Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance−0.103%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$800.804% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 7 days+0.113%+$11 · spread now −0.103%, 7d avg +0.015%

Together, before fees+0.136%+$14 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: KuCoin is 0.118% cheaper against Binance than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09633	0.0100	pay 0.0050% / 4h	1h 22m	$43.6M	$97.0M	75x
Short	KuCoin XPLUSDTM	0.09623	0.0100	get 0.0050% / 4h	1h 22m	$2.3M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → +0.015%: −$11.75
Slippage, 4 orders: −$58.37
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$92.12
Costs to cover: 0.804%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; KuCoin: 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, 5 min ago	0.52 bp	9.5 bp −$10	20.4 bp −$204	118.2 bp −$11.8K	doesn't fit
Sell KuCoin live order book, 4 min ago	7.80 bp	31.0 bp −$31	165.6 bp −$1,656	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	−0.1144%	1h	0.09607	−0.269%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0344%	1h	0.09610	−0.238%	$641	$790	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09625	−0.077%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09618	−0.155%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09629	−0.038%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.408%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09625	−0.082%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	−0.074%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09625	−0.086%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09622	−0.113%	$1.2M	$2.2M	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	0.09649	+0.170%	$60.9M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09635	+0.020%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09628	−0.050%	$220K	$47K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09633	long leg	$43.6M	$97.0M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09630	−0.030%	$46.0M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09630	−0.030%	$7.9M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.705%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09626	−0.071%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09625	−0.082%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09623	−0.103%	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09640	+0.074%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09631	−0.020%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09623	−0.103%	$177K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09617	−0.167%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09593	−0.419%	$254K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	−0.341%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09628	−0.047%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.341%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.134%	$197	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09619	−0.144%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09623	−0.101%	$605K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09621	−0.128%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09635	+0.022%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09619	−0.144%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.884%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09655	+0.234%	$547K	$931K	10x	as long as short