Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.049%

Price spread now: Bitget against 01 Exchange−0.082%57s7-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 Bitget

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. Bitget is 0.082% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.082% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 4.5 days of funding at the current rate (+$2 a day). The two prices were read 57 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	01 Exchange XPLUSD	0.09802	0.0040	pay 0.0005% / 1h	40m 46s	$570	$582	5x
Short	Bitget XPLUSDT	0.09794	0.0100	get 0.0050% / 4h	2h 40m	$8.6M	$11.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.082%Rate

Funding earned: $12.6
Price spread: −0.082% → 0.000%: −$8.16
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$14.56
Costs to cover: 0.190%
Break-even: 15.1 days

Slippage unknown: 01 Exchange: no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago	3.58 bp	16.2 bp −$16	46.7 bp −$467	doesn't fit	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
Deribit XPL_USDC-PERPETUAL	−0.0465%	1h	0.09789	−0.133%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0160%	1h	0.09780	−0.224%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0071% / S +0.0480%	1h	0.09802	+0.004%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09796	−0.056%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.766%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09803	+0.011%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0019%	1h	0.09792	−0.102%	$178K	$282K	10x	as long as short
01 Exchange XPLUSDlong	+0.0040%	1h	0.09802	long leg	$570	$582	5x
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09794	−0.082%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09787	−0.149%	$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	0.09802	+0.003%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09803	+0.013%	$63.0M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09798	−0.036%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09797	−0.055%	$222K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09788	−0.138%	$44.2M	$104.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09790	−0.122%	$47.8M	$53.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09785	−0.173%	$9.1M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.209%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09788	−0.143%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09788	−0.143%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09795	−0.071%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09794	−0.082%	$8.6M	$11.0M	75x
BingX XPL-USDT	+0.0100%	4h	0.09788	−0.143%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09793	−0.091%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09770	−0.325%	$256K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	−0.122%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09811	+0.091%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.224%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	−0.224%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09791	−0.112%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09789	−0.137%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09793	−0.094%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09780	−0.224%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09810	+0.082%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.428%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3473%	1h	0.09845	+0.440%	$518K	$939K	10x	as long as short