Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against BingX−0.243%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$342as in the Funding arb table

Net, price: spread back to 7d avg − costs−$350as in the Price arb table

costs, in and out, $10k−$3423.417% of the position

Long on BingX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now −0.243%, 7d avg −0.157%

Together, before fees−0.306%−$31 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: SunX is 0.086% cheaper against BingX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.157%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09483	0.0100	pay 0.0050% / 4h	3h 31m	—	$7.7M	—
Short	SunX XPL-USDT	0.09460	0.0100	get 0.0050% / 4h	3h 31m	$3K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.243%Rate

Funding earned: $0
Price spread: −0.243% → −0.157%: −$8.59
Slippage, 4 orders: −$323.66
Fee BingX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$350.26
Costs to cover: 3.417%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; SunX: 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 BingX live order book, 7 min ago	5.25 bp	14.7 bp −$15	29.8 bp −$298	94.2 bp −$9,424	doesn't fit
Sell SunX live order book, 4 min ago	36.90 bp	148.7 bp −$149	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
Lighter XPL	−0.1216%	1h	0.09478	−0.053%	$4.3M	$3.2M	10x	as long as short
Bybit XPLUSDT	−0.0460%	4h	0.09484	+0.011%	$45.0M	$54.3M	75x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09476	−0.074%	$551	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0382%	1h	0.09483	0.000%	$45K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09491	+0.090%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0115%	8h	0.09481	−0.016%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0108%	4h	0.09484	+0.011%	$2.9M	$3.3M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0100%	1h	0.09488	+0.053%	$178K	$180K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0044%	4h	0.09482	−0.011%	$7.5M	$47.3M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0030%	4h	0.09481	−0.021%	$30K	$246K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09491	+0.087%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.164%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09489	+0.059%	$72K	—	150x	as long as short
Extended XPL-USD	+0.0096%	1h	0.09478	−0.053%	$614K	$1.2M	25x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09485	+0.022%	$43.3M	$98.1M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09479	−0.037%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09495	+0.130%	$60.0M	$45.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09493	+0.103%	$251K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09491	+0.083%	$217K	$46K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09510	+0.285%	$139K	$0	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09482	−0.011%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09485	+0.021%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09490	+0.074%	$8.9M	$9.9M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09483	long leg	—	$7.7M	—
Variational Omni XPL	+0.0100%	4h	0.09502	+0.200%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09500	+0.179%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	+0.179%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09491	+0.090%	$124K	$1.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09460	−0.243%	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09480	−0.032%	$187	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09485	+0.021%	$132K	$214K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09490	+0.070%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09511	+0.295%	$192K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09482	−0.011%	$1.7M	$935K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+1.192%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09515	+0.340%	$540K	$957K	10x	as long as short