	−0.174%	$701K	$1.0M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09855	−0.172%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0318%	1h	0.09912	+0.405%	$202K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09893	+0.213%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0398%	1h	0.09888	+0.165%	$65.3M	$45.1M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+0.942%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3454%	1h	0.09899	+0.278%	$296K	$674K	10x	as long as short