Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.016%

Price spread now: Orderly against ApeX Omni+0.082%7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.223%−$22 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.082% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.3 days. At the pace of the last 7 days (−0.223% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XPLUSDT	0.09710	0.0100	pay 0.0013% / 1h	19m 16s	$25K	$88K	50x
Short	Orderly PERP_XPL_USDC	0.09718	0.0048	get 0.0024% / 4h	19m 16s	$29K	$335K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against ApeX Omni. 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 ApeX OmnibpFee OrderlybpOrdersPrice spread, now +0.082%Rate

Funding earned: −$10.87
Price spread: +0.082% → 0.000%: $8.24
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.63
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: no order-book sample; Orderly: no order-book sample. 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

ApeX Omni and Orderly: 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
Lighter XPL	−0.0496%	1h	0.09694	−0.165%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0392%	1h	0.09710	0.000%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0140% / S +0.0525%	1h	0.09726	+0.164%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0058%	1h	0.09724	+0.144%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09706	−0.039%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.036%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09723	+0.137%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0019%	8h	0.09704	−0.057%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDCshort	+0.0048%	4h	0.09718	+0.082%	$29K	$335K	10x
Gate XPL_USDT	+0.0056%	4h	0.09717	+0.072%	$3.0M	$4.0M	75x	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	0.09713	+0.031%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09733	+0.233%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09723	+0.129%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09717	+0.067%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09723	+0.133%	$44.2M	$108.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09722	+0.124%	$47.2M	$55.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09721	+0.113%	$8.7M	$54.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09711	+0.012%	$141K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09717	+0.072%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09711	+0.010%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09728	+0.185%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09719	+0.093%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09707	−0.031%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09700	−0.101%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09701	−0.092%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDTlong	+0.0100%	1h	0.09710	long leg	$25K	$88K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09729	+0.192%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.103%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	+0.103%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09700	−0.103%	$138K	$233K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09720	+0.100%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09731	+0.211%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09722	+0.124%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09690	−0.206%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.184%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5111%	1h	0.09768	+0.595%	$563K	$1.0M	10x	as long as short