Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against BingX+0.363%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on BingX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.811%−$81 · spread now +0.363%, 7d avg +0.041%

Together, before fees−0.805%+ Points / potential airdropPacifica: Active · farm board−$81 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: Pacifica is 0.322% dearer against BingX than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09699	0.0100	pay 0.0050% / 4h	1h 31m	—	$7.9M	—
Short	Pacifica XPL	0.09734	0.0100	get 0.0013% / 1h	31m 59s	$221K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.363%Rate

Funding earned: $0
Price spread: +0.363% → +0.041%: $32.2
Slippage, 4 orders: −$58.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$44.39
Costs to cover: 0.766%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Pacifica: live order book, 51 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, 6 min ago	5.66 bp	13.8 bp −$14	25.0 bp −$250	85.8 bp −$8,580	doesn't fit
Sell Pacifica live order book, 51 min ago	5.10 bp	24.5 bp −$25	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
Backpack XPL_USDC_PERP	−0.0372%	1h	0.09704	+0.052%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09707	+0.082%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09719	+0.206%	$565	$708	5x	as long as short
Lighter XPL	−0.0208%	1h	0.09694	−0.052%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0105% / S +0.0502%	1h	0.09711	+0.124%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09729	+0.312%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.947%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09710	+0.116%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09703	+0.041%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0088%	8h	0.09729	+0.307%	$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
Nado XPL-PERP	+0.0100%	1h	0.09710	+0.113%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.211%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09713	+0.141%	$251K	$527K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09734	+0.363%	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09699	0.000%	$43.7M	$106.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09697	−0.021%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09694	−0.052%	$8.9M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.524%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09704	+0.052%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09700	+0.010%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09711	+0.124%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09703	+0.041%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09699	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09701	+0.025%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.120%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.010%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	+0.174%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.093%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.010%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.093%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09694	−0.053%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09717	+0.189%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09718	+0.196%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09762	+0.650%	$198K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.629%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4602%	1h	0.09756	+0.583%	$516K	$955K	10x	as long as short