Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Binance+0.098%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 7 days−0.098%−$10 · spread now +0.098%, 7d avg +0.026%

Together, before fees−0.159%−$16 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: Bitget is 0.072% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09795	0.0100	pay 0.0050% / 4h	47m 54s	$44.5M	$107.8M	75x
Short	Bitget XPLUSDT	0.09805	0.0100	get 0.0050% / 4h	47m 54s	$8.7M	$11.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → +0.026%: $7.21
Slippage, 4 orders: −$28.43
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$43.22
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Bitget: 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 Binance live order book, 10 min ago	0.51 bp	10.4 bp −$10	22.8 bp −$228	124.0 bp −$12.4K	doesn't fit
Sell Bitget live order book, 1 min ago	0.51 bp	16.5 bp −$17	45.5 bp −$455	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
Lighter XPL	−0.0448%	1h	0.09788	−0.075%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0260%	1h	0.09800	+0.047%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09797	+0.017%	$570	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0126% / S +0.0516%	1h	0.09804	+0.085%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09809	+0.136%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.715%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09803	+0.080%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09799	+0.037%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0080%	8h	0.09797	+0.012%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09804	+0.093%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09814	+0.186%	$63.4M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09805	+0.099%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09811	+0.157%	$223K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09795	long leg	$44.5M	$107.8M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09797	+0.017%	$48.0M	$55.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09792	−0.034%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09795	−0.004%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09798	+0.027%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09799	+0.037%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09805	+0.098%	$8.7M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09795	−0.004%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09804	+0.088%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09800	+0.050%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09798	+0.023%	$262K	$796K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.047%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09810	+0.154%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.157%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.047%	$449	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09801	+0.058%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	+0.047%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09794	−0.017%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09802	+0.063%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09824	+0.292%	$199K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09797	+0.017%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.303%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5066%	1h	0.09854	+0.594%	$567K	$1.0M	10x	as long as short