Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0604%/8h= −66.1% APRpaid last 24h −0.076%

Price spread now: 01 Exchange against BingX−0.052%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and 01 Exchange is 0.052% cheaper against BingX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09546	0.0100	pay 0.0050% / 4h	18m 36s	—	$7.8M	—
Short	01 Exchange XPLUSD	0.09541	−0.0504	pay 0.0063% / 1h	18m 36s	$555	$873	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.052%Rate

Funding earned: −$126.84
Price spread: −0.052% → 0.000%: −$5.24
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$149.08
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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, 9 min ago	5.76 bp	16.1 bp −$16	28.4 bp −$284	89.5 bp −$8,951	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1440%	1h	0.09531	−0.157%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSDshort	−0.0504%	1h	0.09541	−0.052%	$555	$873	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09561	+0.153%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0064%	1h	0.09564	+0.189%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0040%	8h	0.09548	+0.017%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0028%	4h	0.09557	+0.115%	$30K	$281K	10x	as long as short
Bybit XPLUSDT	−0.0021%	4h	0.09541	−0.052%	$45.4M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09559	+0.134%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.692%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09563	+0.178%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0060%	4h	0.09542	−0.042%	$7.7M	$47.7M	50x	as long as short
Extended XPL-USD	+0.0064%	1h	0.09547	+0.006%	$597K	$1.2M	25x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09562	+0.164%	$60.3M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09553	+0.077%	$252K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09554	+0.082%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09544	−0.022%	$43.2M	$97.9M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09548	+0.021%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09549	+0.031%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09544	−0.021%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09552	+0.063%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09546	long leg	—	$7.8M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09563	+0.178%	$179K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	−0.316%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09525	−0.216%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09530	−0.168%	$25K	$75K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09542	−0.039%	$1.3M	$2.2M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09553	+0.075%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.168%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	+0.147%	$199	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09524	−0.230%	$131K	$212K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	+0.094%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09560	+0.147%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09538	−0.084%	$193K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09562	+0.168%	$1.7M	$925K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09620	+0.775%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2734%	1h	0.09597	+0.531%	$543K	$937K	10x	as long as short