Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Binance+0.176%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days−0.314%−$31 · spread now +0.176%, 7d avg +0.098%

Together, before fees−0.336%−$34 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: Polymarket Perps is 0.078% dearer against Binance than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09659	0.0100	pay 0.0050% / 4h	1h 55m	$43.8M	$97.5M	75x
Short	Polymarket Perps XPL-USD	0.09676	0.0100	get 0.0013% / 1h	55m 55s	$127K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.176%Rate

Funding earned: $0
Price spread: +0.176% → +0.098%: $7.83
Slippage, 4 orders: −$17.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$28.08
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Polymarket Perps: live order book, 3 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, 2 min ago	1.03 bp	10.0 bp −$10	21.8 bp −$218	132.9 bp −$13.3K	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.47 bp	9.4 bp −$9	9.7 bp −$97	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
01 Exchange XPLUSD	−0.0416%	1h	0.09660	+0.014%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09669	+0.107%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0267%	1h	0.09663	+0.045%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09673	+0.151%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.617%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0005%	4h	0.09661	+0.025%	$29K	$278K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09668	+0.099%	$73K	—	150x	as long as short
Lighter XPL	+0.0024%	1h	0.09655	−0.038%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09660	+0.019%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09660	+0.014%	$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	0.09678	+0.201%	$61.3M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09671	+0.129%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09670	+0.116%	$221K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09659	long leg	$43.8M	$97.5M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09659	+0.004%	$45.8M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09660	+0.014%	$8.0M	$48.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09663	+0.045%	$3.1M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09659	+0.004%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09660	+0.014%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09669	+0.107%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09661	+0.025%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09665	+0.066%	$175K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09671	+0.125%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09670	+0.118%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.221%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09676	+0.176%	$127K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.193%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.014%	$201	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09655	−0.038%	$138K	$212K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09676	+0.180%	$141K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09657	−0.018%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09661	+0.020%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09693	+0.356%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09685	+0.273%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.615%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2822%	1h	0.09701	+0.437%	$551K	$953K	10x	as long as short