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: HTX against BingX+0.238%52s7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1131.126% of the position

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.491%−$49 · spread now +0.238%, 7d avg −0.003%

Together, before fees−0.358%−$36 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 0.240% dearer against BingX than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.003%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09670	0.0100	pay 0.0050% / 4h	3h 19m	—	$7.8M	—
Short	HTX XPL-USDT	0.09693	0.0100	get 0.0050% / 4h	3h 19m	$142K	$186K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against BingX. 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 BingXbpFee HTXbpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → −0.003%: $24.04
Slippage, 4 orders: −$90.58
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$88.54
Costs to cover: 1.126%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; HTX: live order book, 32 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 BingX live order book, 3 min ago	5.70 bp	14.8 bp −$15	24.0 bp −$240	84.3 bp −$8,432	doesn't fit
Sell HTX live order book, 32 min ago	7.23 bp	63.5 bp −$64	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
01 Exchange XPLUSD	−0.0368%	1h	0.09675	+0.052%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09674	+0.047%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0082%	1h	0.09688	+0.186%	$176K	$189K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09691	+0.217%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0005%	4h	0.09670	0.000%	$45.8M	$54.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09677	+0.073%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.708%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09675	+0.054%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09669	−0.010%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09677	+0.068%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0064%	1h	0.09675	+0.052%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09667	−0.026%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09689	+0.194%	$61.4M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09679	+0.095%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09680	+0.104%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09669	−0.010%	$43.9M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09670	0.000%	$8.2M	$48.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09656	−0.144%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09675	+0.052%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09669	−0.010%	$12.8M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09673	+0.031%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09681	+0.114%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09670	long leg	—	$7.8M	—
Variational Omni XPL	+0.0100%	4h	0.09673	+0.029%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09673	+0.031%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	+0.207%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.137%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	+0.103%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.207%	$207	$12K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09693	+0.238%	$142K	$186K	20x
Extended XPL-USD	+0.0104%	1h	0.09666	−0.038%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09670	0.000%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09662	−0.083%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09673	+0.031%	$1.7M	$962K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.393%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3097%	1h	0.09724	+0.560%	$553K	$990K	10x	as long as short