Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Binance−0.052%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.052%, 7d avg −0.047%

Together, before fees+0.026%+ Points / potential airdropExtended: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09542	0.0100	pay 0.0050% / 4h	2h 34m	$43.3M	$100.1M	75x
Short	Extended XPL-USD	0.09537	0.0104	get 0.0013% / 1h	34m 03s	$604K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0.84
Price spread: −0.052% → −0.047%: −$0.5
Slippage, 4 orders: −$19.6
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$34.25
Costs to cover: 0.346%
Break-even: 292.4 days

Slippage from Binance: live order book, 9 min ago; Extended: live order book, 4 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, 9 min ago	1.05 bp	10.0 bp −$10	22.7 bp −$227	135.1 bp −$13.5K	doesn't fit
Sell Extended live order book, 4 min ago	0.52 bp	5.8 bp −$6	18.7 bp −$187	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
Deribit XPL_USDC-PERPETUAL	−0.0274%	1h	0.09541	−0.007%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09545	+0.039%	$105K	—	100x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09551	+0.098%	$555	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09560	+0.192%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.655%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09548	+0.064%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09539	−0.028%	$29K	$320K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09534	−0.081%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0066%	8h	0.09558	+0.167%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09545	+0.035%	$1.2M	$2.4M	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	0.09558	+0.171%	$60.3M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09554	+0.130%	$251K	$429K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09560	+0.188%	$219K	$47K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09542	long leg	$43.3M	$100.1M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09539	−0.028%	$45.2M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09540	−0.018%	$8.1M	$48.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.249%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09544	+0.024%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09542	+0.003%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09543	+0.014%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09547	+0.056%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09542	+0.003%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09545	+0.035%	$173K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09579	+0.391%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09577	+0.365%	$254K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+0.506%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09557	+0.165%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	−0.227%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09540	−0.018%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09555	+0.140%	$139K	$185K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09537	−0.052%	$604K	$1.2M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09540	−0.018%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09549	+0.077%	$193K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09614	+0.758%	$1.8M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+1.030%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2903%	1h	0.09578	+0.377%	$544K	$989K	10x	as long as short