Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Binance+0.686%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

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

costs, in and out, $10k−$640.645% of the position

Long on Binance Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 3 days (all we have)−0.902%−$90 · spread now +0.686%, 7d avg −0.028%

Together, before fees−0.724%−$72 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: HTX is 0.713% dearer against Binance than usual: you sell high and buy low, +$71 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09717	0.0100	pay 0.0050% / 4h	3h 51m	$44.3M	$109.0M	75x
Short	HTX XPL-USDT	0.09784	0.0100	get 0.0050% / 4h	3h 51m	$142K	$241K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.686%Rate

Funding earned: $0
Price spread: +0.686% → −0.028%: $71.35
Slippage, 4 orders: −$42.49
Fee Binance: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $6.86
Costs to cover: 0.645%
Break-even: from the start

Slippage from Binance: live order book, 7 min ago; HTX: live order book, 20 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, 7 min ago	0.51 bp	10.6 bp −$11	23.0 bp −$230	124.6 bp −$12.5K	doesn't fit
Sell HTX live order book, 20 min ago	0.51 bp	37.8 bp −$38	doesn't fit	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	−0.0367%	1h	0.09720	+0.027%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0312%	1h	0.09710	−0.076%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0296%	1h	0.09710	−0.076%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0154% / S +0.0534%	1h	0.09726	+0.092%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0138%	1h	0.09719	+0.017%	$180K	$282K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09719	+0.017%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.094%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09726	+0.091%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0022%	8h	0.09720	+0.027%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09718	+0.007%	$29K	$335K	10x	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	−0.045%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09734	+0.173%	$62.8M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09725	+0.080%	$252K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09725	+0.082%	$221K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09717	long leg	$44.3M	$109.0M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09714	−0.035%	$47.1M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09712	−0.055%	$8.6M	$55.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09796	+0.805%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09717	−0.004%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09717	−0.004%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09721	+0.038%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09722	+0.048%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09714	−0.035%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09715	−0.024%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09746	+0.298%	$266K	$827K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.336%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09728	+0.110%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.179%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	+0.027%	$196	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09784	+0.686%	$142K	$241K	20x
Extended XPL-USD	+0.0104%	1h	0.09717	−0.004%	$654K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09764	+0.478%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09742	+0.254%	$197K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09717	−0.004%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+1.005%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5091%	1h	0.09772	+0.567%	$565K	$1.0M	10x	as long as short